Gc!!
What happens here in Gold is very important!Gold is pulling back to an important level. What was resistance, should now act as support on a longer term basis. The action here in Gold is very important! Bullish if it holds, bearish if it breaks down through this level! Keep it simple.
Gold - correction below 2000 USDThe price of gold has surged recently. The move seems to be too fast in a too short time which could lead to a larger correction. Looking at the chart it seems that the market has broken an upper limit in an upward channel which has been creating since 2 years. Currently, the price may move back again inside the channel.
In percentage terms, the market may retreat by about 10 percent from the record high. The next potential support may be located at 1788 USD. However, in the longer-term after the correction, the price of gold may continue an upward trend.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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the GOLD behavior could quickly occur! (trading)Hi Traders, today the gold is confused in a trading range in the VWAP.
Focus on volumes that will determine whether or not the trend would be below (bearish trade) the VWAP or above (bullish trade).
Also, the rectangle I drew in the end, once broken, you have the best signal of trading.
Good luck!
Will the gold continue to break historical records?For the next close days, I'm bullish on the Gold: there are still some buying volumes+ more than breaking the historical high in 2011, the gold broke the history line (orange line). So the market can go find the 78.6% Fib Level (2135), and correct after it.
However, the last weekly candle is showing a long upper shadow, which means that sellers are here (or ancient buyers are taking profits), so a correction is expectable due to the sharp increase of the market. Moreover, a negative divergence is observed in the RSI, so a correction may be approaching.
Let's focus on the volumes!
09/08/2020 GBPCAD - WEEKLY PLAY LONG TF H4Welcome,
Below you will find our trading notes:
Monthly view - CONSOLIDATION
Weekly view - BULLISH
Daily view - BULLISH
Previous week LOW - 1.7350
Previous week HIGH - 1.7705
Previous week profile - BEARISH
News this week:
12/08 TUE - 8.00
13/08 WED - 8.00
Where to focus:
LONG SIDE SETUPS ONLY
LIQUIDITY BELOW : 1.7350
SUPPORT STRUCTURE : 1.7323 -> 1.7365
SUPPORT LOWER STRUCTURE : 1.7279 -> 1.7307
LIQUIDITY ABOVE : 1.7675
RESISTANCE STRUCTURE : 1.7700 -> 1.7850
Weekly scenario:
We expect pullback to one of our defined support structures, where we'll look for entries long, or just straight upside push.
If it push straight up, then we will wait for pullback to jump in,
If first support structure is broken, then we focus on entries on the lower support structure.
If second support structure is broken, we will move to side lines.
If we'll see push from our long side zones, then first TP is 1.7575 but over all target is 1.7700+
Protection strategy:
SL up to 30 pips below support structure
REMEMBER!
NEVER BE GREEDY AND DON"T FALL INTO EMOTIONS :)
If that was helpful please like and share :)
HAVE AN AMAZING DAY!
ENJOY
historical high predictable from 1980! 2222.3, why not?I show you here the complete history of gold since1980 till 2020. After a long calm market, the gold (known as a safe investment when the inflation comes) began an uptrend behavior since the crisis showed up.
Today with historical highs, The Fibonacci extension shows a possibility that gold could continue till 2223.3, we need to focus on volumes because a correction is still a possibility, and I have shown (in yellow) the obstacles or correction levels of gold.
Uptrend analysis of gold (Weekly & Daily Charts) (GC)
The gold broke the last historical high 61.8% level of Fibonacci extension (weekly chart).
The next target is 78.6% Fibonacci Level.
However, I believe that there will be a correction because of the sharp uptrend on the daily chart, but it won't affect the increasing behavior.
Where does it stop?
It has been suggested that markets are telling the US government to stop spending.
One thing is for sure this is a heck of a ramp - any one out there have idea when this finally reverses?
COMEX:SI1!
GOLD ↗↗Hey, guys.
I hope you're all right today.
From my analysis of the statement I see that GC1! It will rise at this moment or in the next minutes.
By the way, if anyone wants to hlelp with market analysis, I'm on duty.
GoldCartel - Potential bullish pennantQuite sketchy, but I reckon there's a possibility of forming a bullish pennant. This analysis fails if it can break out and close above the 1981 zones.
Catalyst USD:
- Goods Trade Balance -70.6B
- Prelim Wholesale Inventories m/m -2.0%
- Pending Home Sales m/m 16.6%
- Crude Oil Inventories -10.6M
- Federal Funds Rate <0.25%
I sent these charts below to my client's to trade FOMC a few hours ago. It was a quick trade, less than 2 hours of trade. 1973-75 down to 1950, rinse and repeat.
Gold (GC) breaks the the precedent historical highThe gold (known as a safe investment) is now likely to reach 2016.1 level and depending on volumes, it could reach 2275.7 level (of Fibonacci)
Uptrend for the GC (gold futures)the market might reach or approach 2162 if the gold continues the same way (speculative bubble) after breaking the resistance I showed.
However, a bumping into the 1933.1 line and decreasing is still expectable.
Keep an Eye on the volumes!
Good time for taking Profits GC (GOLD Futures) by ThinkingAntsOkWith this post, we don't want to say that Gold cant keeps rising, the idea we want to give is:
a) If you have opened positions on the previous corrective Structure, then you have a good market movement in your favour
b) If your current risk-reward ratio is above 1.5, then it is a good level to take profits
c) The reason is: we are in the all-time high zones, and it is uncertain how the price can behave here
d) Our approach is always to close positions on relevant support resistance zones, and then wait again for a clear corrective Structures like the 2 that you can see on this chart.
Gold / XauusdGold / XAUUSD Technical Analysis
After the uptrend move in November 2018 we entered a bow tie diameter. This uptrend can be considered as a large C-wave branch. Wave C itself is a dual-diameter + flattened and possibly a short zigzag combination that can temporarily end a 2-year gold ascent, and in the $ 1,500 gold time frame, it can fluctuate for several months.
By WinXSell
Gold / XAUUSD Analysis Using Neowave Strategy
Is gold ready for a major correction ?1860 is the 100% Fib extension. I reckon XAU needs a major correction, at least to the "potential target 1", an excellent risk-reward ratio for sure.
This analysis fails if it can break out and close above the 100% Fib extension.
PS: Please don't trade this analysis blindly, do your research before you enter the trade. I'm too busy with my clients, and I'm not going to share the updates.
GOLD ↗↗Hey, guys.
I hope you're all right today.
From my analysis of the statement I see that GC1! It will rise at this moment or in the next minutes.
By the way, if anyone wants to hlelp with market analysis, I'm on duty.
