Great one here straight off the bat great upside potential - ignore indicator below its inaccurate gold will push up BITFINEX:XAUTUSD OANDA:XAUUSD TVC:XAU NASDAQ:XAU TSX:XAU BITFINEX:XAUTBTC FX_IDC:XAUUSD BITFINEX:XAUTBTC FOREXCOM:XAUUSD FX_IDC:XAUTRYG OANDA:XAUEUR BITFINEX:XAUTUSDLONGS BITFINEX:XAUTBTCLONGS OANDA:XAUAUD FX_IDC:XAUTRY...
Gold Ascending Triangle 14:27:27 (UTC) Mon Oct 5, 2020
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.
TP hit for the !GDX signal, linked below. Well done to all that took this trade in alignment with your own trading strategies!
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^^