Not nearly perfect but hopefully can service S/R from another angle. BTW, silver demonstrated good resilience in this tumultuous week and not down by too much, which is really a bullish sign IMO. If you do performance comparison between silver and the Tech stocks, not many better performers out there. Have a nice weekend everyone.
When you are looking at multiple screens it is hard to not miss out some very important structures. So elusive and ephemeral..wish I could have spotted this easy trade opportunity. someone chime in to shed some lights on how to not miss this kind of patterns? I don't currently have a way to alert myself of divergence.
we should be able to see a bounce off of this line here.
I think this is a very constructive chart. It looks like a clean break from a year-long channel and now consolidating into a well-defined bull flag.
Both 1 hour and 2 hour stochastic show bearish divergence, with overarching 200 Hull EMA being resistance on the 3 and 4 hour charts. So the short term trend is a little bit tilted toward south. Ichimoku Kijun line is showing some support, however. Pitchfork bottom line has been the resistance as well.
Gold has been trading in a channel for a while and soon it should breakout. Because we are in a bullish trend, I favour more of the upside continuation to the upside as opposite to being a bear, even though like possible. Make sure you have a sound trading plan if you are taking this one. Comment what you think about gold and share your charts. PM me if you got...
As silver approached the target-box, the market showed a strong reaction and immediately turned lower. However, we still have no confirmation that the bears will succeed in pushing down the market towards $22. To confirm this move in wave (iv) in blue, we want to see the metal below $25.78 in the next step. In the long term, silver remains oriented towards...
XauUsd is correcting. That support zone is ~35% correction.
PRELUDE NOTES: Bitcoin is currently $10,100 , and as of currently 9/8/2020 ... Most of the crypto and investment universe thinks Bitcoin is going to drop hard before it climbs up. That this $10,000 area won't hold. I was one of them. Everybody is calling for $9k or $8k and will completely miss their entry if they don't enter here within the next few days (maybe...
I think we hit the $1,870 range before moving up for a meaningful move.
Massive volume coming causing a technical breakout. Currently consolidating at support. I hope you are long metals and mining. Should have been a core portfolio position for awhile now.
Big volume coming into the mining sector thanks to Buffett and Sprott kicking off the buying spree
Gold has had a great run, however i believe that we may very well see a slight easing before continuing higher, firstly let's look at some charts. Gold is below the daily 21 ema - This means that so long as we remain below this level, near-term the bears are in control. Gold has retraced to the weekly 10 ema - This is healthy within a strong bull market, to...
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 always look for rounding bottoms. Gold is consolidating here, but I think the miners will continue to catch a bid, especially the microcaps.
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...
Gold, Gold, Gold......! Well, we made it to Thursday - Finally got that dollar strength..! Hold steady we have NFP tomorrow - This could make or break the beautiful gold dust, not sure if you've heard the song but great motivation. However, back to technical and fundamentals of gold (XAU/USD) Key trend-line up from the daily as well connects nicely, we could...
Long consolidation and several false breakouts, but in the end trend remains intact in OANDA:XAUUSD , as it is now trying to push to new ATH. Unless ~1900$ is broken upside scenarios should be favored for now.