IanColeman

Although we witnessed initial buying pressure in Gold, sellers emerged inside the supply zone from October 20. Follow-through bearish momentum resulted in the commodity closing with little net change. From a technical perspective, we continue to trade within a bullish channel formation. A full AB=CD formation will take us to $4,367. Trendline resistance is currently located at $4,434. We have a support zone between $4,225 and $4,204. Conclusion: there is no clear indication of a change of trend. We continue to make higher highs and higher lows. **I look for dips to find buyers**

BTC – first, the big picture analysis. The whole move higher from the November 21 swing low is analysed as a fourth wave correction. This keeps the medium-term bias firmly skewed to the downside. The intraday chart highlights an Expanding Wedge pattern. We can see a 3-5-5 formation, which is common in corrective patterns. The yearly point of control is seen at 94,016. This has attracted profit-taking this morning, with institutional traders soaking up liquidity. In summary, I'm bearish on the cryptocurrency major

Mixed price action has resulted in an Ending Wedge pattern being posted on the intraday chart. On a break of this morning time of $2,741 the measured move target is $2,762. We will complete a Crab formation at $2,784. We are currently assessed as moving lower within the BC leg of this cypher formation. Support is located at $2,727. A break of the trend of lower lows, currently located at $2,724, and the bias is negated. SL: $2,718TP1: $2,784R Rate 6.1#tradeplan #gold

Although trading in Bitcoin continues to be mixed and volatile, there are certain factors that offer a negative bias: •We posted a bearish Outside Daily candle on October 21. This formation is often seen at the top of the trend and the start of a new downward bias. •We have broken out of an Ending Wedge formation to the downside. This pattern offers a measured move target of 62,033.•The intraday chart highlights the building of a bearish Bat formation. We have substantial resistance is located at 69,000. This trade plan will expire at midnight on October 24. SL: 70,250TP1: 62,055R Rate 5.56#tradeplan #bitcoin