Shanktown

Shanktown

Analysis of my 80 pip Gold Buy! Monday was extremely bullish. Huge gains were made. Very importantly too, gold closed above this massive trend line which started on August 25'th. These two reasons gave me look for more bulls today and buy up. I bought on the candle with the arrow. At first, it looked as if a double top was going to be formed. A push up,...

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Potential Piercing Line on the weekly bouncing off support. Closed above the 50% of the previous week's body. The Daily finished with a Shooting Star. Recently, This candle can funtion in two different ways. 1. Bulls lost out and bears brought price back down. More bearish movement. 2. A test of new highs followed by bulls pushing backing up and going...

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Breaking down James Storm's 300 pip Gold trade. This Gold trade is based off of a few important things: 1. Fibb 2. Trendline 3. Key levels of Support and Resistance. The entrance was stated to be around 1645 and TP target was 1675. The entrance matches up with the 38.2% Fibb retracement. Also, check the candles here: I would almost call the two candles...

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Gold looks to be making a descending wedge at support. Opportunity 1: It Gold is able to get a strong close/move below the yellow support, we could see sells coming in to take price to around the 1621 mark initially. Opportunity 2: If Gold can begin a strong move and close above this small trend line, price could move up to support around 1635. Long term...

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"Gold is a hedge against inflation!" You must have heard that. Everyone has. That's textbook doctrine. But, in reality, is it? how has gold behaved since we have really started talking about inflation? Inflation has continued to rise, but gold has continued to...fall. I saw a youtuber interviewing people around Wall Street asking them for advice with one...

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I shorted this area. I saw an M - Formation forming. The long upper wicks following the doji gave a clue that price would attempt to continue down some. Looking at it now, it looks like a bullish harmonic pattern.

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This trade setup is tricky. Near the top there was some consolidation with higher closes. The most interesting candle here is the giant wicked shooting star. this is followed by a bearing engulfing. But! A larger Bullish Engulfing brings price back high again. The next candle confirms that the bulls are losing out: spinning top. This is followed by a Bearish...

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Blue Arrow: The hourly had a doji, followed by a bullish candle-very tiny, then another slightly bullish candle with a long upper shadow. The upper shadow (wick) pushed up into a zone of resistance. If price is able to push above 1680, looking for buys. If price makes new lows, especially going below 1674, looking for sells.

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Here's how I shorted Gold from the upper yellow box. This was an area of resistance. It was also the high from last Friday. Price rejected off here, but eventually made it's way back up obeying a trend line. Once near the resistance again, price had trouble moving up. The yellow circle is where Gold wicked up, but created a Shooting Star. I was convinced price...

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This area showed potential to become a double bottom. The white line is the yesterday's daily close. You can see how two Hammers were created. This formation ended up being just part of a bounce of a larger bearish move. The candle immediately following the second hammer is a large Bearish Engulfing which closed right at the level of support. The next candle...

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Perfect storm for a 345 pip drop for Gold. Fundamentally: CPI was released. Traders felt it was negative for Gold and sold it. Technically: An Ascending Triangle which began on September 7th. This was a range between 1691.83 to 1729.52. The trend line was respected apart from two false breakouts. The resistance was also respected other than a false breakout at...

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Gold failed off its highs and had come back down. The opening candle today was bullish and brought price up to a resistance at 1726.92. Here, a Dark Cloud Cover was formed on the 15 min. This was followed by a doji and a bearish engulfing to confirm the downward movement. There was a small trendline created. After price broke below, I sold. I held the sell for...

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Last week, a trend line was created pushing price up. It is connected at the top to the weekly high and at the bottom to the weekly low. Looking at the recent candles beginning with the yellow circle. There are three large bullish candles. These are followed by a Bearish Engulfing, another smaller bearish candle, and a doji. This doji happens at about the 50%...

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I worry about the Daily's ability to continue bullish. Here's why. Starting at the purple vertical line, Gold created a Rising Two Methods (Usually called a Rising Three Methods, but since it is the same formation, minus one candle, I called it this.) This is a Bullish signal often times. Looking at these two candles, a Dark Cloud Cover was created. These can be...

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The Weekly on Gold shows a few interesting things. 1. Double Bottom. 2. The most recent candle is a doji. 3. Price often is rejected in this area in the past. These could be potential bullish signs. HOWEVER On the other hand, if price continues to go down, it could turn into something similar to what happened beginning in April 2013. Price pushed down about...

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4 hr Analysis We can see a Double Bottom was created. Double Bottoms can be strong signals of a reversal. Double Bottoms indicate several things: 1. Strong Support 2. Bears failed here twice 3. Bulls won out Looking at the yellow circle to start. This candle is a bit of a spinning top at the level of support. We can be sure that price will go up based on the...

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Take a look at how Gold pushed up! What did Gold do during Asian and London session? The yellow line is the daily close yesterday. You can see how price touched it three times. Just after the second touch, we have an Evening Star made. The following candle is bearish engulfing. Price has moved down. The third touch on the line is a bit of a fake out. The...

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​​How did Gold move 157 pips UP in 6 hours? The yellow box is an exhaustion area. It can be seen previously on September 1'st. The shape that is made here I've seen move up a lot. The yellow line at the bottom is what I'm looking for to enter. I want to see a push above that in order to enter a buy. At the bottom, we can see a long lower wick showing the...