At the moment the downtrend has been broken and we are seeing a good correction after the start of a new uptrend; If Powell's speech in Jackson Hole does not cause too much volatility, we can hope for gold growth. be profitable🤑
As discussed in this video, gold breaks out of the downtrend as indicated by the RSI which can be a reliable leading indicator when it comes to increasing your odds of foreseeing a change in trend.
I have made a post attached to this chart about the current JPY and XAU correlation and it shows that if we the expected sell of in the Yen we can look to short XAU down to area of balance labelled in this chart, I have drawn a horizontal box on the chart to signify the area highlighted on the JPYX Chart, Please take a look at the other chart below.
gold has a resistance around 1900 and above and according to the world situation, there are so many countries are struggling for their economy situation in this time I am not sure gold will go down
THIS MORNING i HAVE NOW COVERED ALL SHORTS The FED is going to let the inflation to run HOT I have now moved to a 100 % net long gold n silver
Copper futures. The rise of the metal depends on the 3.1315 support point to achieve the bullish movement, and we expect the metal to rise in the near term and also in the long term, it may rise from the current prices and the second wave has ended or the decline continues to the 61% level at prices of 3.3440 and the second wave ends there
I think we're already in recession, it won't take long before regular people and precious metals investors to realize that. Expecting a 🚀 trend for precious metals.
I think this upcoming dip in precious metals will be the last time you will see those low prices....
This is how i would play GAL. So much to explain could do with a video. But anyway il try explain. Identified three ranges. R1 R2 and R3.. H=High, L=Low and Mid = Mid range. Price rejected R2 High and is currently consolidating between R2 H and R2 Low... Plan A looking for entry on retest of R3 H or deep to R3 Low. This level has not been retested yet....
Clear relationship between the ratio of SPX/USOIL and precious metals. The ratio bottoms precisely when gold and silver prices peak. If you "zoom in" you can see a strong downward tail (shooting star) in the latest month. Compare to previous bottoming events.
Here we a potential buy at 1778 with a target of 1830 - 1837, stop loss below the low of 1773 We are looking for a bullish trend continuation from the .618 zone in the green box. Targeting the 1.618 extension & Daily time frame 50% confluence within the 1830's
OANDA:XAUUSD The 15N chart shows spot gold in a downtrend in the London market. It will soon hit sell orders accelerating the downtrend into the buy order zones. I believe that it will reverse and trend upward to the overhead sell orders which are at 1798 for one percent of upside. This is my idea for a day trade of XAUUSD on the forex market first the...
With more rate hikes coming in the future due to inflation still being too hot, this could be a reality. When commodities stop falling in the future with a dollar pushing higher (2023?), that should be a good time to really back up the truck with physical gold and silver #1. #2 Mining stocks in gold, silver, copper, uranium, steel, etc should also be on your...
SP:SPX With the ration at a top as suggested by looking to the left and the RSI pivot indicator, a strategy might be to exit stocks and buy spot gold. An alternative view is that they both might be about to downtrend but that gold will downtrend slower causing the ratio to drop. Please comment as to your opinion. Thanks !
TVC:GOLD has completed a full retrace back to historical support around the 1670-1680 zone. This area has help support multiple times in the past making it rather significant. With this full retrace came a fantastic buying opportunity (especially for stackers) that I personally took advantage of. I do not trade paper metals but simply use the charts to time great...
Gold, Crude Oil, IYC are about to enter a new phase. Take a look at 2006~2014 as a perfect example of what's next. Got Gold? This is going to be an epic run if you know what to expect.
Many traders believe the current setup in Gold/Silver is similar to 2018 or 2015. But the reality is this is more similar to 1999~2003 with a strong US Dollar and weakening global currencies. As long as Gold/Silver continue to strengthen while the US Dollar stays strong, foreign currencies will weaken and wreak havoc on foreign markets. Eventually, the risk...
XAU has done brilliantly since the last post with a rise of around $50, price now forms an inside bar on the 4H, an inside bar is often found in impulsive moves what it represents is a lower time frame consolidation so when we see as a green hammer/pin it can signify a good chance of imbalance continuing so because of this we have to look for previous levels of...