the 4-hour chart seems to have reversed...
If gold 0.48% breaks the 2011 trend, I think we could see $1480 by summer. There's no doubt going to be some choppiness as we test or break that trend. Tip: Back out of the chart to see the fibo-fan resistance lines since 2015 (formed by 2011 highs). I think we'll play inside this triangle from 2017-2019.
Gold has completed an initial correction from the previous low at 1050. We expect gold to seek the print a bottom at or below this previous low, as a second round of correction wave tests the market bottom. Look for the bulls to battle hard to keep the price elevated, as risk levels are elevated relative to previous years. There is enormous pressure from...
This is my current gold fibo-fan chart. We're back to bull, but if the current upward fibo-level fails, we could see a return to 1221. My other ideas on DXY and UJ point to this possibility. If this goes higher, I would target 1237 short-term (a Cypher pattern completed on 3/13, TP2 is 1237) Beyond that, I see the 1250 level a tough one to break for gold. No...
Usually if al Medianline is zoomed or gapped, we can expect a Test or even a Re- Test to it. From then on, price will fall. In this context I see a small Sine-Wave pattern (yellow dotted Sinewave). We know that the center of S.W''s. are usually get broken, bevor the market starts to turn again and bags the shorts in the up move, wich in it self again produces a...
I'm sitting on the sidelines until there's a big move in gold. This could go either way, but it would make life easier if it continued with the 2017 trend.
I'm using this to trade gold, but also watching UJ closely as there seems to be higher correlation with GC at the moment.
Watch this chart an learn. You can see how price reacts at the Fork's line. Even in a steep rise you can project the path of price super nice - See the Mini-Fork. P!
Gold is rallying after breaking out of the strongest local resistance level (red box). There is a new uptrend continuation signal that got triggered yesterday, and I reentered longs on the breakout. Currently in profit, and looking to trail stops and add if viable. Keep an eye on the developments from here onwards, it becomes extremely interesting the higher we...
The sideways range is cracked. Next logical target is the centerline. P!
I'm bullish for the most part, but we have risk in this zone. If we do break higher on close, and stay there, we could see a massive short squeeze rally in gold and silver. In the case of gold here, the target would be 1714.28, initially, but could evolve into a resumption of the long term advance in gold, so, I'd reccomend simply owning some physical gold, on top...
This recent rally in gold seems to be coming to a halt as loss of momentum can be seen through divergence in RSI index, so it might be time to exit longs or book partial profits, one can take short position around 1242-1245 with a good risk reward, and once support at 1220 gets broken we might some good downside move till 1185 level.
Price climbed above the centerline, came back to it and now start to go to the upper extreme, the U-MLH. If we retest the CL. again, it would be a opportunity to load up more, or to enter if you're not long now and would like to take the ride. I always stay small and trade as often as my rules dictate, to participate from the statistical chances. P!