Focus will be set on the November 2016. Three things:
1. First and Foremost is FOMC Meeting which will set up December rate hike. I personally am expecting a beautiful rundown of the likes of 2013 Q3 and 2015 Q3.
2. US Presidential election which will likely might
a. Push gold Up to way Overbought euphoria ...
MACD failure to maintain caused cutdown and in danger of crossing below to bearzone. Trix is still lagging in its effort to form bullish momentum. D+ & D- play tug-of-war game, so right now it is really direction-less. Stochastic just need hit and close above to switch the whole play and the rest might follow, for ...
Stops are hit. I made losses for the last 2-3days. Now let's start from scratch position again. Indicators are conflicting at the moment. A thought came to my mind to balance betweek: was 1352 bearish entry or what many called a bull trap, or was it a Bullish momentum builder and we r now in a slight consolidation ...
ECB did spark some sell-off initiatives.
Looking at MACD lines, the sell-off flattened the slope, but none to suggest it is bearish yet.
The gap between D+ and D- is now closer, but again none to suggest it is bearish yet.
Maybe bulls are saving some bullets for later on, considering the move from 1330-1350 ...
Bulls are intact. WIth a close above 1343 materialised, both macd lines are now firmly back in the bull war zone. Supplies given at 1352 and NY took profit at 1351. So now a break of 1352.50 is crucial for bull continuation.
D+ is still floating above, waiting for the next upmomentum to kick-in. However, the ...
Hurray, hurray, hurray, looks like NFP effect has taken its toll with the support of ISM non-manufacturing data last night. a range of $27 is definitely a candle to watch. So NY-ers did unleash the rodeos.
Hurdles overrun: 1330 barrier, 1340/1342 barrier, daily PSAR viciously preyed.
Both of MACD lines are now ...
Green channel renewed with midline 1330.
Following previous reading: "below 40, let alone 30, still smells bearish due to successful dragdown of JulyNFP from 1360-1300", could be further neutralised if in 2-3days no daily lows break.
Macd is a lagging, but also leading forward looking, indicator. It tells upward ...
Speaking of fundamental, it is very strange that gold did not push a lot higher to over 30, or maybe at least close over 25. Media is bragging about how the smart money could have predicted this number's weakness previously and decided to make a joke about breaking 1300. In ...
Been a long time.
Gold has made its bearish path on medium term. However, last night PMI helped gold redeemed some buyers (maybe too early, maybe not). As it s seen MACD is turning flat, so as long as gold is maintained above 1304 (especially 1309). with that support the longer the holding, the longer the chart ...
W-TREND: Most weekly readings show that gold is still in Bullish Trend, but the strength is dissipating. range of 1310-1375 (Monthly range) should be monitored.
Immediate support by EMA10 is at 1318.3 with Tenkan at 1305.
Below it we have intermediate MA21 @ 1281 + Kinjun 1270 and stronger EMA200+250 @1260
Mistakes repeated again. Not to take advantage of the NFP warning.
D- still Bull
H4 - Momentum Shifts to Bear (not yet confirmed) 1328 must break
Unusually high volume, matching those of Pre-&D-Day of Brexit ...
Copy paste the following to your pine editor. and save it as a script and add it to your chart.
// @author LazyBear
// Generic Trix Ribbon plotter. Marks all EMA crossings, if configured to true.
study(title="Trix Ribbon ", shorttitle="TrixRB_LB", overlay=false)
src = close
trix1_color = ...
Some updates are way overdue for me. Now a chance given, let's get back on track.
Weekly: Most of the threads are in overbought zone. A close below prev weekly close (1316) would send a message for the bears to wake up. Luckily, MACD should not allow it at least for another 3-4 weeks. So maybe consolidation may ...
In Theory, 1278 is the neckline. 1278 also happens to be the Support/Resistance line since March 2016.
When the neckline breaks, target is neckline-head length, giving us a target of 1241. Perhaps 1244 is a better target as it is also an important support/resistance line since Feb16.
Momentum in both daily and weekly continued to press brake pedal. Let's hope it maintains its speed whether it is resuming or turning.
Weekly: Weekly PSAR is at 1202. Gold is trying to immerse itself trading below w-mid-bband.
Daily indicators mostly have turned down, showing further weakness to come. Luckily one ...