In March gold had two PV targets 1198 and 1304.
Once new month started it went down straight to 1198 deleting it from sight.
( I did not expect it to do it anyway, just stating it after deeper analysis )
I do think it can tag 1304xx during March, that would be normal based on behavior and pivotal sentiments.
Are we reaching 1247? Yes 1247 is what I feel safe...
Just an informative chart for followers.
Some were asking why there was no spike downwards like normaly it should be, and why there is yet to be any pullback / correction.
Because too heavy shorts were in the gold and too heavy longs in dollar.
Checked with one of Bankers that I know who is working with largest banks in the world ( not saying the source ),...
As long as 1223 holds intraday gold is ready for 1240-1247.
If not then a correction to 1214. Keep in mind if 1223 is broken downward by 1$ then gold is to reach 1214, if not today then Monday, but 1214 become target anyway.
So watch for up move anywhere above 1223 or break it and go down.
Sick and tired of awaiting this day.
Gold is just not moving.
Finally the FOMC day is ON, and finally gold can reach 1247, the bullish accumulation sign it left.
And maybe higher.
Thanks God this will be over and afterwards normal gold movement daily in play.
Take care bro's
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...
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...
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...
Last week did not end up so productive for me, because I was very mixed with latest analysis.
At one hand in whatsapp group I warned people about bullish accumulation as well make a chart pointing out 3 targets I had on radar, that gold successfuly reach:
But somehow I missed the train myself because of some mistakes, and got beaten up by gold, in fight sports...
