Gold sitting at the top of the Descending Channel presents a great short opportunity . I have marked all the levels going down to the bottom of the channel which were determined using Fib Pull from last swing high . Above us I have marked areas of resistance and it remains to be seen if we see a change in market structure but until then i favour a short...
I am using Bitcoin as a tell for the NQ. I am NOT trading Bitcoin in this zone, yet. Already oversold, and very low bullish sentiment on StockTwits. But the news flow certainly is lousy.
Bitcoin went to the path of least resistance. Now extremely oversold, but an "overshoot" could see the 32,000 level-35,000 zone.
I think we are going to see a few market makers before continuing the bullish trend here. we have support at 12970
Finally my trigger for gold was hit this morning and I had a limit order sitting since I posted this idea on May 10. (See link below and chart inbeded. It has turned quite profitable with what I believe is a target for 1900. I will watch close at 1900 to see if maybe higher is possible. It is also possible I may exit early if things start to turn.
as you see we are at great up.channel and we have a lot of facts like ,correction was ended on fib38% and that mean we have a lot of more energy to grow up, and we have throw.back on price level that mean we are stable right now on our new support level and we have great positive divergence as you see, so lets go, and let me know your moves.
The downtrend continue Squeeze some dollars by shorting the contract next stop indicated in the chart
Even with the bearish US dollar we haven't seen a good movement on the gold futures but we broke yesterday an important resistance area with a huge candle and a spike on the volume indicating the beginning of the gold bull run
Federal Reserve apparently won't interfere to get the dollar back again and we saw an important spike in the volume and a strong breakout with a big candle of an important support. MACD also gave a bearish signal so I think that's the end of the US dollar.
FIL seems fine today! Buying a bit before the breakthrough of the resistance & I think that I will buy more after the breakthrough or on the support of the bullish *** 🚀
Usually, when the Bollinger Bands get this tight, it signals a violent move is imminent. It could move either way.
Possible change in the trend of the Gold futures after breaking a major trend resistance by the price today Possible Bullish signal in the upcoming day Needs confirmation a Bounce in the Support would be a nice trigger for the bullish mouvement . Let's wait for the right moment to Go long