Gold about to finish a huge correction wave with the last drop as wave 5. Trying to sell and targeting new low.
In today's analysis, we will understand the possible targets for the bearish movement triggered by the breakout of the previous support zone. -The breakout of the previous support zone gave us a solid idea that bearish pressure was on the way. Before that movement happened, we can see 2 consecutive corrective Structures The first one (the yellow one) of bigger...
Looking at the gold market we may spot a price decline within a potential downward channel. What is more, the whole structure looks like a potential ABC simple correction pattern. If this assumption is correct we could expect that the current wave C may be finished around the support zone at 1788-1750 USD. The C waves are often the strongest ones within a...
HELLO TRADERS GOLD IS PREPARING TO HAVE A VERY STRONG BULLISH TRAD NEXT WEEKS, BE IN RIGHT POSITION AND WAIT FOR IT
Bounced about 4% above the 200 day moving average. Then the usual merry xmas...
Today´s post is about taking previous situations and analyzing the similarities of them to current conditions. Why? because “History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain. Please be open-minded to the idea that this is a Hypothesis, and of course, the price can take any direction from here. But we see similarities that we want to take into...
Sell signal for my prediction Stop loss and take profit on the Chart
This post is aimed to provide a logical way of thinking of a short scenario on Gold. a) The elements or tools we will use to understand what is going on here are Multi timeframe analysis + Support and Resistances + Trendlines + Corrective structures. Just that, let's start. b) Take a look at the Weekly Chart Using this as the Big view, we can deduce...
Resistance + Trendline Break + Globex Lost + Easy Stop Loss + PA Knowledge = $$$$
Gold is a short here targeting $1820
The price of gold has been consolidating around 1900 USD since the beginning of October. The current consolidation looks like the one observed in August. When it has finished the price dropped and the new consolidation has been created. If the scenario repeats itself we may expect another drop as wave C. Then the whole correction labeled as “ABC” could be...
I see GC traveling in a trading range for now, possible pull back to meet the resistance, but then trending up next
As Gold made an attempt to break the resistance we have mentioned in yesterday's analysis but failed to sustain the momentum. We could have seen the rapid selloff later in the session which continued all the way down to the 1900 area we pointed out yesterday. The 1900 level will play the key role as a support and if it breaks we can expect continuation...
GC is hugging the top of the megaphone and coming to its apex; looking to break out to the up side. Increased election uncertainty or discrepancy could drive it past the resistance of $1970
Sell Signal The market will keep going down TP and SL Mentioned on the chart