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Longgold

Long XAUUSD (gold)This image show the daily time frame but if you look at the 4hr. you would see that price respected this level of resistance. -Price also formed a double top, which is a bearish candlestick pattern. -the two statements of above illustrates 2 confirmations that price is ready to make a bearish move. -I am expecting price to sell off creating a pullback. -I think price will pullback between the fib 50.0-61.8 levels and ultimately respect the area of support (the orange line). -When price reach this area I will look for price to create a bullish candlestick reversal pattern and enter a buy. -If price pullback to that area, depending on how you view it, you may notice price create an Inverse head and shoulders on a smaller timeframe. -also keep in mind the DXY is in a downtrend. Gold and the USD move in opposite directions. -long XAUUSD (gold) and bearish DXY Like, Follow, Comment! if you see something different feel free to post your analysis below.
FX_IDC:XAUUSDLong
by NoCeilingsTrading
3
Gold gains with low NFP dataHello Traders TGIF, After having our profits shorting XAUUSD, Today low nonfarm payroll data showed US Economy is not ready to reach expected rebound. Gold seemed to finish its correction period and ready to gain momentum to reach my long term targets. Price should stay above 4H MA50 priced 1895 right now. I opened my long position at 1875 and my short term target is 1945. I will follow up the price action until market close. Trade safe and have fun! Remember to like and comment what you think. Have a lovely weekend.
TVC:GOLDLong
by gorkemaydogan
Using Longer-Term Correlation to Predict MarketsIn the chart above, I display a daily chart of gold at the top, followed by the graphical 90-day correlation coefficients between gold and various asset classes. I do this kind of analysis at times when I feel a major inflection point is incoming. It is very handy when everything is moving quickly, since you can make the right choice after the dust settles. Moreover, you can anticipate what will happen and get into positions during the brief period of pandemonium. I will say from experience that being on the right side of certain markets before the final directions are determined is perhaps the most profitable way to trade markets. It is also extremely difficult to do and requires a thorough analysis of each major interrelated asset that is involved. In my opinion, and based on these correlation readings, I am essentially bullish on gold, bearish/neutral on everything else. And, when you really think about it, it makes a ton of sense. Let me explain briefly. I am not sure how anyone qualifies an asset class as "overbought," but just a quick glance at any equity index's monthly chart should be enough. All of them are so overbought that I do not feel the need to substantiate the claim with an indicator reading of any kind. The same goes for Crypto, except double. DXY and Oil are historically quite inversely correlated, and would imagine that they diverge as a result of a crypto-induced equities selloff. That's right - amazingly enough, it seems that the "safe haven" known as Bitcoin is actually what is holding equities up so high on the backend. I think. In any case, I hope this serves trading society well as volatilty soon approaches. -CorrPigEarningsMiss TVC:GOLD TVC:SPX TVC:DXY CURRENCYCOM:OIL_CRUDE BITSTAMP:BTCUSD
TVC:GOLDEducation
by UnknownUnicorn5511258
8