DraperFischerJurvetson

DraperFischerJurvetson

Gold is making a downtrend from the overbought area on weekly. As a swing trade, Gold is on a downtrend which we might see a strong pressure for sell offs till the end of the year 2020

DraperFischerJurvetson

Gold is indicating a longer term ABCD pattern, in the short run might retrace back to 1,710 before moving up to 1,825 - 1835 range before falling back to 1,620 as a Fib level retrace prior to continuation upward

DraperFischerJurvetson

Take care of trading XAGUSD, as it is used for manipulation and liquidation of accounts

DraperFischerJurvetson

Explained on the chart

DraperFischerJurvetson

Todays Bullish Target for gold is 1,748

DraperFischerJurvetson

Explained on the Chart

DraperFischerJurvetson

Gold is marked down on Friday, and with absence of catalysts, and with economic and political improvement between US and China, gold will continue downward, the targets on the chart is self explanatory

DraperFischerJurvetson

Gold has broken the ascending channel, and currently retraced from the bottom of the day, and I expect gold to make a new low next week. The first target is around 1,640

DraperFischerJurvetson Updated 

Watch the structure, and trade when the structure is broken to the downside. The upside is highly likely but still one must take a pre caution.

DraperFischerJurvetson Updated 

As a big picture, gold has undergone a major rising wedge, and completion of all the 5 waves in the ascending channel. with completion of final Fib retracement. And with the absent of Catalyst, gold is poised to crack. Becareful on gold longs. If this Rising Wedge Breaks which is highly likely, it will be a major break and downside would be significant.

DraperFischerJurvetson

Its something to consider in the background, and not to be taken a serious Trading Plan... But who knows

DraperFischerJurvetson

The Chart is self explanatory... BTC has topped out... currently way above all the MAs, mostly likely a big correction is on its way...

DraperFischerJurvetson

Gold initially came from 1,763, went down to 1,695 and did a retracement from the bottom. Therefore, currently its a retrace from the bottom which tested 1,735 exactly at the Fib level of 61% retracement and its not an indication of up trend at all. I believe that gold did a retracement up to the Fib level and then will head right back down. Immediate target for...

DraperFischerJurvetson

Silver is showing as a heavily overbought situation deviating away from all the MAs, in such situation, an immediate correction downward is expected towards 17.25 early next week supported by MA55, a break of that then the next support level is 16.55 which is MA 100. Those levels if could not sustain then we will be looking below 16.0 at 15.8 which is MA 200....

DraperFischerJurvetson

Initially, gold broke the MA 200 with a strong move downward, later picked up to retest at 1,735 level as expected near MA 55 which was then not able to break upward. Finishing with a 4H bearish candle between MA55 and MA100. Another attempt will be done to break the MA 200 early next week, which is more likely to set as a continuation to downward. This is also...

DraperFischerJurvetson

Based on three MAs, 200,100, and 55 When those three come together in a narrow range, its time to set a new direction for gold. And when the 55 and 100 meet at the top, there could be initially a drop and then when the support of MA 200 breaks, it goes deep downward move. So, I am expecting Gold to break the MA 200 early next week, as the market tone at the close...

DraperFischerJurvetson Updated 

Extension to my Gold Intra Day Scalp

DraperFischerJurvetson Updated 

Gold today rejected the downward by respecting the 1,704 area, as the weekly support at 1,703 was respected. I see a long opportunity rising, and 1,720 is on the cards.