Gold overextended Gold has had a really good run to the upside, but I think we are ripe for a correction regardless of the bullish optimism
Auxusd
Gold hypeGold seems to be picking up steam again. The media and pundits are eating up the hype but this usually calls for concern over time.
End of the year on GOLDABC pattern on gold, GOLD is doing a bullish flag at the moment.
Trade at your own rifk!
Short Pattern Based on Converging MA'sI've noticed that when moving averages converge and then cross while in a downward path (like the two next to the red arrows), the trend reverses. The same goes for upward momentum as indicated next to the green arrow.
junior miners to continue break higher to 43Large pennant formation over last few days. Cup and handle forming inside of ascending triangle. If can get above 41.80, should move towards yesterday resistance around 42.15, then break out to 43
invalidate if break traingle on 1hr close.
Gold (XAU/USD) Completes Flat Correction, Next Bullish UpmoveThe price action is been ranging in a rectangle consolidation where it is forming a Regular Flat Correction pattern that indicates completion of corrective phase and beginning of a new bullish move or trend. A good risk to reward setup.
Keep a Stoploss: 1290
Target 1: 1340
Target 2: 1375
GOLD: Trading viewThe price is above the upper limit of the downtrend channel which has been consolidating during the last 2 and a half years, and now in the most immediate context the price action fits into an uptrend channel, therefore in order to look for entries one could play the break out, the pull back or the Reversal, all of it taking into account the boundaries of the blue channel
Perfect time for a corrective rally Current daily trend signals an impending temporary reversal to silver's parabolic decline since the peak of $52.
