BTD for 2020
Shoulda caught this H&S neckline before... Looks like one more impulse down to complete wave 5 of C and the H&S pattern.
Massive support levels around 1433-1425. Wave 2 top, channel bottom, bullish gartley, 1.618 AB=CD extension. Looking for oversold conditions on higher TFs and bullish divergence. Easy buy in this range, Feb GLD calls look tasty once we get a lower low.
Massive support levels around 1433-1425. Wave 2 top, channel bottom, bullish gartley, 1.618 AB=CD extension. Looking for oversold conditions on higher TFs and bullish divergence. Easy buy in this range, Feb GLD calls look tasty once we get a lower low.
Note
Looks like GOLD is coiling for a breakout... look to see if it can maintain this shallow channel like in May. The Fed is staying put... once the flight from risk-on assets begin I expect GOLD to rally to upwards of 1600 by April.Note
GOLD rallying as expected.... despite perceived "safety" in us/china trade deal. One has to wonder why. The answer is probably a selloff in bonds and equities coming in the next several wks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.