Gold prices have been on the decline recently, influenced by several key factors:
1. **Correction from Highs**: Gold had reached a record high last week, trading at $2,413.80 per ounce. Such spikes are often followed by corrections, as seen with the current downward movement.
2. *Rising Dollar and Treasury Yields**: The U.S. dollar and Treasury yields have both...
I posted this chart in march on a bull flag that was starting to form with a projection to the dashed green. This is a great example of a longer term setup that rewards the patient. Of then these flags or wedges like to break out on strong volume and then dump for a retest, only to continue to project towards the target. If you had entered 6month to one year out...
GOLD has completed it's upward move. Though Analysts say that it will go up further. It's time to be contrarian as Analysts also manipulate the market for their HNI clients. here might be a small move up but more explosive move is going to be downwards.
It's common for some traders to see things in black and white, worrying too much about the outcome of each individual trade and giving excessive importance to winning or losing on every try. This perspective is pernicious because it overlooks the inherent uncertainty in the process, which often leads to unnecessary emotional burden and is almost always detrimental...
Understanding Probability in Trading
Probability is a fundamental tool in assessing the success of a trading system and making informed decisions. In simple terms, probability tells us how often we can expect a system to succeed relative to the total number of trades executed.
Imagine you have a trading system with specific rules that are repeated over and over...
The Uncertainty and Probability in Trading
In a world where uncertainty reigns and the future is always unknown, trading becomes a realm where probability plays a crucial role. Throughout history, no one has been able to predict the future of financial markets with complete accuracy. This uncertainty is inseparable from trading, as we can never fully anticipate...
Hi guys, if you follow daily the market here there is not a strange situation.
Many guru claim that we're on the verge on something big, obviously I don't know but this movement was so called.
When you find a pattern you don't have to act but react.
If you are wrong positioned, you can close and change position, it's so easy.
I was bearish 2yrs ago (if I well...
Gold is showing a classic long-term cup and handle period. Spent about 7 years in the "cup" (long shakeout period from the bubble that had formed after the last financial crisis followed by an eventual rally to previous all-time high). It has spent over 2 years now in the "handle" (period of consolidation giving the appearance that price can't break through the...
I think GLD is being distributed and I am not convinced with the break out. This is a classic Wyckoff distribution pattern. Everyone is now talking about the GLD break out which is the perfect time to distribute. It will go up a bit but it will soon come crashing down.
Not investment advice, please do your DD
Please boost and follow.
Explore the latest update on GLD Gold, featuring insights into our bullish outlook for the intermediate to long term, alongside expectations of short-term corrections. GOLD GLD Proxy Potential $192-$197 retracement then rise! Learn more about potential price levels and strategies by checking out CandlestickNinjaTV on YT!
I do dowsing and have foregone technicals, so all my levels and timing is from this method.
Last Friday when I asked about the next "big money" opportunity (which is a new question for my work), it went to gold. The last time I asked this question, the answer was for NVDA, which then rallied 200 pts. So at least this question, so far, is 1/1.
Dowsing continues...
Everyone has been bullish gold here, but the idea never made sense to me. We're still in the beginning of a market downturn, and if S&P and QQQ go down, gold is going to go down too.
Now the chart is also confirming my thoughts. We just went up and retested previous support as resistance and now we look to be forming a lower high on lower timeframes.
This looks...
10 days over the 2 day MA of lows. 5:1 very rare. Well tomorrow's number should certainly allow us an opportunity for a crash endo. I'd be short right here but certainly upon breaking that containment MA.
Gold (GLD) hits the $200 target but may experience a temporary stall around $191-$195 before completing its bullish head and shoulder pattern. Stay tuned for insights into this pivotal market moment!
It's been a good run and there may be more BUT with 9 days over the 2 day MA of lows, it's time for a break. Tomorrow and/or Friday's numbers should be a punch to the gut that brings it back to reality. From there on to new ATHs? Maybe.
