cozzamara

GOLD: into the end of July FOMC meeting

TVC:GOLD   CFDs on Gold (US$ / OZ)
Hi Guys,

just some infos into the end of July FOMC meeting.

For additional infos about Gold please refer to the related ideas linked at the end of this post.

Thank you for your support and for sharing your ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Comment: Bullish or bearish flag? Accumulation or distribution? Maybe an ending diagonal? Let's play the game. Lol
Comment: Elliott Wave Theory Structure; An Ending Diagonal (extract from source Elliot Wave Forecast) QUOTE: "There are a few conditions that ending diagonal waves have in common with a regular impulse. Firstly the whole structure will be five waves however it will subdivide into the aforementioned 3-3-3-3-3 instead of 5-3-5-3-5. Secondly the wave three will not be the shortest of the five wave move thus either the wave one or the fifth wave will be shorter than the wave three. Finally the fifth wave of a bullish market ending diagonal will have a lower momentum reading such as on a RSI indicator where it will be showing some divergence compared to the wave three." UNQUOTE
TO NOTE SIMILAR STRUCTURE IN SILVER:
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Comment: #Gold may be unfolding an #endingdiagonal into today's #FOMC meeting. If so, it may not be the right time yet to play #RSI divergence . Rising wedge or flag not sufficiently mature #IMHO for a #pullback.
Comment: July: Long legged doji
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Comment: Falling interest rates cause bond yields to fall, thereby increasing a bond's price.
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Comment: The USD/JPY currency pair has traditionally had a close correlation with U.S. Treasuries. When Treasury bonds, notes and bills rise, USD/JPY prices weaken. The logic of investing in this currency pair is that the U.S. would never default on its bond obligations, providing a secure, safe haven status and ultimately making this allocation a long position.
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Comment: work in progress
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Comments

Man, I was worried there for a second. Wasn't the best of trades but now in a long that seems to be doing fine. Sometimes we get lucky
+1 Reply
cozzamara speedracer1234
@speedracer1234, I've been thinking about your positioning. You had the stop at 1400 and Gold reached 1400,35 before resuming its run...incredible...well done dude. Luck helps only the braves. GG. LOL
Reply
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