The inverse relationship between XAUXAG and Gold prices is exceptionally strong. I believe XAUXAG is currently going to continue declining for technical and fundamental reasons. Fundamentally being that interest rates are likely to come down in the not too distant future and this market will be pricing that in. Plan B is unlikely and will review if I get stopped out.
The major Elliot Wave pattern suggests price will reach all time highs in the next gold bull market / cycle. I believe it is due and Fresnillo has probably bottomed. There is a chance we could continue to have a few more weeks of weakness in Gold and Silver prices which is likely to send Fresnillo a little lower first but I think we are close enough to a bottom...
I think Tesla goes to at least 200. I think there is also a good possibility it goes all the way down to about 40. There is a logarithmic line in confluence with this idea too.
I see a convergence of two major patterns forming and lining up with high impact news event tomorrow (Friday 27th). The conservative option is to place the trade with the stop loss at the red horizontal line. The most aggressive is to just use the red zone though you run a higher risk of not being filled. I will be doing a hybrid of the two and entering slightly...
It seems like the bottom might be in for Copper. Numbers on the right for entry and stop loss. To be more conservative you could place the SL below the purple zone but your RR will be lowered. 35% gain with no leverage targeting $4.85.
I have just gone long on Gold, I think the bottom is most likely in now. High reward trade, and my conviction on this one is over 50% chance. 15R expectancy on this one. (30R*50%)
I'm very confident in this idea. I believe the bottom is in, structure has been broken and a clear range has formed with confirmation price will now rise. This is good for a long term investment and also a trade idea in which you can gain over 30% until the first target. There is also a dividend of over 5% on this stock which makes it great to hold long term...
I think we are most likely seeing a false breakout in Gold. Recent dollar strength has sent dollar base pairs in the FX market (e.g. EU, GU) down however it is has not impacted the gold price. Dollar going up generally means a risk off environment is more likely and we have not seen that impact Gold yet. Essentially there is a divergence between dollar prices...
I believe Gold is close to bottoming - we may see a short term move down on Gold due to dollar strength, however I believe the cyclical effects of Gold entering into a bull market will overpower the impact of Dollar strength weakening risk on assets. The entry zone at 35.56 may be broken as it's possible a stronger move down in Gold will happen first. This could...
I am taking a small position on this Gold short to hedge the idea of dollar weakness in September which in theory should drive Gold prices up. What would be nice to see is a dip in Gold while dollar goes down and then we will have a nice case for a divergence setup when Gold finally bottoms. But taking a small position here as it is a hedge to long positions I...
Oil Short 50R High risk high reward trade idea. NFI. Elliot Wave + DXY as confluences.
High RR trade Elliot Wave Strong signs of commitment to the downside.
106RR Oil Short TP $67 Again, the higher time frame commitment is bearish so looking for lower time frame opportunities to enter. Last two recent trades on Oil have been losses. This one is also high risk, but if it fails I see another opportunity to short a little higher up. I am confident though we will move down to at least $67 though. Just a matter of...
37R short opportunity on Oil. Last 3 shorts have been stopped out.
Incurred 3 consecutive losses on Oil shorts now. I see a couple more short opportunities coming up if this short fails. I like the one highest up the most. Will have to confirm both with patterns for them to be valid.
62R Oil Short Opportunity. Scaling in to existing short position. High risk reward.
31R trade on EURCAD. Entered with a limit order a few moments ago but didn't have time to post the setup. I have 50R on it, but I think 31R is still great risk reward with a good chance of it playing out.
I think HEX may have bottomed. 12,000% move possible if price returns to ath. 410R trade.