Long or Short? Let`s straddle!

COMEX:GC1!   Gold Futures
304 3 38
Logterm: Long
Shortterm: perhaps short

The longterms pattern - the bullish flag - sounds the bell for the next round - and is still valid! Trading above the illustrated flags upper edge will open the TP @ 1402$. The flag pattern is as long valid as XAU is not trading below 1195$.
If you are an anticyclical shortterm trader, a shortposition at the actual level is thinkable - TP could be the uptrends bottom edge at 1240$ and the flag bodys bottom at 1200$
In my chart i have illustrated both positions.

former analysis:
IMO             the correction we see this moment has just a shortterm consolidating character. The consolidation down to 1270$ was just the minimum correction of the last upmove (1228-1301)..we hitted the 38,2 fibo-retracement. If xau will not trade below the 0,5 fibo respective 61,8% i exspect new Highs, because i clearly see the bullish flag pattern with TP @ 1420 . Additional, i see a clear 1-2-3-long Setup...

Adjustment of the origin flag

Gold-0.46% on it s way up or will the consolidation go on?

Former Analysis:
Double Bottom or new selling Signal?
XAU is near it s former low at 1.071$ .
With Prices below that Level, the downtrend will perhaps tighten with the tp, mentioneds in my former Analysis (TP from the flag) at 1.035$.
Could the Level at 1.070$ be defendet, xau has the Chance to develop a double bottom . Fiorst target (minimal target) of that Formation would be the 38,2 fibo at 1.116$
Will XAU break it s resistance ?
The resistance Zone is characterized through the sma200 and the old supporting trendline which turned into resistance.
If xau can trade above this Level @ 1175 the next tp can be 1210$.
If the resistance could not beaten, a new downswing can be exspected. The tp of this downswing could be 1125

Trade active: Fictive Longterm Position triggered
Comment: Flag-Move in full swing...
Comment: nearly reached TP...
Example for an Initial SL. I chosed a Level near below the 61,8 fibo-retracement of the latest upmove. Here is defined the Maximum correction Level of that move.
marihuana-aktien marihuana-aktien
preferred Szenario is a dip to the 38,2 fibo @ 1.273 or a touch of the breakout Level @1.290. Perhaps the overshooting will go a bit further - this is the illustrated blue line
marihuana-aktien marihuana-aktien
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out