Hi Guys, uncertainties over a US China Trade Deal by year end formed a double bottom in divergence with RSI that favoured the pullback from D into descending 200SMA and on upper band of the 100BB. To note that this encounter between BB and SMA occurred when sentiment was overbought. A similar formation occurred few weeks ago when B was forming. Here the idea...
Hi Guys, Just some thoughts. Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post. If you have any questions or comment to add please do not hesitate to post it. Thank you for your support and for sharing your ideas. The GOLD Discussion CHAT is real fun. Join IN. Disclaimer: Please note...
Hi Guys, this is rough structure based on the daily chart. If Gold moves up, USD/JPY move down, If Gold makes a bottom or a top, USD/JPY makes the opposite. Tops and bottoms are formed but not at the same time. Moves goes in the opposite direction but they have different lenght and magnitude. Sometime, not always, it is possible to understand which one is moving...
In today’s market insights I talk about how the latest trade war and API developments affected the prices of gold and oil. Gold appreciated while trade optimism increased! That was owed to poor US data, however! But I do expect the upside to be limited! Crude, although supported by positive trade ware narratives, ended the session muted as bullish flows were...
Hi Guys, here below technical structures: Here the post iro pullback of AB: More infos: Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post. If you have any questions or comment to add please do not hesitate to post it. Thank you for your support and for sharing your...
Hi Guys, it was on Aug.12 when I posted the following chart and Gold was at 1495 running into 1560: Fear of tariffs and worries over deterioration of US-China negotiations drove that run. Today those worries are creeping in again at 1445, and this is what stopped Gold at B. As far as the main Daily Chart of this post is concerned, to note that from 2 price...
Hi Guys, the top made when price hit 200SMA diverge a little with RSI. Lower band of light blue area may be last line for support for the distribution period B to C to continue. Need to consider that retracement of AB may be completed. Price is forming 3-3-3 moves inside violet TR. B was formed due to uncertanties iro US-China negotiations and possibly...
Hi Guys, This is my view on Gold for a short term pullback into 0,382 Fibonacci retracing AB at 1472. Below how AB looks in the daily chart and where 1472 is. Please also click & play the following chart prior of making B (above) And this is the 1hr chart with more or less the same infos. For additional infos about Gold please refer to the related ideas...
Hi Guys, the above chart is providing a structure within the context of SPX and US-China trade deal. Gold pulling back following Reuters' news Following what happened in the last few days based on growing optimism iro US-China trade deal, here is the link to an article published by Reuters today on the subject. (www.reuters.com) The vertical grey line is...
Hi Guys, following the idea posted yesterday, Gold broke out the distribution period to make a low at n.3 lower then n.2 and complete the Zig-Zag. Yesterday's bullish opening of the stock market prompted Gold bearish move into n.3. Growing optimism in respect of US-China Trade Deal is favouring a Risk-On mood despite lot's of issues are still pending. However,...
Hi Guys, hope you are all well and doing good with your businesses. The above chart shows how Gold has been swinging for the last two weeks. Please note that I modified the RSI to 88 in order to follow price action above and below 200 SMA. Violet line are just levels. Despite the news published yesteraday by Reuters at 17:30 that the US-China trade deal was...
Gold is a safe haven at this time. A rate cut is priced in of US Fed after worse than expected ISM Manufacturing and Non-Manufacturing PMI.
Last year it was highly anticipated that the yellow metal would break the years long held trading range and make a new high. Well all that is unraveling pretty quickly to say the least, as the trade war enters its second year with no end in sight. The two year long and ongoing trade war between the worlds two largest economies has led to fear of recession in the...
This is a monthly TF analysis of the yellow metal. The main chart shows numerous horizontal lines, these are concrete support and resistance levels taken from monthly charts. This year many people predicted the yellow metal to break out of its long term held range and it happened! After 1370 level was broken, the next hurdle was present at 1430 which held against...
Have a look at the link below for full trade analysis behind this trade set up INSTANT ENTRY: AT AROUND 1287.00 LEVEL TAKE PROFIT: 1310.00 STOP LOSS: 1264.00 POSITION: BUY/LONG RR: 1:1 The trendline was broken and now the price will likely aim at 1310.00 level where an established high is present. should the price breach that level we could opt to take this...
Hi Guys, Gold is pulling back from 1.310 once again but is still above 400SMA and supported by 200SMA. The double top may present an opportunity for a breakout of the 200SMA towards 1.294. However, in view of forthcoming FOMC meeting due today, intraday positioning is highly risky therefore not reccomended. On March 10, I posted a H4 chart presenting an H&S...
Finally the H&S PATTERN has been completed on the daily charts and price has HIT the ascending trendline support that had been in the region of 1270.00! Therefore now the question remains, WHERE WILL THE YELLOW METAL HEAD NEXT? Be noted that the price has already HIT the ascending trendline where a lot of BUYERS AND SELLERS will fight to take control of the...
Price on daily charts has already broken the crucial neckline of the H&S pattern and to add to that the price has also retested the neckline! Now we should see the momentum gathering up towards the ascending trendline beneath this pattern which lies in the region of 1262.00 level. For those of you who would prefer to take this pair SHORT please be advised that...