CitRoN_RouGe

CitRoN_RouGe

There is nothing technical in this analysis. I just tried to point out the recent cyclic moves of gold prices. If the fractal pattern (which reflects the recent psychology of the market) will repeat itself, last cycle starting from 1205 is to close somewhere quite below the price level of today. 1310 high of Tuesday seems like the critical point signaling downward...

CitRoN_RouGe

Although not perfect, gold is doing its best to build something symmetrical...

CitRoN_RouGe

Long for "return back" to Day.1 ... (15th January 2015)... Watching for the next dip to buy EURCHF_

CitRoN_RouGe

I marked the points where PA touched 1250 level since 2013_ Level 1250 has worked as a strange pivot point within 1200-1300 consolidation band. See how many times we saw 1250 during last four years. Following FOMC meeting of last week, downward price action_ is favored. A critical event required to push the price back above 1300. Otherwise as far as the price...

CitRoN_RouGe Updated 

Technically, pricing is at a critical point before a sharp price_action (maybe to continue for a couple of weeks). As expected, EMA50 is acting as a support at 1295 level. I am watching EMA10-EMA25 cross for confirmation of direction. Speeches of FED members this week shall be followed, together with US GDP data to be released on Thursday.

CitRoN_RouGe

2012-2017 uptrend support was broken early-September, and price retraced back to this line. Now the trendline is acting as a resistance, a strong reaction might be expected. As far as BoC_ is hawkish and USD weakness persists (it seems so…), price_action aims at 1.06 level. I wait for the reaction from 2012-2017 trendline to take short position at 1.22-1.23...

CitRoN_RouGe

FOMC Statement and the press conference to follow will determine the medium-term direction of gold prices. This is a long position setup which is based on a strong reaction form EMA50. Setup is as follows: - FED is dovish on Wednesday. - Pricing faces tough reaction from EMA50 level around 1290-1295. - EMA10 can not cross EMA25. - Stochastic indicator rebounds...

CitRoN_RouGe

I marked two ellipses on the weekly chart: blue and red. Ascending Blue Ellipse is working since Dec_2015 dip of 1050. Latest boundary reaction of blue ellipse was at 1205 level in July.2017. Descending Red Ellipse is active since June.2016 high level of 1375. Last week we saw the latest boundary reaction of red ellipse at 1360 level. Now we are in yellow price...

CitRoN_RouGe

Comparing the current price levels of Gold and the Yen with those of US election levels, I noticed something unexpected. Gold appreciated around 4%, but Yen lost approximately 5%. It looked like a mis-correlation. (Actually I was waiting for 105.00 level in USDJPY parity to place a long-term buy order, however it did not fall as that much.) So I went back to US...

CitRoN_RouGe

Trend is still bullish. Previous higher high of ~1325 level worked as a good support. 1325 was the first possible dip level to place the first buy order. Next, I wait for EMA10-EMA25 cross above EMA50, which would be around 1335-1340. The target is still June.2016 high of 1375. But before the channel of (1325-1355) needs to be broken. In case of a daily close...

CitRoN_RouGe

Since May.2017, I noticed that the prices of bitcoin and gold are acting under a correlation, although not like the correlation between silver and gold.

CitRoN_RouGe

I will follow gold price to fall down a bit further to 1325-1330 band to take long position. This band might be another dip level before the next spike. The idea depends on the reaction from EMA50 on 4H chart, which has worked as a good support previously. Targets: (1) The gap closing level of 1345 (2) 2016.June high level of 1375

CitRoN_RouGe

As the fabric of nature is governed by fractal patterns, the price action we see in the market is also ...

CitRoN_RouGe

I tried to fit each partial spike of upward rally into Fibonacci retracement scale. It is clear that the trend is still very strong, mostly taking reaction from Fib 38.2 level. Also, we can note that the region between EMA10 and EMA25 is pretty well working as the "buy the dips" level. I believe that the we are very near to the point of taking short position on...

CitRoN_RouGe

Fibo retracement level 50.0% shall be followed...

CitRoN_RouGe

I think that this month's events will determine the direction and end-of-year price level for gold. The reaction from 1375 might be a critical milestone if the price reaches there.

CitRoN_RouGe

Just a basic visual interpretation of long-term GBP_JPY prices ....

CitRoN_RouGe

Having broken the 1337 pin level of US election day, the next target seems to be 1375. Level 1375 corresponds to 38.2% retracement of 2011 highs, which is also the high level we saw in 2016.June. 1200-1300 band is broken and the price action seems extremely bullish now. I will follow 1200-1375-1300 waves to form. This formation might be a long-term Elliott Wave cycle.