eskgroup

Is Gold in Unknown Territory? Some go Long and some go Short...

FX:XAUUSD   Gold / U.S. Dollar
Hello Guys,

These are the reference points I will be following this week; subject to grandma's (fed) mood.

I believe we might be going up till Fed meeting only cause we bounced three times already from major trend line . We need to establish key reference points for cross to consider reversals...if we don't cross and close above those points we aren't going up (keep that in mind). First point is: 1110 and 1116 (white line represents 200MA!!! if we cross and close above it, we might be going North fast. Next point to watch is: 1121 (red line represents 50MA), crossing and closing above that we might see 1140s. Currently, I have a top at the yellow trend line ...it's all up to grandma boys - ohhh and keep in mind, crossing these points require STRENGTH!!!! I will hold my longs till I see reversal...that's my plan! Hope you guys agree with most of it, maybe our time frame is off but our ultimate goal is the same (make lots of freaking money)...My view is that if we don't cross and remain above 200MA we are still in bearish market (which I think we still are) my bottom target initially is 1082.

Feel free to comment your opinions...Love to hear your side of the coin...

Hello.
Thank you for your opinion to give. Just my view of the ascending and descending order Stoch RSI crosses above the geometric arrangement between the monthly chart, weekly, 4H, 1H, 3M and 1M I found that there was cross-corner collision in 1199, 1115.1121 and 1131.

Whatever there is resistance / support (you need to be sure of its own) in 1102.37, 1103.92, 1106.65, 1108.79, 1110.58, 1111.88 and between 1121 - 1124.61

By the count of the angle between the highest and lowest year 2005 until the year 2015 (counting up to 10 years) the highest increase will happen only 7% of 100% of the highest achievements that can be achieved is only from 1137 to 1138 before the Fed announcement on 16 & 17 Sept. Whatever it is up to Volume and market awaits Fed announcement on Sept 16 & 17.

Sorry I did not include charts
Reply
I was wrong paste. The latest addition

Hello.
Thank you for your opinion to give. Just my view of the ascending and descending order Stoch RSI crosses above the geometric arrangement between the monthly chart, weekly, 4H, 1H, 30M and 1M I found there was cross-corner collision in 1199, 1115.1121 and 1131.

Whatever there is resistance / support (you need to be sure of its own) in 1102.37, 1103.92, 1106.65, 1108.79, 1110.58, 1111.88 and between 1121 - 1124.61

By the count of the angle between the highest and lowest year 2005 until the year 2015 (counting up to 10 years) the highest increase will happen only 7% of 100% of the highest achievements that can be achieved is only from 1137 to 1138 before the Fed announcement on 16 & 17 Sept. Whatever it is up to Volume and market awaits Fed announcement on Sept 16 & 17.

If I use the indicator above the highest point count 50MA will find a midpoint between 1108.55 - 1110.69. Means there is a middle point between bullish and bearish.

If the count is made known as the Fibonacci golden ratio of 0.618: 1 @ 1: 1618 is available at 1116.05 point of the prettiest point to stop and take profit (count 1 H) and forward movement or the latest indicator. Fibonacci calculations but is from south to north.

I expect in the event of closure NY for the weekend, fractals will point toward the North.


Sorry I did not include charts
Reply
Hi, can you draw a less cluttered chart zooming in on the action?
Silver is forming an interesting bottoming pattern, maybe reversing here, gold potentially too but I'm not that sure.
This is an interesting read, figured you might want to check it out: http://www.zerohedge.com/news/2015-09-11/visualizing-chinas-mind-boggling-consumption-worlds-raw-materials
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eskgroup IvanLabrie
thank you for the link; not surprised of the numbers considering they are the manufacturer of the world...chart is simple...waiting for clear direction, and I don't think we will get it till after fed's announcement...I am still bearish for now (long-term with target below 1050s) but short-term bullish till 1113/16 MAYBE 1121...we wait and see..
Reply
Yes, we have a potentially very volatile outlook ahead, not atypical of bottoming formations.
I'm not trading gold anymore, but it's important to keep track of it, alongside EURUSD; S&P500, T-Bonds, Oil and USDJPY.
Good luck!
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eskgroup IvanLabrie
I believe you can zoom in on the chart! Sorry - this was my first attempt publishing...LOL! Still learning how to use this platform...
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Yes, I most certainly can.
Just a suggestion, it's really cluttered as is, I'm sure you can make it look cleaner and it will help others understand what you're seeing here.
:)
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