finally I see very good trading setup on gold
we have a head and shoulders pattern and bear flag + strong resistance on the left.
if the market breaks below the neckline, mostlikely, we will see bearish continuation to lower structure levels.
I have been bullish on Gold but the current structure is not yet clear. We could see a wave 2 completion and then go for wave 3, or that was it - the multiyear record high ended with a B correction neat $1560 and we now expect wave C to take place. I lean towards the formed scenario. What's your take?
Geo-Politics likely to positively affect gold:
A lot of discussion is going around on whether or not Silver has enter a new long term Bull Cycle. We are not against this possibility. But we thought it is useful to analyze also the scenario where XAGUSD is only on its way to a Lower High before diving even more on the long term and continue its multi year Bear Cycle.
On the three charts you see the current...
A little bar of 1 kg. It fits in the hand and pocket. It is smaller than a smartphone.
You can go with 3 quarters of the countries on the planet and live for 5 years with that.
If you held cash you would need a much larger volume.
What other form of money is a better physical one?
Even a multi millionaire can fit his entire wealth in a safe.
What other form of...
Insiders think bonds and metals will sell-off as the Fed remains hawkish. I thought the same until I saw this chart. 6 year round bottom with backtest almost complete. This could rocket higher than anyone thought possible.
after gold set lower high on 4h and dropped to a demand zone 1523 -1527,
for me, it was enough to look for a short trade on 4H.
I am paying close attention to an orange demand zone and wait for a bearish breakout of it
if breakout condition is met,
we can execute the trade:
T1 - 1512
T2 - 1500
IF the market...
Pattern: 1D Channel Up.
Signal: Bullish as the price is on the way to the next Higher High on the 1W Resistance.
Target: 18.200 and 18.800 in extension for the next Higher High if the pattern (-2.50% Support) holds.
XAUUSD - Wait for the trend break OR bounce!
We will either make a small flat correction similar to the one right before and continue the uptrend to break the recent top or we will start a much bigger correction pattern from here before continuing the more long- term up trend.
Wait for clear setups before entry!
If you would like me to forecast...
XAGUSD labeled within Bullish Corrective structure in Primary Y (pink).
- Intermediate (A) (green) - Three Swings Sequence in its Minor ABC (blue).
- Intermediate (B) (green) - Complex Correction which could transform into a Double Three if a move on the down-side shows strength.
Silver should be able to start a bullish impulse once the current structure...
XAUUSD labeled within Bullish Impulse in Intermediate (3) (green).
- Minor 3 (green) - Bullish Extension
- Minor 4 (green) - Contracting Triangle
Gold should be able to resume the bullish impulse after completing the correction in Minor 4 (green).
Minor 5 (green) should present a sudden and sustained rally.
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GDX - Elliott Wave Outlook
Bullish Swings - Patterns:
ABC swing in Intermediate (A) (green
Simple Correction in Intermediate (B) (green)
Ending Diagonal in Intermediate (C) (green)
Bearish Swings - Patterns
Sharp Bearish Impulse in...
End of the week and not a lot of movement from Gold.
ECB yesterday caused a spike back up to the $1500 area before a sell of on china trade relation improvements.
Today I see a small spike up.
US news at 1:30 GMT may cause some movement and then NYC open.
Will be looking at small scalp trades today.
Pure Charting Analysis (no indicators, only Pure Logic and 10 years of Experience) for your attention.
* Gold has found a local Support around 1,480 - 1,490 after making a multi-week double top at 1,550.
* This is a Buy Area for both, long-term and short-term run since more money flows into precious metals and gold market, so the bullish trend is...