As per the previously shared idea gold exactly hit 2050 , Is it right time to short.? As per the Fibs and descending trendline gold looks like on the resistance now but any news can spark it to 2065 too. Resistance level : 2050 ,2057, 2065 ,2088 Support level : 2041 , 2033 ,2026, 2015 Disclaimer : Plan your trade accordingly before risking your account...
Last week saw a lot of emotional buying of the market. While some short positions were not viable later in the week, there has now been a clear rejection from: 1) The higher zone mentioned prior: 2) The previous long term weekly H&S pattern mentioned back in August: In terms of current price action, it seems that an inverse H&S pattern is forming on the...
Gold has reached a significant resistance level on the 4-hour time frame. We're observing a potential selling opportunity, considering the chance that it might retrace from this point through an imbalance evident on the 4H chart. It's important to note that this should not be interpreted as financial advice. It's crucial to effectively manage your risk in any...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
If you haven't followed my analyses for the last 15 years. You'll know, I am a BIG gold bull. Yes I know gold hasn't performed as well as it did in the 50s, 60s, 90s etc... But it's the tortoise of commodities with the algorithms, the exposure in longs and shorts and with the greater variety of safe-havens. But Gold will eventually head up to $100,000...
1. Gold in top trendline / channel 2. On 4H resistance level 3. It's still hanging in there but my gues is it will drop from here 4. Stoploss could be a bit more loose for conservative SL 5. Go short and manage risk
Hello traders, hope you are all doing great so far and having a profitable week, as you can see on the 1h chart, gold has been making a Wyckoff schematic, so far we are seeing the price going up to that supply zone, I'm expecting to go short from that supply zone to the downward demand zone.
This short trade setup is a high probably move to the downside which should complete the overall Wave E pattern. In the video linked below I explain in further detail what we are looking at here. Entry: At Market Stop: $1811 Target: $1677 Risk Reward Ratio: 9 Remember to use Disciplined Money Management Principles to ensure longevity as a trader. If...
In this video I explain what we are seeing here and what this pattern is. Given that I have adjusted the type of pattern identified and added the channel, this indicates that the downside is limited. In order to complete Wave E we need to see the last part of this wave v zig-zag unfold and make one new low. Entry: At Market Stop: $1811 Target: $1677 ...
Here is my long term projection on gold short.... right now we are on the way to the 50% fib and the 61.8%...i am not quite sure which will be bottom Because the 50% is at 1600 and the other at 1520....waiting for price action @1600 to see what will happen will update accordingly
SELL setup at the 60 level is coming to play.... We have a potential H&S forming....this week might be the time we form all time lows
Hi Traders, Ending this week off on a big red after Thursdays crash, gold finding support around 1745. With Friday showing more buying pressure than selling pressure we would expect price to retrace slightly to around 1773 - 1780 before FOMC. This would give us a good area to short for the possibility of tapering starting on the 22nd of September. The...
i be more patient and always wait for the retest!
The last Gold idea was not triggered but now the waves have become clearer. My view of the medium term pattern has changed slightly. I will touch on this in my next gold video. I am expecting a pretty decent decline in Gold which IMO should be at least 15%. For now just looking for an entry to short this market. Entry: $1834 Stop: $1865 Target: TBA Remember ...
In this potential short trade we are looking for the start of Wave (C). Only trade this if the following conditions are met. Entry: $1830 Stop: $1851 Target: $1744 Risk\Reward Ratio: 4.5 If price goes above $1851 before the entry level is hit then this trade idea is invalidated. Remember to use Disciplined Money Management Principles to ensure longevity as...
If you are taking other peoples advice be careful! If you are doing like crypto hodlers and economists by extrapolating be warned! You will get burnt. In this video I give you some golden nuggets for free but most importantly I prepare you for what comes next. Please LIKE and FOLLOW to get notification of updates and future posts. Original Gold Short Idea...
COMEX:GC1! . Target: $1750
Hey traders, I was in a long gold position today, unfortunately price spiked down to my stop loss. I linked my previous analysis and trade idea. Now I'm waiting for Gold to come back down to 1495 at the minor S/R before entering long. Gold is still in an ascending triangle pattern and for that reason i am bullish. Price today was unable to close below the...