Gold is in a strong uptrend since the bullish Gartley, WaveTrend oscillator, MFI, RSI and stochastics oscillator indicated a perfect long-entry at around €1000.- on Oct 2018.
Price actions shows that Gold is currently in an impulse wave 5 which will end soon and turn into a ABC correction which should find support in the between €1111 and 1070.- in 2020 (Fib 0-618 - 0.786).
Price should find long-term support on bullish order blocks which were formed over the past few years between €1100 - 1070 which is a perfect accumulation zone for long-term Gold investors.
A short-term long opportunity for swing and day traders could be between 30 MA and Fib 0.5 between €1180 - 1143.
Volume profile also indicates HVN @ €1170 - 1155.
Short and intermediate term I´m bearish on Gold, however long-term I´m bullish due to the golden cross 50/100 MA!
Price actions shows that Gold is currently in an impulse wave 5 which will end soon and turn into a ABC correction which should find support in the between €1111 and 1070.- in 2020 (Fib 0-618 - 0.786).
Price should find long-term support on bullish order blocks which were formed over the past few years between €1100 - 1070 which is a perfect accumulation zone for long-term Gold investors.
A short-term long opportunity for swing and day traders could be between 30 MA and Fib 0.5 between €1180 - 1143.
Volume profile also indicates HVN @ €1170 - 1155.
Short and intermediate term I´m bearish on Gold, however long-term I´m bullish due to the golden cross 50/100 MA!
Comment:
Last week closed with a shooting star candle on the weekly TF!
Pullback is confirmed as soon as the support around $1489 / €1348 breaks.
When this support breaks a I´ll open leveraged short position!
Pullback is confirmed as soon as the support around $1489 / €1348 breaks.
When this support breaks a I´ll open leveraged short position!
Fed will print more and more FAKE money to push stock market to even high highs and speculators will sell there gold positions and FOMO into stocks.
Sooner or later the stock market bubble / everything bubble will pop and therefore it is a good idea to accumulate physical gold, silver and Bitcoin during downtrends.