the above structure is a follow up of my post published on Jul 3:
What will happen next? What does it mean the big divergence with sentiment? Is it an opportunity to buy the pullback for a run towards 1500 or is it a bulls' trap?
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.
I won't pretend I can understand everything you analyzed here as I am quite novice in all things trading. I understood that you've marked several casese of divergence in trends. Do you think that it is time for a bearish trend? Probably depends a lot on news from USA and general instability in Middle East and trading war between USA and CN.
cozzamara
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@RadeMartinovic, Hi, don't worry. Sometime I don't understand myself either. lol The divergences are IMHO two. One bearish long term (the one marked in the last snapshot), and one bullish short term (the one marked in the yellow circle in the snapshot before the last one) spotted also by @JamesEvison in this post: As u rightly say next week will be in preparation of FED on 30-31 July + rising tensions in ME (Iran) + tension with China and, let me add (Brexit). Worries for a NO DEAL BREXIT play a very important role in gold IMHO as Brits are buying gold vs UKP.
I'm a daily swing trader therefore I don't know if it's time for a bearish trend. GOLD at the moment is very bullish imho but things may change very quickly. Recent seizure of the UK tanker is also bullish for gold therefore I really don't know what to expect on Monday. Thank you for your comment and good luck with your trading. Lol
RadeMartinovic
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@cozzamara, hey, thanks so much for explaining your charts. It means a lot!
I see 1450 next week target.