Very simple. I can see positive momentum growing on MACD, squeeze, RSI, MAs looks good with supports. Breakout of the bullflag.
You can take half if you see somewhat big volume resistance around 6000. Otherwise hold for the target.
NFP just came in with somewhat below the estimated. Im looking at gold to maybe start making a rebound with this news and I'm looking for the yellow targets where fib retracements levels are.
Also, there should be a good amount of support right around 1250level and if it doesnt retrace here I will be very shocked.
With these two arguments I like gold at this...
good fundamentals (probably not a rate increase in september), good momentum/buyers from 2156, pretty simple idea that I think will be a good one. looking for tripple top where I will take most of my position, stoploss 2169 nice risk/reward.
Have a nice weekend.
So NFP came in low and stocks just keep loving low interest rates and there will probably not be an increase of rate in september.
We gained nice buyers from a supportlevel and this with the fundamentals will hopefully send us to test the ATH where I will take most of my position. stop 2169 looking for nice 2.42 r&r
have a nice weekend
NFP came in low causing gold to explode higher, rate hike odds will be lowered and rates will probably not be raised in september, this means the fundamentals is in good favor for gold in the near term future.
the technicals are nice aswell, we got a nice bounce just below .382 on the bigger move and on a nice support level, we got also a nice buy signal where...
the big move since early june seems to have topped of with a truncated 5th, we are now looking for it to pullback a bit and possibly find a "C". We have been consolidating between to minor support/resistances (1357-1330) and just now we broke down and first support should come pretty fast, located @price 1312-1315.
I am going to look for reversal bars around...
Im looking for the bigger move since 21july to come down a bit. We have a double top with nice bearish tails which confirmes this is the top for now.
I am shorting from 1362 and taking a bit off my position 1353/52, and will keep looking for reversal bars on the green ractangles where support should kick in.
Long term gold is still very bullish.
we had this big wave up since 2014, we have consolidated for quite a bit between support/resistance. We got a nice little breakdown/pullback to .382 in early may where buyers stepped in quite hard. We are currently trading in a triangle and im waiting for it to break in any direction. If it breaks upwards I will go long with targets 8.80 minimum and if it breaks...