I have adapted my strategy slightly here.
This time my stop order is only 5 pips below my opening candlestick. My target is still rather conservative at 1%, but this will allow me to accumulate trades later and increase the overall profit from this original trade.
Target =1561.1
Entry =1551.8
Stop order = 1539.3
Entry 1467.9
Stop order 1465.8
Target (1%)= 1482.7
Target achieved
Currently no other suitable candlesticks. I will have to find alternative strategies to entry.
Gold is showing a continued upward move started 2016
The price move move is accompanied by volume
Price traded volume confirms this on Monthly/Weekly
Daily - bullflag
This coming week am aexpecting gold to break out of the flag
Target immediate prior highs
Price has tested twice the support area of the consolidation zone forming a double-bottom
Posted this several times already and my confidence grows everyday.
This is a super-long term complex H&S. it has started to break out and is on the way to its completion point around $1800. If you respect the symmetry of the chat then I think we will get there by the end of March 2020.
Long all the way.
1524 is a key number for this week. Weekly candle close above indicates the bulls are still eager and correction will be short lived. Weekly candle close below indicates supply is stepping in and a correction all the way down to the 1460 would be expected. All in all Gold is in a strong bull market. a fundamental catalyst of reduced economic uncertainity would be...
After reviewing the chart for GC Futures, I believe there is prospect to the long-side. Based on the way I frame the markets, I would need to see a break (failure) of the opposing 61.8% level at around 1600 and then see a measured move long at a 50% level. Obviously smaller time-frames would need to confirm this at the time to be able to enter into any trade....
Recently gold is moving in a range without any direction around our supply zone but the most important part of the story is that it's respecting the downtrend line starting in February. The main reason for a rally currently is the shaky situation around the US-China negotiations, the higher tarrifs kicked in tonight while the meetings with the Chinese delegation...
Seen some positive price action in gold since May 2nd bottom. With the equity markets in absolute turmoil, coming weeks may be favorable for gold. Regarding the price chart, we are seeing some higher lows in the 4h and 1h time frame. A breakout through the the resistance line and a retest should be kept a close eye on.
Obviously i believe history repeats itself and patterns appear several times throughout history specifically in bubbles. Every time it will differ because of market conditions being different but both follow a similar general path. Just having a bit of fun analysing some historic movements.
5 year long resistance area . May be third time lucky!
Financial climate looks set for a possible breakout. Will be watching closely to see how this plays out.
Keep an eye on the red box.
Gold has broken above the black trendline and has held as support in the last days. Prediction is it will test again which should trigger the buy. Profit should be taken at major resistance at 1365 USD. Stop is at 1279 USD.
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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GC1!
