Gold closed up 3.1 points on Tuesday but that was basically a move sideways. There was some volatility in the morning when Fed Chairwoman Janet Yellen began her testominy. But while the DXY dollar index had a strong move up, Gold stayed basically flat. However, it is clear on the chart that Gold is still trading under the 6 and 8 day moving average so my bias is...
Just trying to count long term move in gold. Let see .
Since our macro bull call following a Fed rate hike, #gold is up 8.6 percent. Since our #TrendFlex alert on 1/13, XAUUSD up 2.55 percent. Gold finished strong last week as price action climbed higher and narrowly missing our R2 level of $1,248 – achieving a weekly high of $1,246.6. Despite the strong sentiment around global equities (primarily fueled by retail...
Still an overall healthy uptrend as dips find buyers. 1245 double top could be the upside near term target. Downside move should find buyers 1212-1210.
Gold dropped 8.1 points on the day to close below the 8 day moving average. As the dollar rose, gold sold off and finally cracked the 8 day ma. It also closed below the forward adjusted closing price line represented as the cyan line. There is now a high probability that gold will touch the 20 day moving average which is the midpoint of the Bollinger Bands. The...
Gold under some pressure from the double top at 1248. Price rejection at 1238 reaffirms. Look to find some buyers though a bit lower.
Gold rose for the second week in a row, ending the week at 1234.7, up 12.8 points for the week. However, after reaching a high of 1246.6 on Wednesday, Gold fell on Thursday and Friday, touching but not breaking through the 8 day moving average. So where does the precious metal go this week? Let's take a look at some of the technical indicators that I use. Gold...
Having traded CL, GC, USDJPY I recognized similar movements into zones, I now wonder if they correlate in any way Price Pattern Trader - TradeEmpowered Analyzing the high timeframes 240min, 60min, 12range and executing in a trading timeframe 233Tick.
Double top just shy of 1250 target. Every break eventually gets bought. Look for extremes and follow the leader.
I'm watching a possible cypher pattern. Enter at 1222.7 with SL at 1215.8.
Thursday started off promising with Gold hovering around the 1242 level. But then the dollar DXY broke out above the midpoint of the BB and Gold fell, closing the day below the 6 day moving average. At it's low, it touched the 8 day moving average were I am sure many people had their stops. As the Friday session begins in Asia, Gold continues to fall....
Would have liked to see a 1250 print, but maybe 1246 is close enough? 1248 is old support (now resistance), but I'm still viewing a selloff as a buying opp. The lower boundary area of the channel is still worth a shot for a long.
Gold continued to move higher today, closing at 1243.1, a gain of 7.9 points for the precious metal. The US Dollar Index $DXY fell today which helped fuel Gold's rise. As I pointed out yesterday, the dollar had closed under the midpoint on the BollingerBand after having tried to break through that line of resistance and I thought that it would move lower today....
... Probably my favourite market to be long vol. Historically the model tends to signal preceding large price movements.
Uptrend still intact. Currently price finds itself in a triangle, stalled at a minor triple top. Looking to buy dips still as momentum continues to the upside.