My first post, have no idea how to posts 2 graphs at the same time so just try to post a big picture first.
A sketch of gold trends on weekly chart, price should consolidate a while under 1.618 level because of the previous strong upward move. If it can stand firm above 1200, next target will be somewhere around 2.618 level, or touch the downtrend. Will try to use a smaller time frame and analyze the short term movement soon.
I'd like to use as less indicators as possible, love using the simplest way to analyze the market such as price movement, trendline, Fib levels and at most with MACD. I'm just a beginner and very welcome for the professionals to share your idea here, thank you : )
A sketch of gold trends on weekly chart, price should consolidate a while under 1.618 level because of the previous strong upward move. If it can stand firm above 1200, next target will be somewhere around 2.618 level, or touch the downtrend. Will try to use a smaller time frame and analyze the short term movement soon.
I'd like to use as less indicators as possible, love using the simplest way to analyze the market such as price movement, trendline, Fib levels and at most with MACD. I'm just a beginner and very welcome for the professionals to share your idea here, thank you : )
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