The wave (4) has been completed as per the plan (see related). The wave (5) could be extended and of the same size as wave (3) and it can hit the all-time high and even higher level of 1965.
Working on Medium Time Frame GLD moving towards 175 for a potential breakout. Looking for breakout in GLD once the resistance zone 163–165 is broken.
For those in Singapore, on the Straits Times Index, O87 aka GLD is just about to break out of the triangle, having broken out of the MACD trendline, and into the bullish territory at the same time (yesterday). This is a bullish indication, which needs a price break out of the triangle with committed volume to follow. We will know as it turns into July... Targets...
Gold is coiling to breakout, having showed, of late, strength in holding up despite some selling pressure. Previously coiled, faked out and fallen back into a continued coil, it is running out of space, as the triangle/pennant comes to the end of the tip, as well as the 55EMA coming upwards in support. MACD has just crossed up into the bullish territory, and now...
Gold (AUD) has been in a secular bull market since the early 2000s Four easily identified formations (last 3-4 years each). The current formation still has a way to go to be 3-4 years old. Ascendening Broadening wedges, Falling wedge, Up channel, Slight ascendening broadening wedge or Up channel (current formation).
Why the Bearish on Gold miner? Africa is shut Down for 14 days!, all mining activity shutdown! Most Africa based miners are DOWN!! Pending follow up with more EURO shutdowns. sooo? SOOOOO, This company is up because Gold is UP, Please buy it because they think it's GOLD! EVEN So, people only buy gold due to fear of recession bets and fear of the weak dollar. But...
Gold - Who doesn't love gold? Well it's going to cost you. Gold going to 1750 unless breaks trend line? Entries at trend line with tight stops increases your risk to reward ratio. Do you have the GOLD Finger to take over the world? Haaa Haaa Haaa Haa!!!! Market Hyenas - Everyone Eats!!
There is a turn ahead. Too much exuberance and you may miss it...
Volatile market. GLD too expensive, high premium. IAU excellent alternative. Shorting Gold for IAU $140 Strike at $0.15. GLD/Futures approximately high 140's.
Gold Long Position Update 19:32:31 (UTC) Wed Jun 10, 2020
Gold, as it appears, has broken out. System Buy signal should be along shortly, Fundamentally, on the back of a topping equity market, and the Fed statement that QE infinity and low rates will be around until 2023, it probably triggered some Gold buying. Technically, after bouncing off the 55EMA, Gold apparently broke out of the triangle, and MACD crossed up in...
Short $GDX 34.53 SL 37.49 (-8.6%) TG 12.40 (+64%) Regular Flat ABC Pattern w/ Divergence
Gold (GBP) daily- Up Channel, within Upchannel. Futher deatils about Up and Down channels: thepatternsite.com
Gold (USD) daily- Rectangular top within a Right-angled broadening formation. Rectangular tops (are Horizontal Channels entered from the bottom)- Have a 63% probability of eventual upward breakout. Further details: thepatternsite.com Riaght-angled and Broadening Formations- Have a 54% probability of eventual upward breakout. Overall, a poor chart formation...
Gold (AUD) daily- Ascendin' Broadenin' Wedge(ABW) inside another ABW!