Instead of calling Gold analysis, I would use the term of trading plan or trading journal to record my trades.
So please note: This is a personal journal only, but NOT a trading suggestion. Please control your own risk if you want to follow, we may have different risk preference and position management strategy.
Wave C is coming late as my...
Tuesday, 1 December 2020
19:19 PM WIB
Crude Oil movement becomes unpredictable and inconsistent. It is very dangerous because the size of the volume in trades can kill my funds. Some minor communities with the huge power of funds take advantage of the unsustainable environment in oil industries. So, stay away from Crude Oil are a good choice right now.
Gold eventually gave way last week after consolidating for the past month. RSI divergence is a very strong and reliable indicator and it is showing on the 4H chart. Due to this, I believe we have bottomed locally and I see us moving higher and retracing some of last weeks move as a result.
In yesterday's comment, I said that "losses should be limited at this point and we can even have a bottom".
All through the day, bears tried to push price lower and under 1865, but couldn't be able to do this.
At this point, Gold is trading at 1785 and 1765 is strong support.
I expect this rally to continue towards 1800 and remains to be seen if this is just a...
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for GOLD, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
This trading idea is based on a trend reversal signal. In the 1H timeframe, the market gives us a double bullish divergence. It is a solid bullish signal.
The price bounced from 1764$ support, and we can expect a further upward movement toward the key resistance levels.
RSI confirmed the price reversal. MACD lines and histogram are supporting the upward...
A nice swing cooking right on time for December seasonality flows to kick in.
This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following...
VIX at the daily view.
The title speaks for itself. Like I said before, VIX is not showing signs of a ramp up or uptrend. There was a bullish RSI divergence, but that takes several days before it actually resolves itself. Right now, liquidity is still high and market breadth increased. So, that means rallies in the ES are much more sustainable. Moreover, imagine...
Asia markets up big on China PMI numbers, MFI isn't moving on the low volume pump so I have no idea which way the EUros will take this.
If the market manages to make new ATHigh, I think we get a melt up until Christmas. Got rejected by the previous high.... so far.
Absolutely no continuity in the market, the Asian dumped hard yesterday, now they're pumping...
GOLD was clearly oversold lately
So the market gave it a pullback
As the short traders were taking profit
While some minor opportunistic longs were opened too
However, gold is now stuck below a falling resistance line
Which used to be a support line
So there is a good chance, that Gold will go down from...
Offer: Buy above the spot 1764.00 with the first check tick 1800.00 and the second check 1818.00
Alternative offer (in case of price trend) When the price falls below 1764.00, the price first starts moving towards 1757.00 and 1747.00.
Support and resistance points
Gold has been consolidating after setting a recent high against the dollar and it is natural we see some consolidation. Price action has seen a slow burn off from the all time high and now is looking at turning previous resistance (from 2011 and 2012) into support.
It is obvious that we have mounted the 50 week simple moving average and we should expect to see...