Bear Flag & a Head and Shoulders for GBR?Since my previous post on GBR, we've clearly seen the price breakdown from what appeared like a bullish pennant or potentially a bull flag, but the bearish divergence was/is too strong...
Currently, it appears as though the price is breaking down from a bear flag with a head and shoulders pattern noticeable. I have placed a blue human head and body icon to represent the head of the H&S pattern.
It could be an ascending triangle with a fake-out to the downside occurring now, the higher low trajectory has been negated at the upward sloping support of the pattern, in the next several trading sessions it will be more apparent.
The RSI is trading in a descending triangle creating a series of lower highs.
The DMI is showing a bearish cross where I've placed the red finger point downward.
Goldstocks
GOLD(XAU_USD) ↗️SIMPLE LONG “A sustained move beyond the $1875-76 horizontal resistance should pave the way for an extension of the recent bounce from seven-week lows and push the metal to the $1900 round-figure mark. The momentum could further be extended towards the $1922-24 supply zone en-route the next major hurdle near the $1960 region.”
Gold miners arragement Some gold miners operate synchronously.
They have been falling since the peak of August.
They are quite sensitive to movements in gold prices, maintaining a positive correlation.
They are trading below their 200 day simple moving average (undervalued signal).
Its last 2 peaks have occurred in the first week of the month, 2 months apart.
What is the possibility that another peak occurs in early March?
Either everyone goes up or everyone goes down.
I get the impression that they are going to rebound at the same time.
GOLD - head and shoulders I wonder if the pattern will work?
Of course, it's not very well drawn.
purchase only after leaving the accumulation.
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Significant Junior Gold Exploration Discovery (80-150% upside)Significant results were encountered in hole DKL-20-RC-007, which returned 4.83 grams-per-tonne (“g/t”) gold (“Au”) over 20 meters, including 14.51 g/t Au over 6m (also including 39.6 g/t over 2m).
Nexus Gold is primed for a breakout and they are currently waiting on the remaining 6 holes from their recently drilling program in West Africa that today in hole #7 found a significant discovery for the company.
The company has several drilling programs lined up for 2021 at a few highly anticipated drill sites.
2022 PT $1.25
Bearish Divergence for GBR?GBR has created lower highs on the RSI since Oct 2018 but the price has continued higher until the blow-off top in late June 2020.
The RSI looks like it's trading in a Descending Channel.
The KST has seen multiple bearish crosses since Dec 2018 and continued lowers highs indicating momentum is fading.
Noticeably the price has broken flush to the downside of a bearish pennant unless it's a fake-out.
GOLD Resistance Area Testing (Bearish Move)Here in Gold, i am considering it still bearish to hit 1825 once more. The Bearish is possible this time and further i am considering the area 1780 t to be hit up. As see over HTF the gold has stopped it bullish pattern and is falling fastly rather then flying, so here it will keep its moves in 1700-1900 over months. For now focus is on its falling & if it break its resistance then we have to go on buying in 1900 level.
I HOPE YOU LIKE THIS GOLD IDEA.
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P. S. I personally open a Trade when i find entry point according to my strategy, Always make your analysis before a trade.
Gold 3000$This is a simple and basic long term projection for Gold. Gold can be slow but can rush when economy starts to fail.
USD will fail, so it's just matter of time to reach higher zones..
TP1 - 2500$
TP2 - 3000$
Happy Tr4Ding !
Gold - buy zonePreconditions:
- key level
- predictable risk
- global trend up
- local trend up
You will learn the best place where we can trade this instrument at low risk.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
B2 Gold Corp stock LONG!BTG is a great gold mining company with lately surprising earnings, etc. Amazing company as we head on to the future. $10 price target by sometime next year. If we get a gold halidays rally then BTG will definitely take off quicker than expected. Patience ;)
