Caught in the twin grip of elevated US yields and a stronger USD, Gold may be on the defensive over the near term unless geopolitical risks still escalate. Escalating geopolitical and trade risks are playing an increasingly supportive role in Gold prices, engineering rallies that are likely to stay high in 2024. Gold Price Clinging to Highs Under $2'000. The...
I will be expecting gold to be bearish the rest of the year,i will update you monthly about it
Bouncing off the top of the LuxAlgo Retail is buying for fear of the current economic uncertainty, so it's a good time for whales to squeeze the longs (and create even more uncertainty/FUD, to be exploited later) JP Morgan has a huge short position Multiple indicators are all pointing to an oscillation reversal (e.g., MACD about to cross down, RSI about...
Whichever scenario plays out I'll be in sniper mode ready to take the shot when those highs get taken out. Haven't decided if I want to short sell, put option or both.
Idea: Retest of 34.66 level. Change of local falling trend SL: 34.57 Buy: 34.79
This is a really simple trade. Here is a weekly candle chart showing nothing but weakness. Gold failed to breakout on any time frame. Now, it is threatening two plus year support. If the support breaks, and only if it breaks, take the short side of the ledger. Ticker: $IAU iShares Gold Trust.
It is an example of falling wedge on ETFs. This exercise is useful to learn about the charts! Practice is everything!
A general chart showing the various probability movements on IAU.
IAU looking tempted make a run this year. 1st - Probability Convergence Curve Moving towards upper convergence. 2nd - Volume Curve Near highs. The inverse correlation of this and the Derivative curve is a bullish sign. 3nd - Derivative Curve Close to flipping up. Notice the shorter timeframes are trending higher ahead of it. 4th - Volatility Curve Poised to...
Listen this boomer AF trade looks like it might finally go, monthly pennant, all gold charts are setup for this right now. plenty names. big and small. Check out XME monthly chart. Bullflag breakout. GDX/GLD. Pull up the yearly chart on gold tickers. 3bar up. Buying few months time / commons on this should be okay. Slow mover. Set it & forget it, semi - liberal stops
Weekly bars here. Pretty perfect triangle if Ive ever seen one. Watch for a breakout either way very soon, as these normally only make it to like the 80% point of the triangle before going through one of the two trend lines.
I am using the IAU ETF as my trading instrument to represent the Gold spot market. Looking at the Fibonacci retracement starting from the 2016 low of $20.44 and extending to the August 2020 high of $39.14, we see that the top two retracement levels are in play. The 38.2% level tends to be the most common for handy support and resistance levels. We saw price...
Gold has been working very well with Fibonacci retracements following the bullish trend starting in 2016
We didn't expect this type of move on IAU (we expected a return to 21 really) but welcome now we can almost retire. Still searching for news if anyone has any on IAU it would be welcome.
I like IAU paper shares. Set an alert and wait! I never set bids! I want NO ONE to know where I am sitting!