hey traders, here is my multi-timeframe outlook on gold: on a daily the price is still coiling on a major falling trend line that the price touched last week. Taking into consideration that the global trend is bullish, I still expect a bullish reaction & continuation. However, checking the situation on hourly time frame, we can clearly see that the price is...
Gold looking to continue slide down through the support at the linear regression channel middle and test support on that pink trend line (both MACD and RSI seem to confirm a continued move down). RSI seems to be indicating this correction is stronger than the previous one (see notes in RSI on chart). I will be looking to see if the pink line can hold. If not the...
Here DXY is performing a major breakout to the upside, which will put it in a bull run for some weeks We have bullish divergence on the daily and weekly, and hidden bullish divergence on the monthly Talk about a momentum shift. After the 9-10 month bearish run it is now very likely gonna be the opposite for the dollar This should cause weakness in BTC and the rest...
Provided DXY can clear the inclined resistance, we will see a re-visitation of the 93-94 level, with real consequences across the board for commodities. Continuation of a bearish downtrend should resume if this plays out into February, with a deciding point potentially playing out into August. Fundamentally I expect a year of spending/money printing to weaken...
GOLD could look to bullish here if the 0.618 fib holds, although im not an expert in harmonics i just noticed a suspicious pattern lol. please tell me if the numbers are off haha
Looking to see if silver holds or breaks down at the $24.80 price level. IMO, it is starting to seem that silver and gold are too old school for new investors and the serious trading is moving to bitcoin. Bitcoin up something like 50% in a week while gold and silver are making large pull backs.
Here is my chart and I am see on the 4h what look like the end of a correction and getting ready for either a rally to $2000 or sink back to support at $1873.
Gold forming an inverse head and shoulders pattern on the daily timeframe Price has touched the 200DMA and tested it yet again indicating a bounce 61.8% Fibonacci retracement has been touched indicating the potential end of the recent downturn Price expected to bounce and reverse higher in another attempt at breaking the 2020 ATH Long positions will be...
Gold price action forecasting with the ascending trend line and 4H 55MA If trend line breaks, targeting 61.8% retracement and another attempt to break back up Else, forecasting a bounce from current levels/trend-line to break the strong resistance and push further after retesting via a S/R flip Price could swing either way but if I was to choose I would be...
Gap closed and 0.5 fib retracement weak dollar and a channel breakout on higher timeframe, mean buying the pullback makes sense. stop under the low.
Gold has broken out of the descending channel and reached the first major resistance zone Given the bearish RSI divergence on the 30min chart and the divergence, there is a reasonable case to open a short position Target will be the 61.8% fibonacci retracement which forms confluence with the 4H ascending trend-line
After securing major profits with 11 wins in a row we look for our next play. We have decided not to trade within these areas as the news has been controlling the price action. As you can see we hit major overhead resistance in our green take profit zone ( We closed all positions in profit @1897 - You can see previous post ) and had a pull back. So where are...
Amazing Price Action on Bitcoin this weekend. Bitcoin has risen $500 almost everyday since November. Institutional money is flowing in. We have heard about Square's acquisition of Bitcoin. We have heard of Paypal's wallets and adoption of cryptocurrency. There have been reports that many other whales have been taking part in the recent Bitcoin move. The most...
Stock bounced nicely off the 50dma, and will consolidate here due to some warrant overhang. Eventually it should break through the triangle once the the warrants are done with. Short term target is $0.15 by end of January
Cup and Handle Pattern poised to play out Q1 - Q2 2021