Triple top, with strong resistance on the current level. Can short with tight stopp loss
The precious metal not losing its seat against other assets knowing the fact that uncertainties are still spiraling around the world by that pandemic. Every time risk bets work fine but at end plunge back to what it gained and it seems no reason to hope much from risk bets still and market players aren't leaving their hands off from this precious metal. The...
Sentimentally it's a bearish dominated market at this point as big fish are offloading their some long position which can prolly lead price around 38.20% - 50% retracement level.
When the whole town runs for risk bets man how the hell might this yellow metal shine?
It was fishy already the moment when I realized how people being greedy over equities TVC:SPX | TVC:DJI . Knowing much of major steps already taken in action from global governments and central banks all those honchos working together to save their own country equally from this pandemic created financial crisis let me think at least once that something is coming...
Looks very bearish to me. Correction waves should start.
Gold has completed 5 impulsive waves. 6-8 months of ABC correction should start soon. Should be a zigzag correction.
The symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle. The market is making lower highs and higher lows which means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. This is also a type of...
XauUsd correcting and should find support at 1500-1510
Hi Guys, the narrative of this post is the same applied to my post dated April 13, 2019 (below) Financial Crisis have driven Gold price up. CBs around the world have responded by implementing policies aimed to stabilize the financial System. The run started after the collapse of investment bank Lehman Brother when Gold retraced from 1032 to 730 in 2008. It took...
Hi Guys, It's Dec.24th, Christmas Eve, and Gold has just crossed the descending trendline of the following chart ( Click & Play it to watch it unfold ) The breakout have written "buy me" all over it. It could easly climb back above 1500 considering the current bullish outlook. There is no doubt that such a move will attract lots of buyers aiming for highs above...
Gold's upside move could end shortly, forming an intervening wave x that could be followed by either an ending zig-zag or an ending triangle pattern. The successful correction could turn the current structure into a triple combination! Look for potential invalidation above 1519/oz. Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is...
Hi Guys, just a snapshot. Interesting to see how differently Gold reacts to FED policies. At the end of 2015 FED started hiking (Gold in 2016: www.kitco.com) In 2019 FED made three cuts. But in both occasions Gold always made a run. This is because Gold react on the impact that FED policies have on the economy and especially as an INSURANCE POLICY vs impact...
Hi Guys, here just some thoughts. With US equities in Christmas Rally mode I am not confident the descending trandline will be crossed. However, since Gold is a commodity and not only a safehaven, maybe the chances are higher then I'd expect. TO NOTE STRONG RESISTANCE AT 1480 (last week Gold was rejected 5 times at this level, one for each day of the week)...
Hi Guys, At the end of last week risks such as Brexit and US China deal faded but Gold didn't react as many were expecting. Gold has been ranging between 1474 and 1480 since Mon. Two fake breakouts occurred on Wed and on Thu. The 20BB tries to capture this week's range inside above levels. If we consider that Gold reached 1550 with FED cutting rates I do...
Price is too low to have more selling pressure at the moment and seems oversold. Price at the bottom of ascending trendline and north direction has much space then the south seeing the current condition of the commodity.
Hi Guys, the situation is the following. On Nov.7h Gold breached support at 1479/80 (light blue bold horizontal line). The break was favoured by a big Gap-Up in US stocks, prompted by growing optimism in respect of US-China Trade Deal as detailed in the following idea posted on Nov.9th (Tradingview did not allow for this idea to be public because timeframe is 5...