for almost two weeks we have been on a bearish trend with gold with the low from last Friday at 1195. ever since then we have been making higher lows as well as lower highs but it looks to be setting up for a bullish reversal and break out which will occur today. this doesn't mean it can't go bearish which it could still continue but I'm looking for a break above...
Wasup, do we still look up?
Yes, nothing have changed on my radar.
What was the red area in your last chart indicating?
Red zone is a zone where I was adding buys ( pyramid principle ), and daily close below this red area is where I start to hedge.
Since we did not have daily close below it I did not hedge because I don't need to.
My entries...
Firstly - please excuse the quite busy/crowded chart here - usually my charts are a lot cleaner.
Anyway, as you can see from my last idea on Gold, we are quite possibly nearing the end of it's recent bullish run.
Momentum seems to be slowing down, we have reacted quite nicely from the 61% Fibonacci retracement and broken a reasonably long term...
Guys....
As with every $20 rise in price, gold bugs start to throw our the 50k figure... simply not going to happen. Also to add clarity, gold is not a hedge against inflation, rather a hedge against governments.
The last idea I posted (see attached), showed this run to the 1250 area before continuing the decline, now it's important to understand that February...
Gold managed to hold advance toward 1249.60, 38.2% level from November 2015 lows, to highs in March 2016.
Market now faces resistance at 1197 and 1206, as long as we hold below this zone another drop wave will be expected toward 1172.06.
Above 1206 more advance may hit market toward 1249-1250 zone. 1249.60-1250 will be treated as resistance for the coming...
Bullish Candle Count now matches bearish.
It is time to buy gold:
SL 1193.00
TP1 1250.00
When Target is reached we will take half position off and run Gold long for extended targets if analysis suggest.
VLTRA
Pivotal Sentiment finaly come below close price.
It may be that sentiment change.
If you enter the trade here STOP is suggested 1203.
On my table all latest trades run without SL.
Target 1248 - 1258 - 1266 ( same targets discussed before )
If today is turnaround day then Bull go after these targets.
Heading out till Friday so not much broadcasting and updating possible from me.
So making this idea before I do my stuff.
I have done 4 buys
1224.xx
1221.xx
1220.xx
and now 1214.xx come that we were looking at.
All these buys are done with great risk management and I can survive hell of a drawdown if needed.
But I do think it should start the frequency tag and...
When this idea complete the target ( if complete )
And you book your 16ish $$$, this is what I am looking at next.
If gold lands on 1220 I expect a bounce up to 1225 at least.
1220 is very sensitive level on my radar, below it 1208 is what I am looking at.
If it holds then we could start the up move and reach our friends 1237 and 1247.
Let's see.
If Gold...
Follow up:
Baby bull is not gone, it is accumulating. Recalculations show upside sentiment.
It usually comes unexpected.
Since central banks and big players follow me on Tradingview, we drive this up together. They follow smart ones.
We are long from white zone ( on chart )
Red zone represent a bullish problem zone - intraday, but since gold should met 1247...
Similar post:
We have the same going on again.
Pip difference between dollar resistance and gold support is widening.
That means bullish accumulation on gold.
Let it gain momentum for now.
P.S this trade will be done without SL and I let it run me in draw down if it wants to.
On this chart 1248 was intraday target that is reached.
Next 3 are not.
In this idea it is a follow up so we know is gold about to reach next 3 as well.
Basically if gold opens and first move is up and touch 1249.5 - 1250 then I think it retrace to 1245.
If gold is a bull then it is sensitive that it does not break 1245 level and retrace up from there.
If gold...
