piphunters
Long

GOLD: A golden buy setup

FX:XAUUSD   Gold / U.S. Dollar
3451 43 77
Gold             has broken the long term corrective structure to the upside, buying after consolidation above the trend line looks like a very golden idea.
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snapshot
Comment: we may have begun the corrective move down
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GOLD:  Don
Comment: ready for a break out!
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snapshot
Comment: possible buy opportunities around
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snapshot
Comment: another breakout anticipated
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snapshot
Comment: right now any dips are buying opportunities
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GOLD: Another Golden opportunity!
Comment: buy the breakout!
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GOLD: A possible leading structure for an upside impulse
Comment: possible impulse coming up!
will done pip..dont want miss this..
+1 Reply
piphunters Peter_238
great, probably in a couple of days it will be ripe for an entry
+1 Reply
nice! Will be on a lookout for this
+1 Reply
piphunters AlexxChan
yes as peter said don't miss it!
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I don't think this is a wedge, everyone thinks it is lately.
I feel the trendline is too obvious still.
+1 Reply
InsiderB PRO IvanLabrie
@Ivan, You mean trendline didn't broke, yet ?
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No, I mean that the trendline might not work this time, or it might be a fakeout before more drops.
For now the daily and weekly have a pretty strong uptrend though.
I won't short again since we broke monthly resistance.
It's an interesting situation, very extreme rally, should be interesting to see how it resolves.
That being said, it's half the speed/rate of change compared to the faster counter trend rally since the top, so I don't think it's a reversal.
+4 Reply
piphunters IvanLabrie
waiting to see the developments from here
+2 Reply
InsiderB PRO IvanLabrie
Agreed !
+1 Reply
GoodLuckbabe IvanLabrie
yes Ivan brother you are quite right on it its a very extreme rally.
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Agreed !......... Why don't you using moving average indicator? Sir....
+1 Reply
piphunters rajenderam40
sorry I don't use moving averages to do analysis
+1 Reply
Golden Cross over ;) 50ma > 200ma
+1 Reply
is it?
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Loii piphunters
soon. probably next week.
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okay
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I have a question....
Which is the real trendline?! Has it really broken out, or is it just like the other ones?

To me, this is most likely going to pull back again.

snapshot
+1 Reply
ZawOo PRO GeneraldisastersInc
theres no such thing as "real" trendline.
+1 Reply
"Real" basically means the most objective as possible - something every trader should see based on price reaching symmetrical levels consistently. I'm with General here.
+1 Reply
Its all imaginary lines we draw on a paper. Just this one might mean something to the astute trader.
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Lanmar PRO GeneraldisastersInc
Blue
+1 Reply
piphunters GeneraldisastersInc
I didn't know there were 'fake' trend lines either! use them for guidance purpose only and not depend solely on trend lines for taking trades, there should be underlying analysis which makes you take the trade or not!
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Csys GeneraldisastersInc
Although I have to agree with ZawOo in that there is no real TL, the right TL should be the one which goes against what you think.
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Always interesting to see an opposing opinion. I posted this just a minute ago, let me know what you think and maybe tag it in this to see what other people think.
Year-end gold prediction: $970-$1030
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piphunters olly_price
okay, let's wait and see how it develops!
+1 Reply
snapshot
this is very very possible setup brother as this falling wedge always break to up side but i am slightly looking on it from different point of view i think we are still in descending channel and price can fall back again but little cautious on it as MACD showing very strong divergence but i am waiting for the price action on channel trend line and response from MACD thanks for sharing
+1 Reply
piphunters GoodLuckbabe
thanks and good luck
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Great chart I agree
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piphunters Kevin_Lomax
thanks
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intraday gold setup

Gold Buy Setup
+1 Reply
good luck
+1 Reply
jhakas piphunters
thanks!
+1 Reply
you are welcome
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Nice observation, pullbacks can create nice entries. I usually work with parallels however I wanted to see where the current move sits with a fork and your chart workup......One thing looks pretty clear...the current move is at extreme based on my fork, I personally like it to close outside the fork and then close back in the upper parallel, However the fact that it pulled down pretty hard on the wide range weekly bar makes it pretty obvious that we should get some sought of pullback to equilibrium ( the median line ) around the 1180-1190 level....If it gets to that level we can then re-evaluated if it's just a correction before a larger impulsive move or a true change in direction. interesting to see.
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+1 Reply
piphunters Timing is key
nice, thanks
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that was very sharp did not look back to give chance those who missed the boat it was looking very sharp on 1 min chart
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piphunters GoodLuckbabe
yes it didn't, but now it's retracing back, will good to buy
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thanks pip :)
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piphunters Peter_238
my pleasure
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<
Boss will be mad

Look like movement
+1 Reply
piphunters trendlegends
possible!
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STOPPPP--.. How Many Charts do you post within one minute :-) :-)
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