If Price goes down and break 1225, it can be Wave #3 and our targets are: TP_1: 1214 TP_2: 1201 TP_3: 1184 TP_4:1136
Now it confirm that Wave 5 is end. Trading Plan Wave A : Look at the head and shoulder pattern and it is confirm that go down. Wave C : Go down for a long way.
Looks like gold is carving out a head and shoulders pattern. Although the most likely neckline for this pattern is near 1220, I would need to see a break below 1191 support before expecting further downside.
Potential Short opportunity due to what is mentioned in the chart .
With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) With the history of miners leading the commodity in moves, I'm expecting gold to make a move higher (see GDX charts): - We again have the bull flag being made, with any bearish attempt to...
With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) - Just as the GDX, we have a beautiful parabola, followed by an attempt to go to 1180, which was rejected by the bulls - This creates the bull flag / pennant that was see now, which was...
With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) I was expecting it to retrace down to the 17 area to "fill the gap" Instead it created a bull flag / pennant , and then in 3 days , broke out of our channel and above price action All very...
With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) My target area Short Term is 25-28: - We have the 23% fib retracement from our move down from our All Time Highs in 2011. - Weekly 200 ma - Solid price action (horizontal black lines) -...
Monthly downtrend broken. Weekly in an uptrend, daily in an uptrend Looking for long positions in Gold. Supply needs to be removed first though, for long trades to set up with a good enough profit potential
We are moving in ascending channel and just bounce from its resistance and formed H&S on top. Sell order: enter at 1240 with SL 1247 and TP at 1225 Buy limit order: limit order at 1225 with SL at 1217 and TP #1 - 1245 and TP #2 - 1256 Happy trading for everybody! Feel free for comments!
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