📌 ridethepig | Gold Market Commentary 19.01.2021
A basing formation with Gold, which does not require to create a 'double bottom' pattern, is undergoing a direction change. It advanced as far as our $1,960 target and has found cramps. Finally, there is the opportunity for a breakthrough.
As an example of this, let us turn to the well know diagram ' Gold...
📌 @ridethepig Gold Market Commentary 04.01.2021
This is illustrating the notion of 'total mobility', and also touched on a problem which we have not discussed in depth yet, trailing stops.
Here... we can quickly review the text book flows, firstly when you think of development and secondly because Buyers are threatening to become very strong now in the open...
in this market we broke the VWAP indicator with force combined with a large volume plus the breakout of the trading range this morning, means a very important buying opportunity towards the green line of resistence
this market is going to have an uptrend with a high volume with a breakout of the VWAP indicator means that the buyers will enter the market, so this is the opportunity to buy gold in 15 min and cash our profits in TP
signal buy GC1!
very important opportunity to buy gold because we have squeezed sellers with high volume plus we have a breakout of the VWAP indicator with effective volume this means that buyers have entered the market
signal buy , if we break the line of 1899.5 we have 100% probability of cashing our profits in TP
Probability: 80% Buy signal!
The market will keep going up.
You can use the Yellow Line as our First Resistance and at The Same Time Our TP1
If a Green Candle Cut with Force the Yellow Line Then We use it as a Support for the Next TP2 ( Blue Line)
Good opportinuity for two trade with circonstances.
📌 An important exchange here for Gold as late unaware buyers begin to go overboard on position length and combination of over expression. Sellers on the other hand are aiming for a pullback towards soft and strong support zones at +/- 1750 and +/- 1550.
I managed to carry out a deeply laid plan since 2018, although it could easily have been refuted since sellers...
Probability: 65% ( read it carefully)
The market will keep going up ( swing)
Stop loss: if the Red candle cut with Force the Red line ( i close the trade manually)
Take profit 1 : Green Line ( manually)
If the green Candle Cut with Force the Green line Then:
Yellow Line: is our second Take profit 2.
-Perfect nice uptrend angle.
-Last Gape has been filled.
-Nice rebound on the blue trending line.
The GC1! has been showing some intense moments specially during the end of Asian Session and the middle of American Session.
The blue trending line could probably be a support next week for a consolidation of the New Gold Era! The Gold above $2000.