Hey traders,
Yet again, the OFA script clearly show we should not be meddling with the affairs of the bears, side fully in control of the price action in the Gold market.
Let the flows, identified via the formation of fractal-based structures, determine the path of least resistance. As usual, credit where is due (Bill Williams). The script simply makes it...
Programmers are artisans—not scientists. Our code must work, yet good code is not only tested and functional; it is a pleasure to read. Good code is that which others can learn from and enjoy the most. It is beautiful. It oozes the care that went into each line, leaving only those with unassailable purpose. Good code is whole; lines cannot be removed without...
Watch out for $GLD; Very high probability of this going outside month which gives a target of 160-161$, Also about to go 2-1-3U on the 2W 🟢 . Dec. 160C's are beautifu
In my honest opinion Gold will head much much higher in the next decade, and the double top at 2070 is bound to break. In the short term it also looks fairly bullish as it has reclaimed several key support levels, along with the 200-400 DMAs and the diagonal trendline. Getting up to 1900-1920 over the next few days or weeks definitely seems possible.
However in...
Hello Golden heart people
Sorry I am not bringing a good news for GOLD/GLD. The chart pattern seems to be replicating itself from 2011 - 2015. Description in the chart should be self explanatory, here are few points to make it clear.
This is a monthly chart, so please do not hold me for the daily bounce. I am taking this opportunity to short at the better...
AMEX:GLD
GLD looking to test previous multiple tested S/R line from earlier this year. On the 4h MACD is threatening a negative roll over and the RSI is extended into overbought land since last Wednesday. On the 1D, MACD is much like the price over the past week and is almost vertical while the 1D RSI is breaking into overbought. Price is ~4% extended from...
Gold sometimes has seasonal bottoms in the Noverber to December time zone.
There's also a 20 - month cycle that could bottom in November 2022.
Gold could trend down to the .618 retracement of the bull move that began in 2016.
If Gold can reach that price zone in November 2022, a major bottom could form.
based on weekly chart, we saw a break and retest of a support at level 1700.38 dollars, these means that we are on the sell side market and our target is at 1500.89 us dollars
After the hard work of finishing wave iv in magenta, we expect GLD to play a bit in the yellow sandbox between $150.72 and $140.40, all the while completing wave (4) in yellow. Then, it should get down to business again – or rather get up to business, as we expect GLD to climb northwards, crossing the resistance at $171.23. There is a 35% chance, though, that GLD...
Disclaimer - These are not MINE. Replicating the work of Mike (Figuring out money)
#Buy Signal
#4 Week ROC crosses up through 0.
#Place Buy Stop Order above that Weekly Candles high
#- If price action does not reach entry point by the time the ROC crosses back down through 0,
buy #Signal is deactivated & we wait for the next buy signal.
#Sell Signal
#4 Week ROC...
GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching...
Positive price divergence with MACD and RSI indicators. Playing long to the upside of the falling wedge channel, roughly coinciding with the 50-day MA.
NYSE Arca
