TLDR:
This isn't a move or a tradingview idea for short term day traders. Last time gold was under the value area that condition lasted 6 years before a decade long parabolic move began. I think that we will be, relatively shortly, beneath the lower value area and accumulation will be broadly between $650 and $1,000.
Main Idea
Trend lines and horizontal...
with the whole ww3 memes on social media this whole general killing and missile strikes clearly made gold do a blow off top
i believe this move on gold was exaggerated which can lead to heavy selling since trump decided to de escalate tensions with iran
1525 would be an ideal target if 1540 breaks.
The bear flag did not have much follow through and was stopped out. Shortly after the short position was closed, a long position was initiated for a reversal trade.
- After having a good run in 2019, seems like Gold's momentum is continuing in 2020
- Iran and US tension had cause Gold price to spike but quickly came back down
But is it really OVER !?
From technical analysis point of view:-
- Gold is having a healthy pullback apart from the spike during the start of the week
- 0.618 Fib level should be a good support area
-...
Here is my long-term prediction/wave-count for gold. Gold will spike at the same time as bonds, this will bring in possibly hyperinflation at which point the currency will be reset or a new currency forms and we go back to a gold standard.
I have been worried about this uptrend for a while and now I have a nice intra-week candle close to look at. The three day candle conculuded on COMEX and traders painted the highest 3 day volume on Gold of all time and the candle appears to be showing a strong reversal at 1600. The volume suggest to me that they are no buyers at that level to sustain a continued...
After a huge run up due to the Middle East bombing from Iran, a dramatic reversal presented a potential bear flag trade on gold for the near term. Here are the possible entry, exit and profit target zones for this bear flag.
Gold is my favorite market in terms of showing respect to true market geometry. Futures on gold can consolidate months, but when proper breakout occur trend born from it have really strong inertia. Now I will allow yellow metal for some breath and gathering force for relase it to upper boundaries of channel. kind regards Kurgan
The target for the bull flag break on gold is in the region of 1690-1700, but you can also expect an overshoot or undershoot. Precious metals can be very volatile in risk off markets. I currently have a position in Newgold ETF.
Gold remains in a strong uptrend and has remained supported even though there is no further movement in the Middle East after Iran's retaliation.
Reflation? Usd weakness? Whatever it is, buy Gold on dips.
Subscribers were alerted to yesterday's buying opportunity. Today simply manage open positions.
The chart we made today shows the price of gold as a Baseline chart. The Baseline chart shows price movements relative to a baseline that you choose anywhere from 0% (the lowest point) to 100% (the highest point).
This chart shows gold since the last 1970s with a Baseline of 50%.
Why is this interesting? The chart can show you if an asset is above or below a...
A new top will likely happen on the upper edge (blue band) of the pitchfork, followed by consolidation.
Global fiat currency debasement, combined with geopolitical risk and global economic slowdown; make Gold an attractive hedge.
