GOLD: Let's start from zero

Updated

Thank you for your support and for sharing your ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

Comment

Comment

Assuming that the above is correct, if 1298,54 is the top, what happened since 4th Jan'19 should be a correction or retracement supported at approx 1280

Comment

Sentiment loses steem as indicated by RSI but price is supported at approx 1280

Comment

Yesterday, before the release of the JOLTs Job Openings, Gold was going down. The reading below expectations (6.888M vs 7.063M) made it bounce on 1280

Comment

Now it's pushing on support and the odds that a candlestick could soon pierce deeply into 1280 looks likely. However, the nature of the game is often misleading therefore there is no action to be taken at the moment.

Comment

To note that the above chart is 2H and candlestick still need 14 minutes before closing

Comment

Also note that Monday we had a reversal between 13:00 and 15:00 and yesterday we had a reversal at the same time.
-

Comment

From the above we can see how Gold ended last Friday with a Top and a correction/retracement and commenced this week with a follow up on the correction/retracement

Comment

cozzamara

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.