Hi to my followers, please feel free to reach out / comment and brainstorm.
With extreme global woes with equity markets experiencing some major drops to begin 2019, recession gloom in the US while their government is facing issues locked in a battle, gold is shining and approaching $1,300.
$1,300 is the last price level from my previous post that will indicate EXTREME levels as this would cross into the lows that were set back in March 2018.
Yellow Prediction: Preferred scenario that we find resistance at $1,300, it provides us with a candlestick reversal on a 4hr chart, and an execution waiting for the short once it closes below the trend line.
Teal Prediction: Second scenario labelling this first move as a Wave 1, the possible pullback could constitute the Wave 2.
Magenta Prediction: Economic global woes charge gold straight up to $1,350 breaking the January 2018 Highs.
EMA: 21,50,130 Quite bullish
RSI: Extremely oversold pushing past 95!!!!!
Stochastic: Extreme levels
Wave Count: My preferred is current wave 1 with Wave 2 to follow
Fibonacci Retracement: Between 78.6% and 61.8%
Fibonacci Extension: 123.6%
The verdict: Conservative shorts will be below the trend line. If you are looking for longs, wait for a break above $1,305.
The risk: Quite a few scenarios here due to the extreme volatility with global financial circumstances. Fundamentally there are issues in EUR, US, and China. Trumps stubbornness regarding his 5billion$ wall is also causing issues within government.
Disclaimer
The information provided on this article/post is general in nature only, and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this article/post you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy/sell or amend any product or keep or cancel a similar product that you already hold, it is important that you perform your own due diligence, understand the risks involved, read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
With extreme global woes with equity markets experiencing some major drops to begin 2019, recession gloom in the US while their government is facing issues locked in a battle, gold is shining and approaching $1,300.
$1,300 is the last price level from my previous post that will indicate EXTREME levels as this would cross into the lows that were set back in March 2018.
Yellow Prediction: Preferred scenario that we find resistance at $1,300, it provides us with a candlestick reversal on a 4hr chart, and an execution waiting for the short once it closes below the trend line.
Teal Prediction: Second scenario labelling this first move as a Wave 1, the possible pullback could constitute the Wave 2.
Magenta Prediction: Economic global woes charge gold straight up to $1,350 breaking the January 2018 Highs.
EMA: 21,50,130 Quite bullish
RSI: Extremely oversold pushing past 95!!!!!
Stochastic: Extreme levels
Wave Count: My preferred is current wave 1 with Wave 2 to follow
Fibonacci Retracement: Between 78.6% and 61.8%
Fibonacci Extension: 123.6%
The verdict: Conservative shorts will be below the trend line. If you are looking for longs, wait for a break above $1,305.
The risk: Quite a few scenarios here due to the extreme volatility with global financial circumstances. Fundamentally there are issues in EUR, US, and China. Trumps stubbornness regarding his 5billion$ wall is also causing issues within government.
Disclaimer
The information provided on this article/post is general in nature only, and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this article/post you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy/sell or amend any product or keep or cancel a similar product that you already hold, it is important that you perform your own due diligence, understand the risks involved, read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
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The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.
Twitter: twitter.com/TradersMission
The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.