Hi Guys, as the two red cups are, IMHO, supportive patterns,I'd like to know who is supporting gold. a) itself? b) gold industry? c) China, Russia, India? d) dollar system haters? e) fear of another Financial Crisis? Why should gold resume the negative impulse provided by the Financial Crisis 10 years ago? Soon the correction will be over and gold will exit...
...but it may NOT be. thepatternsite.com IMHO these formation cannot be found at the end of a bull run. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas. Disclaimer: Please note that I am not a professional trader and...
Hi Guys, here below same moves made by EUR/USD: 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...
Hi Guys, Gold is pushing lower towards that support next to the 3. RSI is diverging big time but price still pushes. USD/JPY at the moment is bouncing on resistance at 112. A break above 112 would surely help Gold to break that support. But for the time being USD/JPY seems to have lost upside momentum and Gold seems considering about a run towards 1300 or the...
Hi Guys, I hope Richard Demille Wyckoff will forgive me for this. Lol To view Wyckoff's accumulation structure referred above click this link d.stockcharts.com For a brief introduction to The Wyckoff Method please click this link: stockcharts.com Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and...
Hi Guys, the above structure is based on the assumption that gold, among other factors, is driven by negative economic outlooks and is considered a safe haven asset. For me the simpliest way to put it in order to undestsand price action in the last 10 years is the following: Financial Crisis have driven gold price up and the System have responded by implementing...
Hi Guys, week10's Rally reached 59 this Friday morning but failed to breakout for higher hights. Despite the Bull Run is still above 50RSI and supported by 50SMA, Oil is pulling back a little bit just before lunchtime maybe to re-test 58 to breathe and end the week. JUST TO NOTE: 1 future contract of CL (approx $3.500) bought last Friday and sold today would...
Hi Guys, the above structure may be interpreted as a descending triangle according to thepatternsite.com but is my interpretation correct? I was thinking about the Bull Run started by gold in mid-Aug'18 and its end (circled in the above chart)... ...I was thinking about the Handle formation following the Cup and unfolding price action inside this trading...
Hi Guys, this is what I see on the 4H chart. Here below a very similar structure I made two weeks ago. Please click & play to watch how Gold moved since then. To note the support formed in week9 following the dive. IMHO there are a lot of similarities between the support formed in week9 and the support is building in week13. Gold unfolding this move below the...
Hi Guys, the above structure reflects my view of the US Dollar Index (DXY). 100SMA supported the bull run started in 2014. 350SMA supported the bearish impulse 12345 following Trump's election. Structure since 2015 may be a wave 2 shaped as a bear flag that looks like a H&S with descending neckline. Since Mid Nov'18 hights made by RSI are diverging with hights...
Hi Guys, at the end of week12 price exited the distribution channel started in week9 and dived from 200SMA to built what IMHO is a short term support just a little bit above 1285 with 50SMA pushing down and stopping the pullback right at 1300. The pull back may extend into the 200SMA following divergence with RSI on Friday but only if 50SMA is crossed and...
Hi Guys, the scenario hasn't changed much since my last post. DXY still looking bearish into mid week11. FOMC meeting due tomorrow. 50SMA keeps pushing despite divergence with RSI. A,B and C are lower lows. RSI is making higher lows compared to price. If the index re-climbs above 1000SMA and crosses the 50SMA for the upside at the same time, DXY may commence ...
Hi Guys, in 2016 Silver made a bottom at 14$. At the end of 2018 it made another bottom at 14$. In 2016 price pulled back right into the 1000SMA. In 2018 Silver pulled back too but price have not touched yet the 1000SMA. In view of the above IMHO there is no need to enter the market at this stage. First need to build support above the pink 0.618 Fibo. When...
Hi Guys, since my last post on Tuesday, Gold made a run to hit 1.320 following FOMC meeting on Wednesday. The precious metal received a boost after the US Federal Reserve signalled no further rate hikes this year and balance sheet reduction. Following FOMC meeting though, Gold retraced 0.618 Fib of the move made the previous day and AToW is struggling to keep...
Hi Guys, Here is the link to a tweet I am posting...https://twitter.com/CozzamaraDaZena/status/1111187101981265922 #usdjpy 1H 25/3 showing triple bottom on price at 110 and double bottom in RSI oversold. It looks like the pair is on the edge of a cliff but if structure supports, and #gold keep going south, IMHO #usdjpy may well resume its run to end the week...
Hi Guys, I was doing a work on the 1H chart but I wanted to post this first. I hope the idea is clear...not sure about how that handle may unfold though. On the 1H chart a potential bear rally may be at its end but bias on that timeframe is still favouring bulls. If I am correct, a break below 1300 may prompt a further extension of the correction of the bull...
Hi Guys, tops are descending into 1285. sentiment diverge but bears keep pushing. Gold has been going up & down on support at 1285. On Thursday Gold seemed to pull back (V-shape formation) but nothing happened. I am seeing a lot of cups which may be the first signal that I am losing my mind. C'mon, get a grip Marshall, let it go, Gold is not pulling...
Hi Guys, here it's where Silver is in respect of its position prior to the 2008 Financial Crisis. Please watch the RSI and note the shift in sentiment that has been persistent since 2014. Silver has been in Low Sentiment for the last 5 years. Sentiment was runnung high before the 2008 Financial Crisis but fear drove money out of other markets into safe havens...