see full chart at www.tradingview.com FCX Entry $15 Target 1 $17 Target 2 $20 stoploss $13 Why? Why it is a buy? Stimulus bill #2 will eventually come out by 2021, Along with FOMC mentioning that they will allow inflation to run wild. what that means is that, the fundamental value of GOLD and other minerals will increase in price. While everyone is focus on...
Proposed Wave 5 will take price to 2150 to 2250 above previous highs into the end of 2020
Long consolidation in OANDA:XAUUSD is finally coming to an end, with gold breaking down to downside. Unless there is strong reversal in the upcoming hours, price of gold may decline 100$-200$ swiftly.
Long consolidation and several false breakouts, but in the end trend remains intact in OANDA:XAUUSD , as it is now trying to push to new ATH. Unless ~1900$ is broken upside scenarios should be favored for now.
Unless OANDA:XAUUSD would be sticksaved in the upcoming hours, we are likely witnessing start of downtrend which may bring metal as low or 1700$
Gold should retrace the decline up to the $2007 level at which point it will present a good short opportunity down to $1780
Looks like leg 1 in the retrace is complete and we may have started leg 2. With a little more confirmation I'm buying with a target of 1995-2010. SL - 1919
Great time to lock in profits
Short $GC_F 1760.1 SL 1788.8 (-1.6%) TG1 1591.4 (+9.58%) TG2 1521 (+13.9%) >>Timing June 30, 2020<<
Short $GDX 34.53 SL 37.49 (-8.6%) TG 12.40 (+64%) Regular Flat ABC Pattern w/ Divergence
The copper/gold ratio is traditionally viewed as a good proxy for bond yields, and that relationship has held mostly true of late. That said, we do not agree with all this exuberance over a topside "breakout". The ratio is sitting right in the middle of the recent range with heavily overbought RSI levels. Could go either way.
Gold got hammered today as U.S. Treasury yields staged a decent uptick, but the long-term picture remains quite bullish as long as this consolidation channel holds.
Gold has broken the trendline and has retested it. Breaking down from the bearish wedge should cause a sell to the 1700 level.
Gold has closed the week with a bearish cloud cover candlestick pattern. We also have negative bearish divergence on the RSI and cyclically we can see that from the 2011 high to the 2016 low we are due for another turning point here in 2020. I have already posted a trade to short gold last week but I am reiterating this trade as I think gold can go much much lower...
As the market reprice, and the FED pretends to know what they are doing, just follow the Fib to trade the safe haven, #gold.
The bear flag did not have much follow through and was stopped out. Shortly after the short position was closed, a long position was initiated for a reversal trade.
After a huge run up due to the Middle East bombing from Iran, a dramatic reversal presented a potential bear flag trade on gold for the near term. Here are the possible entry, exit and profit target zones for this bear flag.