looks like it is entering into a new phase of trading. If the count of ABCDE corrective wave is valid then the next wave COULD be an impulsive wave.
If you're ever wondering whether or not the market is looking rocky, a good way is to look at Gold -- money will flow out of stocks and into commodities as a hedge, and in this case, GLD is holding within this symmetrical triangle. However, if GLD looks like it's consolidating here with the oscillators indicating strength. This *could* be a sign that investors are...
check out the MFI downtrend breakout. It might serve as an early buy signal..
After being in consolidation for a decent amount of time, a support trend line has been broken. Technicals are suggestive of more downside as a result of this break down. Look out for <1900... it would be rather obvious
Yes gold is going UP! But time to drink up to half of your cup of tea first. We need the handle on our cup. :) Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
look to place some longs on GLD
GLD consolidation pattern almost complete is likely targeting a pending wave (v) rally targeting the 2070 level. Working on Medium term consolidation. TSLA is also reaching equality of wave (v) vs. wave (i).
Just to recap again... 1. In early 2013, a “friend” brought me to a gathering, where the charismatic speaker claimed he was told that Gold would be tracking higher than the last high, etc. There was a following who dumped everything and loaded up on Gold then. I never went back because I saw the opposite. Clearly, from the chart, I was not wrong, although I...
I realize multiple people have identified the ascending triangle of GLD and stating it's bearish trend. Since the initial trend was bullish, why wouldn't it break to the upside? Congress is 99% going to pass another stimulus package which would be a positive catalyst for gold and silver. Any thoughts would be appreciated.
Quick note... BTC Bitcoin appears to have aligned with Gold in 2020. See the buy signals and one sell signal almost co-aligning in the overlaid charts.
Not something to short, but finally an opportunity to get ready for a second bite of the cherry, if not the last stop to boar the train is coming up... this expected pullback (mentioned before that it can pull back as deep at 1400-1600 technically, despite all rational reasoning) mane deeper than expected. Regardless, it allows an opportunity to look for entry...
Bullish scenario hasn't been invalidated yet, but higher chance in my opinion of the ~167 to 160 move down . Expecting some more follow through to ~179.5 based on micro structure and corrective move up.
Gold bounced out of the last descending triangle, probably psyching a few people out, and we are in the red triangle! What do you see happening? Buffet just bought gold, so over all I am pretty bullish. If we break up I would expect $2015 as a short term target. If we break down $1830 minimum. Please give your short term opinion. This is not trading advice.
C&H breakout. Already broken HTF resistance on inflation adjusted chart.
GLD is still working in a price channel and a trend to the BULLISH side. Bouncing off the bottom support while consolidating. Positive S&P or DOW moves tend to see down days or sideways selling. Any bad news may see upticks within the Fib or BB ranges UP! Watch for Thursday's with Futures closings, Friday Option expiration's and "Witching" days, these are also...