Gold continues to sell tonight! Suitable sell price around 2027!The gold gives the central sun cross on the axis
The reversal of the bear trend is almost complete
Although the completion of the cycle is somewhat earlier than expected
But that decline took just seven trading days
It is acceptable to complete the adjustment in two trading days if the shade is completed last Friday, which may be more favorable for the short-term peak, but the probability of a peak is very high!
Last week, Ling city gave the bottom of the general trend of the decline in the case of today's trading or choose to rebound short as the main line!
European trading signals:
2027 sold!
tp:2009!
Goldrush
XAUUSD Gold potential direction next weekOn Monday and extending through the week, there's a discernible bullish momentum. The key area of interest lies in the supply zone between 1930-1950. There are two plausible scenarios to anticipate:
The market could experience an immediate surge, surpassing the supply zone ranging from 1930-1950 without significant resistance.
Alternatively, we could observe a minor retraction where the market taps the 1940 mark and then undergoes a slight correction back to the 1900 area.
However, this would be a transient phase, as a subsequent bullish momentum is expected, powering through the aforementioned supply zone.
Should the market display a robust breakthrough beyond the 1950 benchmark, it would be a strong indicator of a sustained bullish phase, potentially soaring towards the 2100 mark.
Missed Last Rally of GOLD? No Worries, Follow This Setup Good to see gold is following us
Hope this Analysis will help you guys to plan your trades
I see an Order Block area in Weekly Time frame and sooner or later it will be fulfilled
This area would be a good long area for those who missed last rally of gold.
Cheers
DYOR
Weekly Analysis Update \ Gold; Friday 10 Feb 2023This week was a major chopfest and I hope nobody got blended.
We failed to take out the previous weekly low at the start of the week which meant I needed price to trade higher into a premium market to then allow central banks to reverse and go short from.
The target I sent on Sunday of 1890 hit perfectly on Thursday and immediately ran to the overall weekly target in one day's trading. This means they allowed Mon-Weds to chop and then deliver on Thursday similar to the US Equities.
Once the Gold rush bites you it is hard to stay away.
Have a good weekend, will update with a forecast for next week on Sunday. CPI data on Tuesday, stay safe.
GLD Monthly Breakout Imminent!11 month accumulation with a big range expansion in Feb. There is the possibility to expect a second level target here which would bring the price target to around $204. I'll wait till the end of Feb before entering to await confirmation of a breakout.
As long as the price stays above ~173.80 we will have a confirmed breakout.
Closing for the month above $173.80 would make the monthly range expansion greater than the previous candle, confirming the breakout.
$ABNB could go either way,but leaning to the bull sideNASDAQ:ABNB I has been consolidating in a large range from around 174-214. It tapped the 173.50 support a couple of times last week and may be looking to reverse and head back up to to the upper end of the channel. The confirmation would be the hold of the support while also breaking through the trend line(green), this would also serve as your safe entry. First price target around 186.50, second 198 and ultimate around 210. If looking at options, if the break happens this week, you could play the 190C weekly if you are risky. Or the safer bet is the 190C or 200C for 4/16.
A bear case would have the price failing to hold support at 173.50 and continue to fall and hold trend, with targets to the down side of 162.40 and 145.50
Bear Case for NVDANASDAQ:NVDA Take a look at NVDA on the Daily timeframe. It had a nice consolidation at the top, that looks a lot like distribution. It had a failed rally and then started to come down and test support and then another rally, this time on lower volume which is where we are right now. I failure to hold support in the 475 range could be the break needed for the mark down. This is based off the Wyckoff theory of accumulation and distribution. A hold above 475 and a break of the green trend line would invalidate this thesis.
XAU/USD TO 1980 FOR 2020 ELECTION major weakness in dollar + weary US election uncertainty (runoff guaranteed)
forming higher lows and failing to drop under major support 1840 (triple bottom here)
next 2 weeks can be shaky
bottom wick could form at 1898-92 upon market open*
1940-1970 demand zone to drive price higher
looking to close above 1908 on MONDAY 10/27/2020
******ALWAYS REMEMBER $4 MOVE********
would love to see 1940-1991 test by NOV 4,2020
GOLD/USD ready to run again?I have been trading and investing in gold for a while now leading up on this run and expected to see a descent pause in the market after launching out the top of this long term growth trend.
I dont feel this run is over yet but is due for a halt, but its getting close to the lower band of this bullish channel so keen keen to enter another long very soon.
As this is new price discovery into the unknown and everything going on with the global economics and US election i still expect to see big volatility on gold for a while as a safe haven hedge to uncertainty.
Looking at fib extensions for targets at the moment around $2160, $2250 and $2350 before we take another breather.
what are your thoughts?
Gold will lose its shine at $2,029 areaGold rush! everyone is buying gold and in the past 5 days OANDA:XAUUSD prices were forming a compression. It created an impression that the price may go up even higher once passed $2,000 mark.
Don't get tricked, we are a trader, we look for a better price and minimise our risks.
Here is my trade opinion :
Sell Limit at $2,029
Stop Loss at $2,082
Take Profit at $1,814
Risk Reward Ratio = 4.1R
Disclaimer :
The analysis above for educational purposes only, I do not responsible for your losses. Please adjust your own lot sizing according to your appetite.
If you are benefiting from my trade opinion, please buy me coffee .
As always, move your SL when you are in the profit zone.
Ascending Triangle breakout for ORSU?Orsu metals released some interesting & pretty impressive drilling results on multiple holes in Russia, indicating they've "struck gold," for lack of a better expression.
I'm not great at reading drilling results from Gold mining companies, but I can read the charts fairly well, and apparently the market likes the results, so far.
An ascending triangle is a chart pattern used in technical analysis, It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows.
The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
The breakout can occur to the upside or downside.
Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
SEISMIC: Solid Gold becomes easily electronically transferable. Yes - of course some will know about credit transfers of solid Gold. But the latest stuff is bigger! Some very clever people have found a way to transfer solid gold in more than just 'credit', by very robust electronic means. In other words wherever you are in the world you can ask for your solid gold and it will be sent to your hands! Ain't that crazy!? You can now buy stuff and pay in real Gold, using plastic! Ok so that part is like credit but it isn't. No longer is that totally linked to the US-Dollar value. So this is just like cryptocurrencies - but slightly better. In other words private individuals and some corporations are re-creating the 'Gold Standard' independently of governments and central banks.
What does that mean? It means that the 'big boys' with the smart money have been ahead of the race. They spotted some time ago, to their minds that the US financial situation - which has been labelled as bankrupt (not by me), with an unprecedented Debt to GDP ratio of 105.4, and a total debt of $16 Trillion - is frankly dangerous. People have become drunk on credit. Personal credit allowances are all adding up into one massive tsunami - which nobody is really looking at.(Well except the big boys of course).
Gold is has been connected to the US Dollar as we know it today. However, strangely currencies are no longer backed by Gold (since the 1970s). This has allowed the widespread printing of national currencies backed by thin air - and confidence in trade agreements etc. On top of all that, interest rates had been held near to zero in the USA for the last 10 years, and that's why there is such tension about The Federal Reserve (which is factually a bunch of private bankers), deciding to raise interest rates. They know a bubble has been created.
In other words, the crisis of 2008 was not solved at all. It was papered over and made worse. Yes - it's taking time to pop. Sometimes real bubbles made of soapy water will touch a surface several times and not pop. But when they pop and when Ponzi schemes crash, it happens in the blink of an eye. If/when the financial bubble pops Gold will rule again. But it will be too late for the average investor to get on board.
I'm not saying that everybody should rush out and buy Gold. What I'm saying is that sensible investors and traders need to get prepared now. In fact 'now' is a bit too late.
Xauusd long *technical*I am going to try to catch some pips with the correction. Pay Attention as it is against our main trend. Price action seems ok so I am going to enter the trade. Goal is to get the sl Pretty fast to BE or close part of the Position in good Profit. The trade could bring more pips then target. Lets see what the market brings.