From the Gold daily chart, the price, after the breakout of the triangle pattern, came back to retest the bullish support trendline, by missing, for the moment, to close the pullback on the bearish resistance trendline. From here, it could restart to rise towards new highs.
Looking at the daily chart of the gold futures contracts from CME we may spot a complex corrective structure. Previously we have assumed its simplified form. We have to change that view because wave B takes more time to form. Wave B which consists of three sub-waves labeled as “abc” could create a possible flat correction pattern. If the trendline is broken we...
MINIMUM PRICE TARGET 40$ FOLLOW THE BUFFETT :)
The Fed has the markets back - as seen in the equities market. Euro/Pound are screaming higher, because the news is better there - with that said Fed has been adding liquidity to the system but so has the ECB -$1.52 trillion in stimulus. Bond Market is saying hey equities no so fast - and to be clear the US Bond market is bigger! Interesting inflection...
The move is in - easier to go long at this point than try to short the US Dollar or by proxy every other currency pair featuring the USD. At worse you know where to put your stops. After today's move away from the precipice the decades long trendline continues to hold. TVC:DXY The mainstream media in this case Reuters has been reporting this for months....
Probability: 80% Read Carefully The market will keep going up Take profit & Stop loss: montioned on the chart If the Green Candle Cut the TP line with Force => use the Yellow line as a Resistance + New Take Profit 2. If the Green Candle Cut the Yellow Line With Force => Use Orange Line as A resistance + TP3 and use the Yellow Line as a Support. Note: All...
The price of gold after a strong rally has been creating a potential corrective movement that could be labeled as ABC. The correction occurs after a significant price increase so there could be a stronger pullback (approximately 15%). Currently, after the potential wave A and wave B the wave C may appear. However, it could happen only after a trendline breakout....
Key time for OANDA:XAUUSD and GC1! , as gold continues to consolidate inside the triangle. Breakout above resistance at ~1970 would indicate strong possibility of trend continuation and new ATH. However, if support levels are not held, risk of much stronger and deeper pullback to at least ~1700$ is likely to be starting Somewhat similiar logic can be...
Since the gold has corrected the increasing behavior last 3 weeks, the harmonic pattern tells us that It may retrace to the 0.382 Fibonacci level (The Fibonacci that works well when spotting the highs and bottoms), and join some previous supports and resistances ( the orange line is the mainline that tells us the history of gold for 20 years ). This is a pure...
Please Read it carefully Probability: - 80% for the TP 1 65% for The TP 2 55% TP3 The market will keep going up stop loss: The orange line ( close it manually) Take profit: If the Candle cut with Force the first resistance ( Green line) => New Take profit 2 , if not: Take profit. if the candle cut with Force the Yellow line ( TP 2) => the GC1 may touch...
I am now expecting a drop to 2000 - 1970 region
Gold is pulling back to an important level. What was resistance, should now act as support on a longer term basis. The action here in Gold is very important! Bullish if it holds, bearish if it breaks down through this level! Keep it simple.
The price of gold has surged recently. The move seems to be too fast in a too short time which could lead to a larger correction. Looking at the chart it seems that the market has broken an upper limit in an upward channel which has been creating since 2 years. Currently, the price may move back again inside the channel. In percentage terms, the market may...
Hi Traders, today the gold is confused in a trading range in the VWAP. Focus on volumes that will determine whether or not the trend would be below (bearish trade) the VWAP or above (bullish trade). Also, the rectangle I drew in the end, once broken, you have the best signal of trading. Good luck!
For the next close days, I'm bullish on the Gold: there are still some buying volumes+ more than breaking the historical high in 2011, the gold broke the history line (orange line). So the market can go find the 78.6% Fib Level (2135), and correct after it. However, the last weekly candle is showing a long upper shadow, which means that sellers are here (or...
Welcome, Below you will find our trading notes: Monthly view - CONSOLIDATION Weekly view - BULLISH Daily view - BULLISH Previous week LOW - 1.7350 Previous week HIGH - 1.7705 Previous week profile - BEARISH News this week: 12/08 TUE - 8.00 13/08 WED - 8.00 Where to focus: LONG SIDE SETUPS ONLY LIQUIDITY BELOW : 1.7350 SUPPORT STRUCTURE : 1.7323 ->...