Is the once Goldman Sachs "slam dunk sell" turning into a layup buy? I cannot hate the initial call from many investment bank analysts it to sink to $1,000 because, in 2013, I issued a $1,035 bear-call. However, I do ridicule these analysts for unwillingly (either through ignorance or moral hazard) understanding the dynamics of gold. But in 2014 I turned rather...
Hi all, As I wasn't expecting such a big move up on a friday, I did not have time to post this chart yet. I expect the price to go back up a little bit more to the 15.85 area. This is a good position to go short. ----------------------------------- INFO ON THIS TRADE Entry: 15.85 Stoploss 16.389 Target 1: 15.3 (Risk:Reward = 1 : 1.05) Target 2: 14.445...
Roadmap......Gold is approaching strong overhead "Potential Resistance" into "Time". Breaking below the inflection point of 1142 increases the odds to attack deeper targets.
We had recently the breakout of a long term corrective strucrure and from now on we should keep an eye for bullish setups. We may soon have a very good buy opportunity if price breaks a smaller correction that formed after the breakout. So keep an eye for that breakout and you may then buy the market.
A test of the overhead supply is possible now
The Gold/Silver Ratio looks to be getting to extreme levels. Whenever Silver recovers compared to Gold it should be a pretty impressive move. Can the G/S ratio get higher? Of course but eventually it will revert back to more normal levels. Although Silver has been weaker during this last upward move, I would think Silver would outperform Gold in the next move.
Everything on chart. Good luck to all of us :)
im looking for push up the price from the level 14.500 which is 61,8 fib area. according to count we are producing wave 4. I have 3 targets 16,50, 17,50 and 18,50; Invalidation level is aroudn 14,39, as 4th wave cannot enter to wave 1 area;
Good morning traders, After reaching the target in previous trade and subsequent retracement, I´m ready to enter a new long with SL @ 15.160 for the next bullish leg. You can subscribe to my mailing list for FX Alerts : eepurl.com 6 Trading Rules : 1. Never add to a losing position . 2. Don´t be the first to buy low and sell high ., and don´t be the last one...
Today's Chart - XAU/USD Overview : Gold gave up some of its sharp overnight gains on Friday, but held above $1,200 an ounce as a drop in equities stoked fresh safe-haven demand for the metal. On Technical charts, Current trend of Gold is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom...
Watch closely the pink trend line. If it can hold the support then should have some room to the upside. Don't lose site that the Gold/Silver ratio is over 80 so Silver has been a little sluggish.