Very clean breakout and consolidation above the previous highs, some nice fib extensions around $2300 as a target. Potential support resistance within the broadening wedge.
XAUCAD was overbrought, possible breakdown?
If you follow my work, you know that I am very bullish on Gold (and Silver) and Bitcoin will also initially be doing well. As a student of the markets, history and economics, I approach everything through the lens of classical economics as opposed to mercantile economics, today called Keynesian economics. Classical economics is about hard money and low taxes,...
Loading up - finally getting a bit of a break in the downward structure. Could have a nice move intraday early next week to break out of this week's high. The higher price closes into this week's high the better. Not looking for much a retracement next week before it takes out next week's high OANDA:XAUCAD
Canadians should buy gold. One thing for sure is Dustin True-Dough will continue to destroy the canadian economy with his "carbon tax" until the canadian economy is a shell of it's former self. Welcome to socialism! While most enjoy their own destruction, the only hope the canadian people have is aquiring gold at it's cheap current price. Unfortunatley less than...
short on 123 H4 sell stop: 17.36500 SL : 1749 PT 1652
Just completed a 4h correction. Structurally on Daily we could have WXY. Nice Reward Risk trade setup oppotuninity
Bullish candle broke trendline . There could be a further retest of the trendline before price takes off. Long breakout with bullish candle.
XAUCAD has been moving inside an upward channel since Jun 2013. If you measure in CAD, gold has been in a slow bull market for the past 4 years. Remember in early July 2017, XAUCAD hits channel support and immediately bounced back up. The long term structure still holds. This is almost the same situation as 1 year ago, which was described in my linked trade...
War with NK? Way oversold into trend line resistance.
Hello Traders, Long opportunity under observation XAUCAD, R:R is approx 1 to 1.5+. Your inputs on this analysis are highly appreciated, considering channeling and wxyxz wave concept. Thank you.
XAUCAD has been moving inside an upward channel since Jun 2013. If you measure in CAD, gold has been in a slow bull market for the past 4 years. Prior to this time, the channel support was hit 4 times, in Dec 2013, Dec 2014, Dec 2015, and Dec 2016. (Coincidence?) Now 2 weeks ago in early July 2017, XAUCAD hits channel support again, and immediately bounced back...
From the recent price action and oil rallies, I predict we should see gold ping-pong between support and resistance over the next few weeks.
Looking to buy this market, here's why: - the up trend, - likely support at the potential demand level, - a perfect match of the strong GOLD and the weak CAD, currently the former oversold and the latter overbought.