A New Golden Bull

COMEX:GC1!   Gold Futures
383 10 7
After the Gold             Bear Market, Gold             found a Major support @1180, where it was able to make a double bottom after bouncing from its major resistance @1425

The breakout occurs after the price broke both, the 8ma and 21ma resistances, the 8ma crosses over the 21ma, and a MACD and price positive divergence occurs, which are all bull signs.
The next Resistance will be found @1350 at the 55ma where it will make a Cup and Handle pattern and probably will start a new uptrend.

The technical conditions are set for a new gold             rush, which can be fueled by fear of economic conditions like unemployment, new house price index, inflation and the shadow of a new bear market in stocks.
I still don't have a position in $GLD, because I see a resistance coming from the 55ma and a possible Cup and Handle pattern after the breakout, and that'll be my entry point. Probably forming in a couple more weeks. Thank you Tim for your comments.
Thanks - I view TV as such a great way to track specific trading ideas, entry levels, stop losses and targets, that we could really build a great consensus and a track record that could really teach people how to trade and how to take risk. I hope you post a chart when you see a trade set up. Thanks for the reply. Tim
sir can you share the strategy with me it truely the great one
timwest ShahrozLodhi
Hello ShahrozLodhi, Can you elaborate? I think you are asking what is the best strategy to use but I think trading is a lot like hunting or fishing. You determine the habits and schedules of the game you are tracking and then find times when they are quiet to go after them. Your hunting ability is determined by your ability to follow and stick to a plan, but also to adapt to the situation and understand how much you are willing to risk ($-wise, or time-wise). Have you read many of the charts I have posted yet? Feel free to PM me or keep this thread going. All the best, Tim
sir can you taught some strategy to me....i am weak in tecnical analysis
timwest ShahrozLodhi
I would recommend that you read about a variety of strategies and see if you can understand a few of them. Then practice them and follow them and see how you feel when a signal occurs and ask yourself "can I take this trade that my system is telling me to take". Then you can decide if that method can work for you. Educate yourself, then Practice, then Feel How You Feel During Signals. This will help you Decide what to do. Do you know that TradingView has plenty of fundamental data sets that you can graph? That way you can use fundamentals, like revenue growth, dividend yield, Return on Assets, etc, to help you make decisions. All the best! Tim (Try - Technical Analysis and Trading Systems)
timwest ShahrozLodhi
I can speak with you on the phone and work with you that way also.
yess sir sure sir
can we talk on skype or whatever way you want sir
Nice chart. I found you based on your COF chart. Can you label your target, or your stop loss (if you are buying right here)? Can you define a strategy to exit the market? How much risk do you have if you enter the market here. It would be very helpful to everyone if you could set out price levels where you deem yourself "out" of your position. All the best, Tim
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