TREND IS YOUR FRIEND - LONG GOLD !! Good Day Traders!
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Why LONG GOLD?
Good risk reward : > 8
Current level is near to support of 1600 level.
Trend is going upward.
Healthy retracement @ level 1600.
Why not then? :)
Please like and comment if you are in the LONG position as well !
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Longgold
Cup and handleI am sorry for the mess, however, a nice cup and handle seems to be almost formed, missing just the handle now. this upward bounce will end at 1750 - 1800 to drop down to 1550 ish and then all the way up to 2950, need confirmation on the resistance on upcoming months but a very profitable trade is setting up so far.
CDE - attractive entryNYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards.
Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot.
I am entering with idea to hold it as potential long term holding.
Gold is coiled for a breakout...Next week!
Gold prices had been consolidating within a triangle and it appears just about ready to break out of the triangle. Marked out the breakout point on the chart, and on the triangle.
The Sell signal should be invalidated and next week brings a new Buy signal.
Clearly MACD is bullish and supportive of a breakout!
Good upside to 1780-1800.
GDX - Strong Buy - Crossing 10WeekMAGDX buy signal on Daily.
About to cross 10WeekMA for strong bullish continuation. Anytime 10Week is crossed we see bullish confirmation (weeks).
Trend turned bullish on Filter Dots.
Gaps to fill above in the $30's imply over 30% gains from current price. Not sure if we get this high, but bullish trend just starting today/tomorrow.
SPY looking to go down soon. VIXY looking to go up.
Only makes sense that GDX becomes risk on (as confirmed by the moving average proximity to current price).
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
GOLD SHORT IDEA down to $1445 then $1380.The gold market was rebounding really well off the $1445 support structure and did manage to break above $1475 just for a bit. However that is where the hard selling came out and price failed.
So based on the structure we can see that the gold market is confirming bearish, the next of the target is in $1445 after making a lower high. There could be a move even lower through to $1430 and ultimately $1380.
The Federal Reserve is going less dovish which means a strong US Dollar and weaker gold prices into the end of the year.
The rotations at the top of the resistance point at $1475 proved strong especially with the extended wicks that failed at the area. The volume on the move lower was strong.
XAUUSD 01/10/2019Heading for Wave 5 / (V) / Y / B. Then down it goes.
Share your thoughts and observation in comments session :)
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GOLD Falling wedge soon to be filled!Long time no see!
So this looks slightly different than on my MT4, but idea is clear. I have a buy limit at that bottom blue line with TP all the way up to horizontal pink line. On my pont of view that green circle is a fake break out, following the news that day, (Don't remember which exactly.)
Hope this is helpful, good luck!
Gold - great upside potential?XAUUSD is still inside a major upswing that is currently consolidating above the Median Line of the upsloping fork + above the recent tops of a range, that was broken up a few weeks ago. The stall above the ML gives us a decent entry with a great R2R ratio, with the stop being below the ML and recent tops in case of a overshoot/backtest.
Trade is Long Gold cmp (1387)
Stop Loss: 1353
TP: 1528
One should never risk more than 4% of his/her account.
Thread carefully,
Nick