SHORT NUGT GDX1.414 extension reached. And it is a head and shoulder setup. and Gold is going down too...
NUGT
GOLD'S RETRACEMENT IDEA OFF OF BAT COMPLETION There was a final push at the end of Friday's large decline that kept killing my scalps for gold to go back up. Bad for the scalps but it did push it down enough to validate, in my calculation, the final leg of the bat formation. Now, I'm looking to retrace to the Fibo .382 mark with a target of 1352.
This is my first bat and retrace trade to post so I'm only presenting it as a test of my skills while learning here on TradingView. Input is welcome and desired. I'm trading this and entered long at Friday's close. I don't have a stop loss set as I don't know what asian markets will do yet at their open and will watch closely and manually close or add to the current long position (100 ounces).
Monthly falling wedge breakout on Gold - very bullishMonthly falling wedge break out. Should see ATH in coming months IMO. $GLD
Gold's bearish moves back to the bottom of channel. We didn't break the upper trendline and came down to break through the smaller TF lower trendline to find more buyers. Indexes continue to drop so we'll watch where gold finds ground to push from. Either 1370 or if it needs more buyers and better timing (the end of the week maybe with new economic press) we'll hit 1350 before higher targets.
GOLD STUCK SIDEWAYS WHILE WE WAIT FOR A DIRECTIONI waited for some type of direction tonight but nothing. We'll see how rates reports have an affect if any in the morning. Typhoon in China kept volume low.
I'm waiting to higher or lower entries in either direction. It needs to move down to gain strength to push higher rather than weak movements. Buyers need to feel they have a true opportunity and with the US indexes doing so well, it's hard for them this week to yet make the transition. US indexes are running out of earnings. Oil too by week's end will play a role so we'll see.
$NUGT short off resistanceWill be watching $NUGT tomorrow, approaching previous resistance & whole dollar resistance, so I will watch for it to spike into that $170 area then fail for the short. I'll be keeping my stop loosely above the 170's to give the trade some room to workout, but has upside to watch out for if it breaks above that resistance.
XAUUSD / GOLD bull cycle has begun againXAUUSD / GOLD bounced off the trendline support and resumes climb upwards to 1400+ . Expecting pullback at 1400 to 1375ish, eventual move to 1450 within the year
NUGT set up for this week: Long expected 20-30% gains.Talks of the interest rate hike in the US will scare short term investors into buying gold.
GOLD-NUGTGOLD, keeps touching that lower trend line (blue dotted line). 50% Fibo number. As long as we don't get a real break, this has to be bullish. DCL is due any day, so this could be right timing wise. I bought NUGT this morning.
NUGTNUGT selling off Today, already at a 50% fib number. I suspect this could be the bottom. BUT, if we get a drop to the gap fill I'll be a buyer. $127.22 I believe is the fill. I'll put a limit in for $128. Good chance to make 30%. I suspect we have a few more days of sideways to lower trading, so it could fill. Need a few days to totally reset the RSI.
Gold LongGold in bullish pennant. News of no rate hike will drive price. Yellen won't move due to brexit and global slowdown fears. SPY becoming over extended. Gains will come out of retail and flock back to safe haven assets as the recent rally corrects.
Egyptian Revolution for reference during Turkey's Military CoupMain chart is monthly chart during 2011. I'll post different time frames below.
**not a trade, or advice, just reference while the markets rest.
Short Before the Greater Bull Direction COT report still showing a large number of shorts that were only added to after Brexit. Hedges? Or smart orders looking for the bottom before overbought markets correct. There's a lot of market profits to be pulled and after US election conventions we could see a big change helping to fuel metal's new bull path.
Tight Scalping Idea to be on right side until UK Fed Rate talkI closed larger shorts at 1327 to now scalp to see if this was the bottom and we go up or we continue down to 1320, 1308, 1300...
Trading with minis until confirmation
XAUUSD : Potential Reversal Suspected to 1419Bulkowski's Inverted Scallop in sight on Daily.
Has Trendline Resistance at around 1325-1327
EMA20 on daily at 1325 may provide necessary bounce.
A: 1305.38
B: 1375.92
(B - A) x 61% = Height of Impulse
B + Height of Impulse = Target Price.
($1375.92 - $1305.38) X 61% = $42.82
1375.92 + 42.82 = 1418.74
Something Bigger or a Basic Bull Flag v2Still watching where this goes. I'm trying to get better at looking at bigger picture vs relatively small moves based on small news.
Gold's Bull Channel for PerspectiveIt's important to step back from the 5min, 15min, hourly and daily charts and take a look at the bigger picture. Not a trade chart, just wanting to share. Open to thoughts.
Something Bigger or a Basic Bull FlagWatching this range in this maybe of a flag pattern. Let's see how it continues to play out. So far, the bear sentiment hasn't made any real impact here.
I'm holding longs from 1255, 1333, 1355, and 1366 looking so I can ride out the movements like today's pullback.
Don't get trapped too early by buying the movement, buy the bottoms here. Ranging is funky so I'm not scalping this round.
Bearish rising wedge in Gold...what do you all think? Bearish rising wedge formed. Now reaching apex, down move to 1330-1320 coming I think
