This is the daily of Gold.
Whatever market we're looking at, it's all about the US Dollar - and will continue to be for some time. The DXY has broken above major support. That being the case, I find it inconceivable that Gold should rally... yet, I cannot ignore the bull div forming in Gold.
We may be looking at a pause, in which case a breakout of last week's...
Gold is breaking the final frontier of a multi-year pennant. It is now nestled below trendline resistance and the weekly 200MA.
Could this just be a false move?
Unfortunately for the Gold bulls, Gold has to contend with a a very bullish USD. Unless the USD is going to make a move to the downside, I cannot see Gold making ANY serious upside traction.
So Gold broke the upward trend line it has been in since 2016. Now the price now has two options.
Perform a dramatic bounce above 1250 and stay above the trendline and recommence its upward trend.
Or more likely bounce and touch just below the trendline and test another fibonacci retracement line down lower.
It appears to be more likely the re-emergence of...
Downward point triangle indicates downward pressure, followed by a reversal in trend and a large upward correction.
Similiar longer term pattern in playing out with large downward pressure, followed by a reveral in trend and large upward correction possible to follow?
However first Gold must not break the upward supporting trendline otherwise this idea is void....
2018 has been a very exciting year for the dollar thus far. Volatility has sky rocketed in the last couple of months, the FED has indicated a reduction in QE and Donald Trump has been tweeting away. In my view, I believe the dollar holds a more bearish outlook due to the following factors:
1. Rise in political tensions between China and US
Gold should break this horizontal triangle formation and break through resistance at 1360 in order to maintain that Gold USD is on a bull run. Otherwise look down below.
I am more inclined to think this will head upwards however.
TVC:GOLD is still in an uptrend and the current pull back is a turning into a good opportunity to buy especially with all the volatility in the markets. We should look to buy cheap in the Red Zone and hold until in the Green Zone. When we make good headway in the Green Zone we can sell for profit. This is not for day traders. Red to Green is likely to...
Shorts opened after gold bounced from 1366 trendline resistance, currently sitting at around 1338 - TP @ 1300 - will be looking at a buy if it bounces from support
Look at my previous idea to see the daily
I make use of the TDI indicator on my charts and look for when the price has extended through the lower or upper price bands and is turning either south (short trade) or north (long trade). Gold is sat nicely on a rising trend line and the TDI is favourable for a LONG trade.
Gold has been under pressure for some weeks and although we can't rule out a move lower a...
1.Weekly Resistance strong/valid
2.Profit margin 1:3
3.No major resistance until $1300.75
4.Price action below the middle ma Bollinger band showing signs of weakness
5.Price in strong Support
The GOLD market has moved north since second half of December last year. These increases are significantly less dynamic than previous falls, initiated by results of last year’s presidential elections in the United States and are moving within a growth channel.
Although, as a result of the last growth impulse, at the beginning of June this year market for the...