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GOLD: Week12Hi Guys, since week9 Gold be forming a distribution channel representing a bear rally before extending the correction. 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 these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:GOLD
by cozzamara
Gold: Week 11Hi Guys, I've just seen a tweet from @PeterBrandt (twitter.com) that shows a "common bottom". Well, in week9 - beginning week10; Gold made a "common bottom" XAB. What happened next is an attempt to regain and consolidate above 1300 throughout week10. At the moment BD are higher lows and AC are higher highs. RSI just above 50. Gold squeezed between 200 (support) and 400SMAs (bearish pressure). I am not convinced that the RS is completed. In my post Gold:Week10 in the related ideas linked below I was expecting the RS to be between 1310 and 1320. Last Wednesday it stopped at 1310. If Gold crosses the 400SMA above 1310 it may run towards 1320. However if Gold crosses the 200SMA next support is B. IMHO failure to consolidate above 1300 may drive sentiment lower for a breakdown of the neckline of the H&S pattern ABCDE above towards B or maybe X. TO NOTE also the formation made at D on the 200SMA. Also this one looks like a "common bottom". Lol. But as always let's be patient and wait for the week to unfold. 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 these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:GOLD
by cozzamara
GOLD: Guidelines for Applying Elliott Wave TheoryHi Guys, this is the bull run made by Gold since mid-Aug'18 which follows the guidelines for Applying Elliot Wave Theory. Here are some links for easy reference: stockcharts.com Just to note that the end of the above wave 5 is the letter H in the daily chart that I posted on March 19 related ideas linked below. 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 these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:GOLD
by cozzamara
GOLD: H = Top of Bull RunHi Guys, according to the Daily chart of USD/JPY that I posted on Feb 2, 2019 and the principle of negative correlations between their moves, GOLD is about to run towards the 166SMA with approx target/support at 1.260/1.240. Since USD/JPY reached the level of the blue bold horizontal line at 112 with a bullish move, I would expect GOLD to unfold a bearish move. Instead you will note that Gold made a final run to make H before falling and start to correct the run commenced mid-August 2018. If you click & play USD/JPY daily chart (below) you will note that from Jan 31st the pair made a run towards 112 (BULLISH MOVE). This is at the same level of the blue bold line. If you click & play the GOLD daily chart (below) you will note that price made a final run at 1.340 before starting to pull back (BEARISH MOVE). And the pull back has been supported by previous low at approx 1.280 made before 1st S. This pull back may be the initial phase of a more deep correction of the run started mid-Aug 2018. However, FOMC meeting at the horizon (in approx 48 hours). Be carefull. If DXY goes down or economy slows, Gold may well go up. 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 these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
TVC:GOLD
by cozzamara