Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
GOLD is in a triangle the best option is to open entry when the price will break it out.
On this chart, I showed bullish scenario because I think Gold has a big opportunity to move up till $1306.
Don't hurry to open buy or sell because when the price in a triangle there is no entry till it will break it.
Silver has broken through the previous Low into an emerging Channel Down on 4H (RSI = 40.361, MACD = -0.033, Highs/Lows = -0.0364, B/BP = -0.1060). The dashed lines however keep the price for the time being inside a Falling Wedge with 15.600 as the Resistance. If the price breaks the wedge downwards, the immediate target is 15.300. If it pulls higher and then ...
XCUUSD Copper ( Spot FX Rate ) is trading at 2.6570 as of writing.
We see a bullish bias in the industrial metals sector, triggered by the US/China trade talks.
On the smaller charts, Copper broke the bearish trend line. Metal is printing a cup and handle pattern.
Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to ...
(Frequency of Winning x Average Size of Win) - (Frequency of Losing x Average Size of Loser) = Risk
(.40 x 3) - (.60 x 1) = (1.2 - .6) = .6 Risk Unit...Trading is about math and risk management...The gist of the model is that you must keep your losses small and let your winners run. Indeed, many successful traders target a 3:1 or 4:1 relationship between winning ...
H4 - Price reached the bottom of the triangle pattern, if we didn't get a valid breakout here, we may then look for buys with bullish evidences.
We may look for conservative entry after the breakout of the most recent high with bullish evidences.
Or we may look for aggressive entry with the breakout of the top of the pattern with bullish evidences.
The target ...
“If you’ve been waiting, the wait is over. And I wouldn’t be waiting for lower prices, because I doubt we’re going to see them. The prices are low enough. Just buy them.”
This article was published on JUNE 30, 2016 when gold made a top around $1363 by known expert Peter Schiff, if one had invested or open any position in yellow metal at that time they would have ...
The market keeps pushing higher, therefore we are looking to buy the dips if possible, price is above the ascending trendline, and it has some support around 640 which it would be a nice place to take some long positions, and if price keeps dropping 616 is also a good place.
Please keep in mind that these are not trading signals, use your own analysis before ...
has hit a big resistance and even if it continues to be a rising market, its likely to complete a flag formation first which would be included in our tp.
It seem like USDJPY has completed the intermediate wave (D) (blue) of Triangle BUT Gold Still have 1 more leg up...
(Frequency of Winning x Average Size of Win) - (Frequency of Losing x Average Size of Loser) = Risk
(.40 x 3) - (.60 x 1) = (1.2 - .6) = .6 Risk Unit...Trading is about math and risk management...The gist of the model is that you must keep your ...
Which way will we break on this glosious pennant pattern, will we break bullish or bearish. I am long on JNUG Calls currently. This could be a very interesting short term play bullish or bearish.
Don't forget to smash the like and follow button if you feel it deserves it.
Trading idea: For those who have a longer term time horizon
Buy on the break out of the resistance line of both patterns or go short once key supports are broken.
200 DMA:
Gold is trending above which is very bullish
Bitcoin needs to retrace above for the trend to officially change. ...
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