A very nice technical setup here with 1900 acting as clear solid support (floor) rejected multiple times as shown. This actually counts as two patterns, the way you want to look at it or give it a name. What isn't arguable is that 1900 has rejected support and is firm. The lower highs on the daily time frame suggest that price momentum is now squeeze. Looking at...
I remain long both of these CFD's since the original signal given for both linked below.
Gold (Inverted) vs. 10-Year Treasury Indexed Yield for 8/27
Looking for gold to put in a cycle low around September 7th before a strong move higher. Will be looking for longs inside the green rectangle early September. Keep an eye open this is a nice opportunity I think.
The clear "P" shape of the profile and recent news of high profile investors selling banks and buying gold miners suggest quite a strong opening this week in gold. I find the GBP gold price to be less prone to being pushed around by competing trading strategies that can muddy the USD gold price. Significant upside to above GBP1580 while unlikely, cannot be ruled...
Bullish Momentum Overnight to thrust Gold upwards to the downard trend line. Worth noting tgat this downward trend line will only offer a mild resistance and the possibility remains for Gold to see all time highs once again in the near term should the trend be breahed.
Since bonds first signaled a recession in April 2020 simply by using fractal comparisons of the last few recessions, (ask me to show you and I am happy to) Gold's been on a nearly 40% run, without a doubt outperforming bitcoin , hiutting a new all-time high this evening with gold futures tapping $2,000.
Looking at the XAUGBP market to give some clues as to the resolution to the standoff in XAUUSD. Price has come back to the POC at 1508 only to see the trading volume just lower puch the POC down a tad. Maybe nothing but could give a clue that further downside in XAUUSD may be afoot.
Original Trade Entries Given^^
Looking to take profits on my position at the high 1870s, with buy-limit at certain lower support prices. I do think there is a possibility that gold could correct a solid -10%, by looking at today's move for the gold volatility index.
Thanks for the support and I'm so happy to hear messages from all that are taking trades in alignment with the risk-mmmanagment, macro-economical, and signaling education I provide; are making some SERIOUS MONEY!!. Nothing is better than reading so much feedback form so many.
From my major entry and call long in May of last year, we've had nice gains on every reentry , sticking with a solid buy buy-only strategy. Why? Bond yields are lower--and heading lower-- real economic growth is slowing. With J.P. Morgan, Citi, and WellsFargo to release earnings tomorrow, I will be sticking to this long only bias for the foreseeable future. WIll...
Additional buy limit set at the lower risk range for gold at $1,762/oz. Profit is over +660 pips at this point giving us the ability to do some tricks, like dollar cost averaging a long-term hold on this beautifully colored metal.