If the triangle breaks below 1400, expect a decline to 1350-1320.
1350-1320 is a zone of high demand, where you need to look for buy orders (market or limit).
Risk below the demand zone.
Next positional area at the bend of the previous trend (1300-1270).
Short orders only on the false breakdown of a triangle.
Everyone wants to sell, and I want to buy.
I believe the recent upside price move in Gold is the start of a very large PARABOLIC price move that will eventually see Gold well above $3000/oz.
Pay attention to my research.
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...
as the store of value of governments nations acting as underlying driver of ones economy.
this rock is being marked up as supply has already been accumulated in the last 3 years since GREXIT
and the next looming bubble that of Europe coupled with partisan politics... a flight to safety is the
natural instinct of fund managers to resort to good old HEDGE which is GOLD.
I am looking for Gold to push higher to 1500.00 price point for target 1 and eventually retest the highs around 1900.00 I believe the corrective structure is coming to an end and a big Bullish wave is in front of us.
Cup & Handle is Developing and is about to get confirmed.
The Top Right Peak is 1441
The Low of the Cup is 1384.7
If 1441-1384.7 = 56.3 Points.
To Calculate the Handle, Max Drop is 56.4 / 2 = 28.2
1441 - 28.2 = 1412.7.
In which, It did hit that number then bounced back up.
Breakout Level is usually Breakout Level ( 1441 ) + The Cup's Point Range ( 56.4...
If the price stops below 1429, I’ll open a short against the trend.
Need consolidation below the level for 6-8 hours to open short.
All long scenarios are relevant.
It is possible that there is first impulse and corrective decline to it in place. That's why under the basic scenario the current rise is considered to be (i). In case there will be clear three waved decline that would make (ii) wave. This situation will present a set up for long. It will be great to see RSX down , and confirmation from RSX with turn up.
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GC1!
