GOLD Golden Sell SetupGOLD on the daily time frame gives a nice sell setup for the upcoming week. Its approaching the 14 ema and the 72 ema is very close to it. Since the indicators give a bearish crossover chances are high that these ema levels will break. As you can see in the past these breaks mostly lead to a further downfall giving it a very high probability that price will hit the 1244 support level. Judging by the size of the previous moves after an ema break its also likely that this 1244 support well break.
Sell at market open.
Stop at 1266
At 1244 move stop to 1252
At 1236 move stop to 1244
At 1224 move stop to 1232
At 1217 take profit or move stop to 1226 and aim at a further fall down
Gc!!
Gold Sell The BreakoutVery nice setup for gold on the daily time frame. It has broken down from the range and the indicators are also very bearish.
This makes gold a very nice sell for a target of at least 1215 and maybe lower.
Price probably falls to the next support level or the one under it before a wave back up. For the clarity I have also added the other support levels.
TP: 1218 > 1210
SL: 1260
GOLD Start BuyingOn the daily time frame gold is starting to show some buying strength again after a long bearish trend. Currently there are 2 scenarios. Straight up from here or small movement up followed by a retracement towards the support area before a strong move up.
Trading Advice:
Risk: Start with a small buy position, add more at the support or when the upper range has been.
Low Risk: Wait till price get close to the support area or has broken the upper range, then add a nice buy position. If you did add a buy at the support level add more when the upper range has been broken.
GC (Gold) short downtrend continued by strong uptrend.Classic gold when breaking down in a bearish channel . We'll see a nice slide downwards in to the heavy "demand" zone continued with an absorption and then expect a bullish channel formation with a nice move upwards. Rinse and repeat with gold. Of course there is always the chance these support levels dont hold (paired with bearish news) and we get a nasty breakdown. Watch key levels marked on the chart for buy areas.
GC (Gold) short downtrend continued by strong uptrend.Classic gold when breaking down in a bearish channel. We'll see a nice slide downwards in to the heavy "demand" zone continued with an absorption and then expect a bullish channel formation with a nice move upwards. Rinse and repeat with gold. Of course there is always the chance these support levels dont hold (paired with bearish news) and we get a nasty breakdown. Watch key levels marked on the chart for buy areas.
Gold - GC at decision point.I see that Gold has risen above the U-MH's.
But also stalled there, now trading back into the orange fork, and closed exactly above the blue U-MLH.
If price is trading back into the blue fork, then we will see a nice drop.
Otherwise it will rise like a balloon...until the guys with the needle ending the party once again.
So, let's observe and act accordingly.
P!
GOLD Buy & Sell SetupGold on the daily time frame shows on very interesting setup that can goes either way.
It will all depend on how gold will close today.
Buy:
Close above upper range, 1272 or higher.
Take Profit: 1292
Stop Loss: 1264
Sell:
Close below lower range, around 1269 or lower.
Take Profit: 1235
Stop loss: 1278, if 1260 breaks move stop loss to entry price, from there move stop down $5 for every $10 gold goes down :)
GOLD - GC In a higher perspective flow.The discussions I read in the last days can be very confusing.
...at least for someone who don't think about the context, and time, and the difference between trend and flow.
You can not chart something in a daily, and talking about the next 5 or 10 years.
That's foolish, period!
This chart shows what I mean about a longterm perspective.
Follow price from the beginning, and then observe, how it acts and re-acts at the lines.
Then sit back, squeeze your eyes and ask yourself: "Where is price flowing NOW?"
The NOW is your perspective for the appropriate timeframe in this chart, which is 2 Months!
Think about this and let this information flow through you brain if you REALLY wanna learn...otherwise just drop it §8-)
P!
Gold breaking Upper RangesOn the 4 hour time frame Gold is showing good strength (Daily about to) The 1st upper range has already been broken and it's now pushing against the 2nd upper range. On the Adx indicator the bearish trend is getting stronger and about the take over from the fading bullish (green) trend line. Also the Stoch Rsi shows nice buying pressure.
Buy between 1221-1224
Stop loss: 1217
Take profit: 1232 first. at this price move your stop loss to 1226 or take your profit. I personally prefer to move up your stop loss to protect you profit and see if gold will go to the 3rd upper range. From this point keep moving up your stop loss.