Gold's divergence from lows & a leap back to the high sky today?
https://www.tradingview.com/x/cD5H91uR/
As I now know that Cryptocurrency has broken upwards & out of its tight ranges, well for now at least as it's a very volatile beast, Crypto, & the whole lot of it; my focus has swapped to Gold and Silver prices and I see that both have upside potential of their own, especially during Tuesday Asian trading when I was watching both at the bottom of their 15m triangle patterns and both ended with dignity taking a leap upwards in price.
There are 15M Buy-order blocks that extend down to 2636.30 approximately, but I would not expect price to break-down that much more, given gold's general supremacy and standing in the world at present.
The Gold price has pretty much been in a slightly corrective and smallish price-range for the past 4 weeks. I think another leg-up might commence soon.
As I now know that Cryptocurrency has broken upwards & out of its tight ranges, well for now at least as it's a very volatile beast, Crypto, & the whole lot of it; my focus has swapped to Gold and Silver prices and I see that both have upside potential of their own, especially during Tuesday Asian trading when I was watching both at the bottom of their 15m triangle patterns and both ended with dignity taking a leap upwards in price.
There are 15M Buy-order blocks that extend down to 2636.30 approximately, but I would not expect price to break-down that much more, given gold's general supremacy and standing in the world at present.
The Gold price has pretty much been in a slightly corrective and smallish price-range for the past 4 weeks. I think another leg-up might commence soon.
Note
Gold's 28% rise in 2024 below charted in Bollinger-bands
Trade active
A trade to Buy the Gold Price at current levels up to 2660.
(Big Bullish move up expected)
Stop Loss: 2646.90
Take Profit: Partial at 2670 & then ride price to Higher high.
Note
2642.90 is the preferred Stop Loss Level. Both are quite tight but I am not sure that 2646.90 is enough room for sudden bursts down.Order cancelled
Price came down to test fair value gaps. See below for setup.Trade active
I will monitor this next zone for a setup. It's likely to be a stop loss down around 2636 and buying inside this Demand zone (buy block)
Trade active
Gold Price Pull-back Buy Orders 2676 to 2678 to take Gold to Higher highs beyond 2685.50.
Stop Loss 2672
TP: 2699 and beyond
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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.