GOLD is between Key LevelsThe price made a breakout from Range Zone, it's powerful bearish pattern.
It can bounce from Key Level 1400.00 and retest 1414.00
We can open SELL in markered Zone.
Potential profit will be in 5 times bigger than risk.
CFD
Euro Stoxx BreakdownEuro Stoxx Index is also showing signs similar to my CAC40 idea (link below). Again, be wary with the Fed tomorrow. Cutting rates, and future rate cuts, means that there will be nowhere to go for yield other than the stock market. Central banks are attempting to keep stocks propped. This is their new mandate: to keep assets propped.
You can see a some what of a double top as Euro Stoxx tried to break out. Failed to and you can see the long wick and large engulfing red candle. We then created a lower high and have broken below a support/ flip zone. A strong break as well.
Looking to the flip zone at the 3415 zone...although be wary of 3437 too. Would expect one more lower high swing.
US 500 moving in channel.We can open BUY/SELL position near marked zones in channel.
Potential profit will be in 3 times bigger than risk.
GOLD is in the middle of the Range ChannelWe can open SELL in Zone if the price will cross lower border of the Range Channel
and daily candle will close under it.
Potential profit will be in 3 times bigger then risk.
Gold - Bullish Technical Technically, ascending triangle and trend lines show Gold is still looking on an up trend with bullish indicators. However, fundamentals of Fed Cut could lead to a large reversal, breaking bottom trend line and sinking below $1400. The RSI isn't showing overly overbought or undersold, so there may be some technical support/resistance from a break out either way. Due to the unknown of how the market will react to what the Fed does, I will be either looking for a reversal of the up trend and short, or if it continues on the current trend and does a quick break even higher, continues on higher highs, and lower lows, I will look for RSI overbought conditions and short there.
Corn - Looking Stronger BuyI have been hovering over the buy button on corn past week. Wasn't convinced enough to enter, and now heading back to Fib retracement towards $4. The closer to this the stronger chance of a rally - from either fundamentals coning out due to crop damage and lower yields, and also some technical short closing since last rally. Keeping in mind the August report, there could be some positioning before here too from fund managers, adding to volatility. That said, if crops are seen as doing well, with ample inventories, and no substantial buying even though China tariff waiver, prices could continue the current short term bearish trend and breeze through $4 down to $3.80. RSI already showing oversold on shorterm though with possible technicals support current prices and allow for some upside. Overall still see risk to upside despite last week's drop.
Bund CFD (DE10YBEUR) short.All description on chart.
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#GOLDTime limit is specified;
Support and resistance are specified;
The price is within the pattern;
GoldWait for confirmation candle!
US treasury Yield 10-YR +0.017
FA -> short postion
TA -> short position
Corn - Leaning Towards Nice Long TradeI feel corn is an easy trade at moment. If we look at 4.29 as a kind of average way point at the moment.
If it shoots above that with more news of more crop issues in US, look for an overbought RSI to short or jump on the long train if feel confident. There are uncertainties of the amount of acreage planted, and extended heat causing further crop damage, but there is a good harvest in South American (from my understanding)
But if cooling this week ahead, and crop acreage isn't as bad as people thinking, could be a price breakdown below $4.
Basically, prices below that way point of 4.29 I wouldn't short, and above that I wouldn't long. I want to see some fundamental reason for long or short. Though if wanted to place a position at start of week, I would open a long with low risk equity position.
I feel that risk is to upside at moment, with some bullish news easily pushing to $5. Though over this, demand side reduction could occur, so if it gets there, a short position should be considered.
Unless some overly bearish news, I don't see any huge price drops, and see support around that current $4 - $4.29 level, I see this as an easy long trade (unless fundamental breakdown)
Gold Playing Fib Awaiting NewsGold is playing to recent Fib levels on the 4HR.
Waiting for Fed cut news to see where it goes.
Personally feel the fed cut is priced in, a 25 point cut maybe pop and drop below current levels, but 1400 psychological support - and 50 would be a pop and hold at higher level IMO.
At the moment if RSI gets above 70 looking at short, but any long am happy to sit out as feel risk to the downside, even if there;s a short term pop.
For those wanting long, watch the fib point bounces, could trade that through week before news hits.
Overall though I am looking to short awaiting further indication to enter market through Fed Cut news (due to short term pop as above)
Bund CFD (DE10YBEUR) short.All description on chart.
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USOIL is good to buy USOIL is currently in buy region after making a successful pullback, we can look to buy within the red zone marked on the chart, a break below 54.39 invalidate this analysis...
GER 30 (DAX), Chance to start bullish trend!The price is breakout downward channel and it we can see the grow is start!
#GOLDIn the event of failure of each of the yellow areas, you can go to the red range;
Time limit is specified;
The price is inside the triangle;
10 - XAGUSD - Metals | Reversal & Impulse | July 2019XAGUSD labeled within Bullish Corrective structure in Primary Y (pink).
Patterns:
- Intermediate (A) (green) - Three Swings Sequence in its Minor ABC (blue).
- Intermediate (B) (green) - Complex Correction which could transform into a Double Three if a move on the down-side shows strength.
Silver should be able to start a bullish impulse once the current structure finalizes.
9 - XAUUSD - Metals | Reversal & Impulse | July 2019XAUUSD labeled within Bullish Impulse in Intermediate (3) (green).
Patterns:
- Minor 3 (green) - Bullish Extension
- Minor 4 (green) - Contracting Triangle
Gold should be able to resume the bullish impulse after completing the correction in Minor 4 (green).
Minor 5 (green) should present a sudden and sustained rally.
[Gold] July 11, 2019 - ALuoTradingJournalThe gold was successfully weakened with its first resistance level near 1423 as analysed in the last journal.
A upward trend went up to the price near 1423, and from what we can see in H4, we can see that the signal is hinting that 1427 was its high for today.
This means that, if doing a short term position if it does not surpass the its current high. I will make stop loss at 1429 or 1430 with a tiny space, incase of a sudden spike pops up and go downward trend straight afterwards, but the final destination for short position will still be as 1440. Anything passes that, all short positions must stop from my point of view. For the moment, I will aim for the 1400 as my Take Profit.
In long term, if price doesnt break 1440, I will aim 1360 as the first long term aim. During time will be getting those retracements.
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market in going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.
#GOLDTime limit is specified;
Support and resistance are specified;
The price is within the pattern;
Be careful about the candlestick
SPX500 - LONG, supported by ascending trendlineSPX500 confirmed resistance off lower ascending channel line during Asian session. Looking to go long from 2981, TP 3045. SL 2974.
