GOLD Barrick Gold Potential Oversold Bounce
Looking for an oversold bounce for Barrick to remain in uptrend channel
Barrickgold
DBL bottom on Barrick GOLD coupled with volume accumulationThis chart looks poised for an immediate parabolic surge; with DOW hitting session highs for the quarter (and breaking its ATH for the 6th or 7th time since last summer) my crystall ball reveals an impending sell-off; followed by a retracement & right now with what's going on in the amount of #crypto dumped we're looking at a retracement on BTCUSD (for those unfamiliar -- BTC & GLD seem to parallell each other inthat they are the goto assets for panicked investors during market uncertainty -- of which there has been nothing but lately) with EMA/50 day MACD/bollinger's all indicating a parabolic surge is due on this chart soon.
ALWAYS set your stop-losses first! So with that being said:
STOP @ $17.18
TP1 (SHORT 24-48 HRS): $18.18
TP2 (MID-- 72 hours): $18.75
TP2 (LONG) 09/20: $19.48
These timeframes are SHORTENED as this is EMA (closer to day trading) though not exactly.
With that being said; trade safely!
DISCLAIMER:
NOT FINANCIAL ADVISE!
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FOMO in GOLD? Barrick is looking extremely overbought and in a FOMO stage. Weekly charts still show there some upside left. However, historical RSI levels are way too high. Also, if price action turns at these levels and shows signs of resistance, price will cool off. There wont be any real break out until it pops out of this downward channel that appears to be forming. Exercise caution if you are going long. Gold has been in a multi-year bear market. Is this the beginning of a new trend or simply a FOMO rally?
GOLD before an additional 48% rise... The exchange rate has entered a correction phase. Therefore a correction wave is expected. This wave should be used for long-distance entry. The analysis shows that the exchange rate creates a fractal movement. Its size is similar to the size of the 1st fractal. Therefore, we can use this target price. And it can be seen that the exchange rate started to rise in the long run. In the drawing, I indicated a red "X" sign which fracture failure strengthens this image. The exchange rate can be traversed by a wave structure with triple structure within the 2nd fracture. For this z rising wave, the target price is 23.94 usd
GOLD (Barrick) exchange rate before 8% rise.... The exchange rate has reached the bottom of its correction level. This level could be 12.16 usd. I expect a rise from this level. The rise target price is 13.26 usd. Other Strategic Formatting The "mirror axis" projected on the D1 ATR axis is expected to be tested. This is the primary resistance level.
This is soo badGold ST trending down, Barrick is a bad position. Hope you didn't buy at support...even though I know you did.
P.s. You can compensate the loss by investing in Stocks
Don't let them fool youFalse breakout, this is why I always wait for for confirmation. Can't imagine how many lost their money today.
Learn from your mistakes, this particular lesson is 'gold'.
$GOLD - end of reversal This looks like inverse head and shoulders reversal for Barrick Gold... Will look for a break out...
Barrick Gold Corp. exchange rate before 18% increase... Perhaps it is not surprising that the nature of the wave axis is similar to the wave axis of the XAUUSD. Similarly, both rates are moving symmetrically. We assume that further increases may occur. Its size and structure may be similar to wave A. But the direction is opposite. If this assumption is correct, the price rise target price is 16.51usd.
GOLD: Weekly trend possible...I'm long $GOLD here, from a tad lower. I think this miner is primed to rally from this juncture, potential upside is very good if it manages to climb above Key Earnings Resistance above. We can hold for an extended period of time as long as we bottom here in the short term.
Best of luck,
Ivan Labrie.
$gold opened below 200 maYet I'm long Gold long term, but, you know positioning is what helps you to avoid low R/R ratios. We are way too far from what a breakout should be. I'll sit tight.
ABX.TO on watch for hourly equilibrium, a potential swingI'll be watching ABX.TO tomorrow for a potential swing entry. My entry stop will be below the last hourly support and if I do take this trade, I will monitor any SPY consolidation to ensure my position is not in danger.
Key resistance 17.40
ABX Barrick Gold Corp. BUYBarrick Gold (ABX) Q1 Earnings In Line, Sales Beat Estimates. Technicals confirm bullish sentiment. RSI downtrend broke above. V bottom on higher TF. Coppock heading to break 0 line. FIB retracement 50-61.8%. Recently price of GOLD have stabilized finishing the downward movement since 2012. Expectation for appreciation in metal prices. Long-term BUY. Good Luck
ABX POTENTIAL 5 WAVE CORRECTION BEFORE THE BREAKOUTABX seems ready to complete a potential 5 wave correction. A rejection on the upper trendline can indicate the starting point for the final E wave. If this is the case i'm expecting a strong breakout to the upside.
Barrick Gold Swing Trade Opportunity Barrick gold -0.45% is evolving into a nice parallel channel . There is also a divergence between price action and the oscillator. That is why I would tend to be bullish on a swing outlook . However, the gold 0.83% market is still down. At least, we now have the Fed's decision on interest rates. Keep in mind that unemployment is at historical low in the US and wage growth is also at its fastest in 9 years ( Financial Times ). The Fed is obviously going to continue increasing rates. However they might surprise investors on the pace they do it at.
Watch the news carefully and trade safe.
ABX Barrick Gold Beat Down Dog may Lead the NEXT GDX BuLL?Longer term trade setup for Canadians in RRSP or TFSA
Since no shorts can be taken in RRSP or TFSA in Canada be patient and plan out the longer term longs with the highest probability of working out.
The being patient part is still a significant challenge for myself.
Two options for entry if things work out and ABX gets this low.
Like anything else in life there is no gaurantee price will Reverse but if it does it is best to be prepared and have a plan.
Plan your trade and trade your plan.
$USDOLLAR Norm Winski 2018 vs 1937 Blood Red Moon Astro Chart calls GOLD Bottom REVERSAL
HTTPS://PBS.TWIMG.COM/MEDIA/DJHVVO5WSAAIXPX.JPG
High Octane Bullish Speculation On Barrick GoldABX is on a multi year bullish flag, and possibly forming a multi month reverse H&S (speculative). After hitting te 0.618 fib retracement from this years' highs and coming down, if the multi year support trend line holds (~0.236 fib retracement), it could form the reverse H&S and end the year breaking out of the multi year downtrend resistance line, meeting around the 1.618 fib retracement level (~18$ — which is also around 2017 highs).
Barrick Gold Corp. for a long time ...Barrick Gold Corp. for a long time . The exchange rate has ended its correction. The correction level is 11.49 usd. From this level, it offers a very good opportunity for a longer-term investment. The movement of the exchange rate is probable on a double wave structure. The first wave (0A) and the second (BC). Currently, the exchange rate moves in the (BC) structure. If the assumption is correct, the target price for this wave is 28.55 USD Very good yield risk.
Barrick Gold #ABX long term demand imbalancesBarrick Gold #ABX long scenarios at new monthly demand zones. Potential new demand zones being created off tested monthly demand zone around 14.00 which played out nicely. Long term buy setup at monthly demand around 8.00, very low at all time lows. Monthly demand level has a very strong bullish impulse. Shorts if upper monthly demand level is taken out
BARRICK GOLD IS SETTING THE NEXT LEG HIGHER UPNice setup, big picture we are forming a big triangular trend continuation structure.
Shortterm looking for the gap close.
Notice the high volume breakout of the red wedge, and now the blue flag is a strong buy setup.
Blessings to you.
Barrick Gold #ABX long term buy at monthly demand at 8Buy Barrick Gold -1.98% at monthly demand around 8.20. Upper monthly demand zone has been tested, expecting bigger penetration and/or removal. Shorts until monthly demand is reached.
