Last month there were several claims, and rumors, that BRICS will back its united future currency by gold.
The return of gold as money has been heavily discussed by gold bugs for about the last 10 years. Below I provided their general thoughts:
The gold bugs nailed that China and Russia have significantly boosted their gold reserves.
The countries conduct...
Gold on a monthly level using Wyckoff Re-Distribution.
Target lower buying levels before making ATH rally.
Time line post 2024 for ATH rally heading into 2026 possibly.
8.24.23 In this video I reviewed some aspects of the ES and I also looked at the oil market. most of my discussion Is about reading the price action and projecting where markets can go before they go there. What you need to be careful about Is that this type of analysis Has you think like a scalper... which is okay because it improves your analytic analysis... but...
I have annotated on the chart what my thoughts are.
For more information, please refer to my previous weekly bias post.
Also key notes today:
US durable goods was lower than expected, and generally the data was not good for the dollar. Ignore the short term noise, we can expect gold to see some strength here, however short lived it may be.
You may want to long...
Please refer back to my weekly bias for GOLD.
We are now approaching the two key zones I discussed a few days ago.
Remember, we have Jacksons hole today, which will climax tomorrow with Powell speaking.
I will post some lower timeframe ideas closer to these zones.
If you read her book
"Street Smarts: High Probability Short-term"
this setup we need ADX14 more than30
then we need price retest EMA 20
we monitor "volume"
if price go up with good volume
we entry buy order
I accept the truth of this game that we just betting on probability
this strategy have back-test data backup so if this setup happy 100 time I bet on...
3.5% is a lot in gold, and that's about the range of the total landslide we've been through the entirety of August so far.
It's the kind of pattern where goldbugs and USD collapse narrative nerds go long and go long or hodl and hodl but the price never goes up.
In my last call on gold from the beginning of July, I warned that $2,000 was a death trap. That call...
Early morning breakout trade to return to the NEUTRAL pivot.
This is purely a BREAKOUT trade.
Use smaller lot size as this is early in the day.
Looking for a reset of the price after yesterdays price action.
M Formation has formed on Gold.
However, there is a BIG support with the neckline and the major 200MA.
As long as price stays above, this analysis will e wrong.
So this is a hesitant analysis to present, but one which is showing strong bearish momentum to come based on history rather than present and future.
Price >200 - needs to break below
RSI<50 turn up...
Waiting to go to support trend line.
This are not my exact entries, they are marked for zone that i'm looking for.
For now gold is still looking bearish. Looking for confirmation.
Please let me know your ideas or comment on that.
Top 3 Gold Jargon
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1-Contract size
2-Floor price
3-Last trading day
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Top 3 Benefits Of Gold
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1-Hedge against inflation
2-a traditional form of equity
3-alternative investment
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Top 3 Challenges Of Trading
Gold Contracts
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1-margin calls
2-significant losses
3-prices are volatile in the short run
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Here is what people
in the crowd are saying about...
Gold futures have retraced .618 to 1915.71 from the high on the daily chart, and is attempting a reversal from a daily double bottom. Oversold on the daily RSI(9). It also sits on a key Gann confluence area (the circle) at 1921.50.
Must hold here, or else risk falling lower in a low volume area to 1894.6 (low volume node).
I expect upside in the near future,...
Hello friends, I hope you are having a productive week.
I would like to share my ideas on the Elliott Wave Principle with you.
Please refer to the attached chart for more information. If you are interested, you can also check out my previous analysis.
I want to mention that my understanding of this principle is based on my personal experience and I am still...
Gold upcoming week with ultra volatile event awaiting Powell's Jackson Hole speech we can expect some bounce towards 7DMA and 14DMA Resistance points (check daily chart)
among other 4h observations using our technical analysis
Falling wedge intact with 50SMA being very strong resistance point.
Sell on rise advised as Powell's speech could also...
