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March

Gold and DXY - What does 94+ imply? "Look for the arch in March"Gold has been in consolidation since the summertime highs. The fundamental picture for gold is the same and strengthening. Lots of noise about the rising dollar and the 'end-of-days' for precious metals. While there are many obvious cases for Gold fundamentals, we are often presented with the binary view (ST speculator noise) where DXY and GOLD have an inverse relationship. Instrumental correlation with gold in fact changes over time, for example since 2019 TLT and US10Y have been much more closely correlated with GOLD, but we won't dismiss the psychological impact of a rising DXY. So here is where I think we are based on past patterns. Looking for a rising DXY in a gold bull market phase takes us back to 2010, analogous to where we are now assuming (somewhat) symmetrical bull markets. This window shows a period of initial decline into support and then strengthening along with the DXY. This 181-day window for this phase to play out can be applied to where we are now with some success. From an initial turn-up of the DXY and the simultaneous drop from highs, we bottom this first decline in early March at NOV LOW levels. This test of NOV 30 LOWS in EARLY MARCH (1764 around the ~5th?) tests the 10yr arc support, before a similar rise of equal value brings us back to testing the summer highs and beyond. The DXY can continue to rise, which may initiate the sell-off into support before resuming the up-trend in spring into summer. I think this early March bottom is supported by the similar NOVEMBER/MARCH 2012 (Yellow) resistance tests at the same level, now flipped to support. I'm not a big believer in seasonality for gold, as much as I would say, CORN, but the NOV/MAR 1764 symmetry is noted! One concern with this may be that 94 on the DXY (above the yellow horizon in the lower pane) is a much higher, more psychological level than was present in 2010. A rise from current levels into and through 94 is marked out in purple April 2018 window by a similar selloff and eventual resumption. This is the most I've felt like writing here, maybe my presentation skills need to catch up with my thinking. But let's sum up by saying: "LOOK FOR THE ARCH IN MARCH" - March 5th 1764 support, bull off double bottom to test highs in July BONUS: This model gives an initial PT for OCT 2022 of 2648. But let's get through March first. Zoom out, chill out. Peace.
TVC:GOLDLong
by ptero1492
Alcista hasta 67.00Se evidencia un pull back, en 61.429 donde rompio la banda de Bollinger inferior, el stocasticos y el RSI dando. Un stop loss recomendado si abrimos en este precio (64.672) es al menos hasta 62.280 cuando mucho, pues es el soporte mas reciente en la escala de tiempo. En el Take profit, si debemos estar atentos, debido a la inestabilidad del mercado a corto plazo dudo que llegue a precios tipo 70.00 a 73.00, por lo que is estan operando en scalping les recomiendo un Take profit en 67.645 hasta 68.00
Long
by jcpontes
1
NZDUSD: Butterfly Pattern as Rebound SetupReason to entry: -Butterfly pattern -strong support at 1618 completion (also as descending triangle support trendline) -previous structure have strong rejection at completion point -always wait for RSI confirmation Entry: 1272 butterfly completion.. or 1618 butterfly completion Exit: -382 retracement -618 retracement Void if: -failed pattern or premature reversal -if price breakdown the descending triangle support, reverse position as continuation Remember that market always right! Manage your trade well!
Long
by WilliamSurya
USDCAD: Gartley's Pattern Setup in Descending TriangleThis trade intended just for capitalizing the bounce before breakdown to the downside! High probability price may break strong support(weak USD and descending triangle as the reason)! Reason to entry: -Gartley's pattern -descending triangle -strong support at gartley completion Wait for RSI and candle confirmations Entry: -Gartley's completion -triangle breakdown to downside Exit: -retest of triangle resistant (gartley's) or 38.2% retracement -after that, price may goes down and breakdown from triangle (high probability sell setup) Void if: -price goes up before touched gartley's completion -failed gartley's Remember that market always right! Manage your trade well!
Long
by WilliamSurya