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 -- 1-Contract size 2-Floor price 3-Last trading day -- Top 3 Benefits Of Gold -- 1-Hedge against inflation 2-a traditional form of equity 3-alternative investment -- Top 3 Challenges Of Trading Gold Contracts -- 1-margin calls 2-significant losses 3-prices are volatile in the short run -- 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...
Gold Right time to Invest?? Going down to touch 200EMA
Price reached support zone (1900-1920) If break below 1900, may see more downside. However, gold always act as a protection. Wait for price action
Major support @ 1910 / 1900 , close blow this level on closing basic ,showing more weakness in gold
The price of gold is currently experiencing a notable downward trend, aligning with our initial predictions. Anticipating further declines, we foresee the price dropping below the support level of $19 000. This descent could lead to the formation of the low point for the orange wave iii. However, we maintain a 25% probability of a potential upward movement. In an...
I know it's mid-August, but it indeed feels like Ground Hog Day with Precious Metals trapped on a merry-go-round of negativity where stronger economic data in the U.S. reaffirms the Fed's "higher for longer" theme that strengthens the U.S. Dollar and pushes yields higher. Then in the overnight sessions, we get a series of weak Asian data where calls for China to...
Fibonacci extension tool is showing a 1.41 level inside of a 4 hr demand zone. We also have a measured move on the previous down leg. I suggest to watch this level and not just buy it at this level. Let's see if we get a reaction off the level that we can work with and THEN go through our process to take the trade long.
gold is on sell zone area 59500 - 59400 expected target - 55040 - 50180 massive fall expected on gold
pointed out the lower level and lower level and both LH AND HL. So, for now, am waiting to see the market reaction if it will make another shoulder in completion of head and shoulders formation. After so month it should break down and for an entry level we wait for retest towards the LH.
A VERY EASY TO UNDERSTAND #GOLD CHART. IT WILL BE VERY CLEAR WHEN THE NEXT PARADIGM SHIFT BREAKOUT OCCURS. DO NOT FORCE IT. nothing to do until this turns up EPIC breakouts you should seek
Gold Shorts Daily We see more upside in the coming weeks but for now we are on the short side of holding our short entries for lower banded target and price action. September gives good stats for the next direction for GC.
Gold down from crucial resistance and now hovering at support will face heavy volatility during FOMC Minutes Release of July Meet, Keep watch on 1934 Resistance and 1905 Support levels
Inverse Cup and Handle seems to be forming on the daily chart for gold. This does not give safe-haven vibes. Unless it's for a short. If the price breaks below the brim level (support), we could see downside to come for the metal. Other indicators confirm downside. 21>7 We just need the price to break below 200MA and it's all down from here. RSI<50 Target...