MidasTouchConsulting

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About me Midas Touch Consulting is an independent precious metals & Bitcoin analyst, trader & investor. We publish a bi-weekly in depth gold & bitcoin analysis...
Joined Germany FlorianGrummes
Markets Allocation
41 % cryptocurrency 6 % stocks 53 % other
Top Mentioned Symbols
XAUUSD 50% | 16 BITSTAMP:BTCUSD 31% | 10 BITFINEX:BTCUSD 6% | 2 UEC 3% | 1
MidasTouchConsulting MidasTouchConsulting XAGUSD, D, Long ,
XAGUSD: A bounce in silver is coming !
135 0 5
XAGUSD, D Long
A bounce in silver is coming !

After 10 days down Silver is very oversold here while gold can still hold above 1260 USD. Get ready for a bounce towards the 50MA/200MA around 18.00 USD. After a bounce the consolidation could continue until the summer.

XAUUSD: Gold - The big picture
179 0 6
XAUUSD, W
Gold - The big picture

Scenario 1: Breakout above 1,265 USD and bull run towards 1,300 USD. Then consolidation between 200 MA and 1,300 USD Scenario 2: Consolidation around the 200MA until early summer. Then breakout. Scenario 3: Another deep pullback within the triangle. Breakout above 1,265 USD later in the summer.

MidasTouchConsulting MidasTouchConsulting XAUUSD, W, Long ,
XAUUSD: Gold - Bounce towards $1,275 is next
387 0 9
XAUUSD, W Long
Gold - Bounce towards $1,275 is next

Once again I am looking at the weekly chart for gold which is oversold and close to very strong support around $1,190 - $1,210. Of course the price action during the last 18 weeks has been disappointing but there is still a good chance that this is the typical deep retracement after the first up-leg in this new bull-market. In the next step gold needs to break the ...

BTCUSD: Bitcoin - Another ascending triangle ?
677 4 14
BTCUSD, W
Bitcoin - Another ascending triangle ?

Bitcoin has been pushing higher reaching overhead resistance between $775 and $740... Note how the Bollinger Bands are starting to move sideways! If this is another ascending triangle we should soon see a pullback towards $625/$590! That of course would be another buying opportunity... Only a breakout above $775 would be extremely bullish. In that case a spike ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, W, Long ,
XAUUSD: Gold - Weekly stochastic extremely oversold
370 3 12
XAUUSD, W Long
Gold - Weekly stochastic extremely oversold

When in doubt take a look at the bigger picture! So far gold has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence. Looking at the slow stochastic it is extremely oversold and ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin - gaining steam
279 0 2
BTCUSD, D Long
Bitcoin - gaining steam

Bitcoin is gaining steam and getting ahead of itself a bit here. Second day outside the Bollinger Band makes it soon vulnerable to some profit taking around $700..

MidasTouchConsulting MidasTouchConsulting UEC, D, Long ,
UEC: Uranium Energy - bear trap and reversal
43 0 4
UEC, D Long
Uranium Energy - bear trap and reversal

In contrast to most of the other uranium stocks UEC has been holding up pretty well over the last 18 months. In mid of May the stock shot up 111% from 0.69USD to 1.46 USD within 12 trading days. In the following three and a half months the stock as been consolidating this sharp move within a large triangle.  On the last day in september UEC broke down from this ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, W, Short ,
XAUUSD: Gold - A potential bearish scenario
346 11 11
XAUUSD, W Short
Gold - A potential bearish scenario

"Bottoms in the investment world don´t end with four-year lows; they end with 10- or 15-year lows." - Jim Rogers "The one who wants to protect his fortune doesn´t believe in anything but plans for everything." - Amschel Mayer Rothschild Although its way too early for confirmation I thought it´s time to lay out a theoretical bearish scenario to make sure we are ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - The obvious bullish scenario
165 0 6
XAUUSD, D Long
Gold - The obvious bullish scenario

Due to the liquidation wave in the COMEX future paper market the gold price is down more than $135 (-9.8%) from its recent high in early July. This is a healthy and necessary pullback which offers the chance to buy the dip. The price target of the multi-month descending triangle pattern has already been reached at $,1240. Basically gold has just corrected back to ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin - Bullish embedded stochastic!
402 0 8
BTCUSD, D Long
Bitcoin - Bullish embedded stochastic!

Since the flash crash in early august bitcoin has been slowly but steadily recovering. Yesterday the price quickly exploded higher and bitcoin has regained a rather important uptrend line. Despite the fact that there a some overbought tendencies we have the most bullish development of all: The slow stochastic oscillator is now bullish embedded and should push ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold still in consolidation
324 6 4
XAUUSD, D Long
Gold still in consolidation

Multi-month agonizing sideways consolidation in FX_IDC:XAUUSD continues. Main scenario: Gold can hold above $1,300 and will soon start the next leg up towards $1,415 - $1,430. Worst case scenario: Gold is breaking the trend-line and corrects towards $1,262 - $1,295. That would be a great buying opportunity. Only below $1,255 new bull market gets into serious ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin still in bullish consolidation
129 0 3
BTCUSD, D Long
Bitcoin still in bullish consolidation

The consolidation since early august continues. BITSTAMP:BTCUSD Only a move below the rising green trend-line around $545 would indicate that something is wrong with the bull thesis. But as long as Bitcoin is holding above its 50MA ($592) and especially above its 200EMA ($553) a rally towards the next resistance level around $635 should be just a question of ...

MidasTouchConsulting MidasTouchConsulting XAUUSD, M, Long ,
XAUUSD: Gold - Consolidation since early July about to end
256 2 7
XAUUSD, M Long
Gold - Consolidation since early July about to end

Gold has been consolidating over the last two and a half months. It did everything to confuse everybody. But besides all this short-term noise there has been a very important and extremely bullish development. The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Short ,
BTCUSD: Bitcoin - Bollinger Band Squeeze - A pullback is coming
294 0 3
BTCUSD, D Short
Bitcoin - Bollinger Band Squeeze - A pullback is coming

Bitcoin has been moving sideways for the last three weeks. With the low volatility this has led to a very narrow Bollinger Band. Today Bitcoin is breaking down from this bottleneck. Not a good sign, which is typically followed by a strong move in this direction. The first target is the uptrendline around $595 - $600. Worst case will be a pullback down to the ...

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin is on the way to $800 and $1,000.
513 0 5
BTCUSD, D Long
Bitcoin is on the way to $800 and $1,000.

Bitcoin has been running far into the apex of its potential triangle pattern. Usually this means the pattern is either not happening or the move out of it will only be very shallow. Overall the consolidation does not change the big picture. Bitcoin is on the way to $800 and $1,000. Let your winning run and keep your stop at $465

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - Buy the next dip between $1,262 - $1,295.
191 0 4
XAUUSD, D Long
Gold - Buy the next dip between $1,262 - $1,295.

A pullback in Gold FX:XAUUSD has been confirmed last week. Target should be the rising 50-MA ($1,282) or the uptrend line (currently $1,250). In any case buy the next dip between $1,262 - $1,295.

MidasTouchConsulting MidasTouchConsulting BTCUSD, D, Long ,
BTCUSD: Bitcoin is on the way to $800 and $1,000
385 0 1
BTCUSD, D Long
Bitcoin is on the way to $800 and $1,000

Besides any short-term consolidation within this triangle, QUANDL:BITFINEX/BTCUSD Bitcoin is on the way to $800 and $1,000. Let your winning run and move your stop to $465

MidasTouchConsulting MidasTouchConsulting XAUUSD, D, Long ,
XAUUSD: Gold - A strong Monday and the rally continues towards $1,415
125 0 1
XAUUSD, D Long
Gold - A strong Monday and the rally continues towards $1,415

A strong Monday and gold should move directly towards $1,415 within the next two weeks. Otherwise we should get a pullback. In any case wait to buy the next dip between $1,262 - $1,295.

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