We believe gold is returning to the mean after a long term correction from its previous bear market. We do believe this is setting up a slingshot move for gold within the next few years, but with that being said, we don't think gold's time is today. However, we wouldn't be caught with our pants down. We always trade with the trend. We believe that gold will...
The next days GOLD FUTURES can getting close to 1265. If the pattern keep in the next days, its probable Gold will get close to 1270. :)
1. Buy some pieces of position. 2. Set 2 or 3 stages of TP. 3. Set one stage of SL. 4. As u wish put some BuyLimit or BuyStop positions. 5. After Reach first stage TP close first piece of position, and change SL. In long term is posible to get 1331 or 1370
Long term trend is up given by 89 day sma(yellow) over the 89 week sma(purple). Recent price action has created a great opportunity to trade with the trend! Remember that trading is a probabilistic game by nature. Not every trade will be profitable. In fact most may be losers. We are profitable in so far as the total of our profits are greater than the total...
....pulling back to where it broke out. Potential support from previous highs in the way, but may be cleared hard and fast. Hunting for a pullback to bring a boatload short. P!
We have an interesting setup here, with oil suddenly breaking up above weekly resistance, and outperforming precious metals, I think we might see a shift in positioning towards oil, and a few laggards that show an increase in commercial long positions for some time according to the commitment of traders report. I'm watching oats, rough rice, soybeans, corn and...
Good Evening Traders! Early morning trading saw Gold break through the long acting support trend line from January, 2016 but then pop back up to end the day above it. The move down was enough though to hit my first profit target @ 1320 where I took off half my position for a nice profit of 11+ points. It is interesting to note that price touched the BB midline at...
BIS manipulation might take this down as the 4th wave to the supporting trendline. Gold buying season in Asia, US elections, geopolitical uncertainty, euro bank risks might take gold from 4th wave end to 5th wave up to 1440ish.
...the next Target is the Lower Medianline Parallel ( L-MLH ). My thoughts are going even more south...to the next A/R set which is at least around 1250 (in a couple weeks). But maybe that is just wishful thinking or, the potential of the A/R sets. Always remember: Markets don't, or very seldom go straight to the target. Markets are swinging up and down. This...
Look what you see on the Chart. What would you say? P!
I have two plans (bull and bear) but trying to work them both out separately but comparing them to other instruments I'm watching (US Indexes and Oil) make one less likely at the moment. If Gold is still bull long-term then this plan would be valid. We are finishing the last leg of the impulse wave (v) before it begins to correct. How low? No lower than the...
Overall, I still see EW taking us lower. We are currently in an intermediate upward cycle from 1315-8 to 1327-9 before it takes us to new lows. I'll post lower timeframe charts below as we have a bull run until back on track for bear. BULL: now, 1315/18 to 1327ish. BEAR: after that target reached or close, we'll head back south 1310, first part of wave 5 complete.
D is now complete. Entered trade with 1 lot, added 1 more at 1314. TP 1 - 1322 TP 2 - 1331 TP 3 - 1344 (for @uadog)
Waiting to complete D. Once complete looking for 1326, over 1329 we'll continue higher. If it pushes lower past 1300 a run higher is invalid and I'll be looking for 1297.
Over the past few weeks gold has been in a corrective phase following the Brexit wave, which in our counts has reached the top of a 5 wave impulse cycle. This five wave cycle is, at the highest cycle levels, corrective in structure following the long descent of the past 6 years. This corrective structure indicates to us there is a high likelihood for the near to...
Tight stop loss makes then one easy to try. If D reached and completed, I'll enter short at 1354. Stop loss at 1356, if the bull runs. TP1 1345 TP2 1340
Buy gold when the U.S. dollar crosses below its 7-week EMA and to sell gold when the dollar crosses above its 7-week EMA