rmanghi95

rmanghi95

The bullish fundamentals plus clear cup and handle on weekly chart suggest a bullish outlook for gold. In this context, multiple factors suggest that now is a good time from opening a long position: 1. price bounced from daily 200MA and from support trendline 2. stochastic over sold, rsi turning upward 3. price action around the zone 1850-1860, which seems to have...

rmanghi95

After having passed this short term support price bounced on 1h 200MA and pass the zone again. Now price seems to be willing to to retest it once againnas support.

rmanghi95

Wait for breakout and confirmation

rmanghi95

Pullback completed

rmanghi95

Head and shoulder and broke strong support. Keep it if you are short, target 1800, otherwise look at a pullback to the neckline for new entry

rmanghi95

Next stop ATH 12.500.

rmanghi95

The downtrend resistance is the only obstacle to ATH

rmanghi95

Strong resistance at 39.5

rmanghi95 Updated 

Good evening. As we have seen in april, covid is good for us stock market. Initial drop caused by fear, then more money on the stock market and more earnings for big corps." Companies are overvalued" is not a valid argument in my opinion if it does not take into account stock market inflation caused by stimulus. Biden is just about to win and the bull run will...

rmanghi95

In this chart this looks like a W formation after a sort of cup and handle. Stoch is ready, Biden is about to win, end of correction for gold? Interesting to notice that gold and stocks are extremely positive correlated now. It is known that this correlation tends to be negative in periods of anxiety and uncertainty and positive when the situation is better. And...

rmanghi95

Very basic

rmanghi95

Good evening, I think that there is some possible more downward for oil- tenkan-kijun sen cross on 4h -support broken. If you are in a short trade, keep it open, otherwise i think that a good entry point could be at the retest of the previous support. What do you think?

rmanghi95 Updated 

You can see from the chart that OIL is at the top of its trading range and it is going to fall at least to the lower trendline, given growing lockdowns for coronavirus. There is also an evening star forming now in the h1 chart.

rmanghi95

Good evening, I think that Gold should still complete the correction since monthly oscillators are still on overbought. I expect it to reach 1830 before heading again towards 2000. Maybe there is still space for some upward (1930) but i think that then GOLD will complete this head and shoulders pattern.

rmanghi95

As I said in the previous idea OIL is in a strong resistance zone and is going to fail given growing lockdowns. Short squeeze today has burnt stop losses at 41.50. Note also the divergence on rsi with resoect to the previous relative max at 41.5

rmanghi95

Good evening, I think that nasdaq is ready to pullback from friday's selloff. In fact, it is near a strong support zone with the horizontal line and the trendline below. Price has also closed an inverted hammer on the daily chart. Target is the downtrend resistance, then I think that two scenarios can occur. Or the stimulus bill is approved before the elections,...

rmanghi95

I thing that Nasdaq 100 is correcting from the run and has formed an head and shoulder pattern in the h1 chart, with target 11821 to finish the correction. There is also an evening star pattern on the daily.