Hi fellow tradingviewers,
I am back with another long term view. This time it is on gold. Please remember, that this is not financial advice, i am only showing you guys my view on things and there is no guarantee that this is going to play out.
If you guys like this analyses, please dont forget to leave a Like. and if you have any questions or thoughts let me...
Platinum is on a strong 1D pull back (RSI = 40.890, MACD = -6.510, Highs/Lows = -5.9250) that is currently consolidating (1H neutral) before the next bearish leg. A similar pattern was identified both on the RSI behavior and on the High - Low measurements. We expect the selling to complete a -11.00% decline and our short TP is 815.00.
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*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
- Pyramid scheme -
Donald Trump has tweeted. The price is going up. Might see a reversal of the downtrend
At least go down a little more. I would buy.
2600-2750 might be a good buy, join the trend start of an artificial bull market.
Break above the trendline with a very powerful candle!
Wait for a trendline and strong area retest, there is also Fibonacci 38% which is a great retracement ratio considering that momentum!
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*This information is mostly used for educational...
Elliott Wave view on Oil (CL_F) suggests a 5 waves decline from April 22 peak ($66.6) which ended wave (1) at $60.04. In the chart below, we can see wave (2) bounce ended at $63.32 at the blue box. The internal of wave (2) unfolded as a double three Elliott Wave structure. Up from $60.04, wave W ended at $62.95, wave X ended at $60.66, and wave Y ended at...
Ok so you have to admit...how similar are those two charts? Almost identical.
The good news: we still have a few good moves up culminating in a final push to around 7300 (last notable high of 2018 reached at the beginning of September).
The bad news: after reaching 7300ish we fall.....hard.
The ugly news: we never really recover, at least not in the short and...
gold is now trading inside a falling parallel channel!
1290 area is the first demand zone!
as soon as bulls come into play we will see a bullish violation of a flag.
for us, it will be a signal to buy.