Hi Guys, This 4 hour chart.N2 follows previous daily chart N.1. The idea is to provide a technically correct structure that follows the move commenced at 0 (ZERO). Key factors that supported Gold into 0 (ZERO) for the breakout are: 1) Deterioration of US China negotiations that entered a stalemate at the beginning of May; 2) Arising tensions in the Middle East...
Hi Guys, the first time I thought it could form a Cup & Handle it was on March 26, 2019 when I published the idea on TradingView. For easy reference please click the image below: Since then I've been trying to undestand gold behavior until it broke out the handle for the upside which confirmed the overall bias as a bullish continuation pattern. Factors that...
Hi Guys, the above picture is intended to provide a structural meaning to the moves made by Gold in the last two weeks. AToW, 10 minutes into the hourly candlestick, Gold is trying to break above 1300. If it does please consider this structure void. With reference to the BIG S H S letters in red above, please focus on the LITTLE S H S in red in the chart...
Hi Guys, the title speaks for itself. The trend is still down below 200SMA but the building divergence with RSI at 1285 may well favour a pull back into the 200SMA but AToW 50SMA still pushing down. OTOH it could still push and break below 1285 before mid week13. Don't forget the Cup & Hanlde Formation and the Bull Run started mid-Aug'18 which Gold is now...
Hi Guys, following my previous post please find above 4H chart focusing on the triple S support before the pullback at the end of week17. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I...
Hi Guys, at the end of week12 price exited the distribution channel started in week9 and dived from 200SMA to built what IMHO is a short term support just a little bit above 1285 with 50SMA pushing down and stopping the pullback right at 1300. The pull back may extend into the 200SMA following divergence with RSI on Friday but only if 50SMA is crossed and...
Hi Guys, this is the handle I am referring to. AToW 100SMA keeping the pullback under control. This may offer a better idea of the activity inside the handle. Click & Play to watch it unfold. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications...
Hi Guys, hope it is readable. 1. Financial crisis of 2007-2008 (en.wikipedia.org) 2.People emotions take shelter into safe haven 3.Capital take shelter into safe haven Fear and uncertainty drive the market. 4.In 2010 CBs & Govs. worldwide implement measures aimed to reassure and stabilize financial systems. 5.in 2012 the run is stopped. 6.Fear and skepticism...
Hi Guys, Here a link to Investopedia definition of Cup & Handle: www.investopedia.com There are many more on the web. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a...
Hi Guys, same narrative as previous posts. 2007 Financial Crisis increased demand for safe haven. Central Banks, by introducing policies to stabilize the financial system, eased the fear away and drove gold prices back to pre-financial crisis levels. From this perspective it could be a 4th wave rounding bottom on top of 1st wave. If so, price coiling and 5th...
...but it may NOT be. thepatternsite.com IMHO these formation cannot be found at the end of a bull run. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and...
Hi Guys, the above structure may be interpreted as a descending triangle according to thepatternsite.com but is my interpretation correct? I was thinking about the Bull Run started by gold in mid-Aug'18 and its end (circled in the above chart)... ...I was thinking about the Handle formation following the Cup and unfolding price action inside this trading...
Hi Guys, this is what I see on the 4H chart. Here below a very similar structure I made two weeks ago. Please click & play to watch how Gold moved since then. To note the support formed in week9 following the dive. IMHO there are a lot of similarities between the support formed in week9 and the support is building in week13. Gold unfolding this move below the...
Hi Guys, in 2016 Silver made a bottom at 14$. At the end of 2018 it made another bottom at 14$. In 2016 price pulled back right into the 1000SMA. In 2018 Silver pulled back too but price have not touched yet the 1000SMA. In view of the above IMHO there is no need to enter the market at this stage. First need to build support above the pink 0.618 Fibo. When...
Hi Guys, I was doing a work on the 1H chart but I wanted to post this first. I hope the idea is clear...not sure about how that handle may unfold though. On the 1H chart a potential bear rally may be at its end but bias on that timeframe is still favouring bulls. If I am correct, a break below 1300 may prompt a further extension of the correction of the bull...
Hi Guys, tops are descending into 1285. sentiment diverge but bears keep pushing. Gold has been going up & down on support at 1285. On Thursday Gold seemed to pull back (V-shape formation) but nothing happened. I am seeing a lot of cups which may be the first signal that I am losing my mind. C'mon, get a grip Marshall, let it go, Gold is not pulling...
Hi Guys, here it's where Silver is in respect of its position prior to the 2008 Financial Crisis. Please watch the RSI and note the shift in sentiment that has been persistent since 2014. Silver has been in Low Sentiment for the last 5 years. Sentiment was runnung high before the 2008 Financial Crisis but fear drove money out of other markets into safe havens...
Hi Guys, I started this work on the 1H chart but I am posting 4H. On the 1H chart I was trying to find a long SMA to support the move made since end 2018 beginning 2019 and found the 1000SMA. On the 1H chart the 1000SMA worked well as support and then resistance but it was too compressed. I tried the 4H chart and noted that the 1000SMA was working very well as...