Potential short for a pullback on gold. Previous structure resistance might act as support in confluence with the .382 retracement (price target 1) for bullish continuation.
RSI with EMA Signal Created By Request For @motcha1
@motcha1 Requested the RSI with EMA Signal.
A Larry Williams Follower who says it's a Great
Entry Signal when RSI Crosses EMA When VIX
Is Showing A Potential Bottom. Looks Good!!!
***Waiting For The RSI To Cross The EMA I’ve Found To Be A Very Precise Entry Without Getting In Too Early. Thanks ...
Gold in very well-defined down channel, facing heavy resistance.
Previous bubble retraced 67%, before finally bottoming at -70% loss. Currently correction has reached -45%, that's obviously not enough if 2011 was top of the bubble.
Been doing all evening and half way into the night so will fill this out with details and sources/references tomorrow, but wanted to publish so I can send link to friends.... Stay Tuned.
(If you see mistakes - Even Spelling, please comment)
2018/09/11 It seems that MM are getting into shorts heavily, while still at their maximum in terms of total contracts.
So they are not exactly exiting gold for better opportunities. But they are a fast reacting category, so I see this as an opportunistic position of them, that might change rapidly. To watch
Continue our discussion on Gold/GC/GD since Sept.
We just had this significant testing happened. I take it very significant.
WHY
Vol dropping on a common concurrence of market plunge
It bounced at the strongest volume profile peak, and broke through the 2nd strongest peak
Expecting to see
1/ a few weeks of consolidation, likely to a daily convergence, then ...
A dismal year for gold bugs, but one which perhaps is going to end on a more positive note based on the weekly chart, which has seen a classic accumulation phase develop for the precious metal. Note in particular the initial stopping volume of w/c 13 August, with further sustained buying through to 8th October.
Last week's price action was seminal, with gold ...
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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COMEX:GC1!
