GC UNDER WATCH... GBPCAD 14/12/2019
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Gold target up to $1500-1505. Market structure changing.Gold manages to hold support structure at $1464 which means that a higher low was made and the recent higher high suggests a change in bull structure. The upside seems to be opening up and the buyers are holding the structure. Buy volume has come in on swings higher. At this point we need to see the channel that we've drawn hold well on the support end and break through the resistance part.
Based on the Fib extension, the target for the upside move is $1500-1503 and for that to happen we need to see a new high occur in the coming week. So that means a move into $1490-95 on good volume then hold another higher low support point around $1480.
The rotations that have occurred at the $1464 support level were expected, based on the 4-hour chart that is where the impulse for the move into a new recent high started. So that is the last chance for the buyers to come in and move price higher.
Disclaimer: This trading idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
Gold up to $1500? Trade war seems to think so...Gold was recently looking really bearish as trade news started to flush out of the US that did not look to good for the remainder of the year and the schedule they had planned. A double bottom formed on Gold at $1447-1450 where price rallied and nearly hit $1490 on its way up. The idea here is that there is strong resistance at $1485-1490 based on the low volume node from the year to date volume profile and the previous structure support that is going to act as resistance this time through. Should that level break we can see a move into the year to date POC and ultimately the $1500, the $1490 area will act as support on the retrace lower as well. This upside can be further opened on gold if the trade talks continue to deteriorate over the next few weeks and it puts downside pressure on the US equity markets. If this area holds resistance and there are intraday rotations at the level then we could see another move down to $1445-1450.
Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
Weekly and Daily Analysis on Gold Futures by ThinkingAntsOkUse this as a guide to develop your setup
Main items we can see on the Daily chart:
a)Using Elliott wave theory, we can see a 1234 count with a 5th wave remaining
b)We can observe a Pennant pattern (4th wave) which is considered a continuation structure
c)The cloned ascending trendline supports the pennant pattern
d)Using Fibonacci Extensions, we forecast a bullish movement towards 1650.00 (5th wave)
Weekly Vision:
Gold: where are the opportunities?Hi Guys,
it was on Aug.12 when I posted the following chart and Gold was at 1495 running into 1560:
Fear of tariffs and worries over deterioration of US-China negotiations drove that run.
Today those worries are creeping in again at 1445, and this is what stopped Gold at B.
As far as the main Daily Chart of this post is concerned, to note that from 2 price commenced a correction inside a TR with the shape of a flag with lower point at B (1445), retracing 0.382 fibo of the Bull Run (1->2).
Click & Play the followings to watch how price moves compared to structures:
Questions:
1) Can the retracement of bull run (1-2) be extended into 200SMA?
2) If yes, how why and when?
3) Can the pullback from B be extended?
4) If yes, how why and when?
3) Disregarding directions, where are the opportunities?
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
Gold: some infosHi Guys,
the top made when price hit 200SMA diverge a little with RSI.
Lower band of light blue area may be last line for support for the distribution period B to C to continue.
Need to consider that retracement of AB may be completed.
Price is forming 3-3-3 moves inside violet TR.
B was formed due to uncertanties iro US-China negotiations and possibly deteriorations affecting World economies.
But how USD/JPY is reacting? What are DXY and other inter-connected markets doing? Will the Yuan be subject to manipulation? What's their structure and what can they tell us?
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
GOLD: potential Cup & Handle formation to end ABHi Guys,
This is my view on Gold for a short term pullback into 0,382 Fibonacci retracing AB at 1472.
Below how AB looks in the daily chart and where 1472 is.
Please also click & play the following chart prior of making B (above)
And this is the 1hr chart with more or less the same infos.
For additional infos about Gold please refer to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
GOLD: indications that coming rally is NOT impulsiveHi everyone.
I wanted to take a moment to show why I don't believe that GOLD is ready to breakout into new highs just yet, and why we are more likely to see further consolidation to the downside after a coming retest of the $1,556 highs.
For all of you who are well-versed on Elliottwave principles, you know that an impulse wave can only be either 5 waves or 9 waves (accounting for extensions). If you look at the rally from the lows (Oct 1 - Oct 3), you can clearly see this was a 7-wave move. Therefore, NOT impulsive but corrective.
If true, then the coming gold push higher (cross your fingers) is the B wave of the correction off the lows and NOT the beginning of a new impulse.
Of course, it IS possible that gold could form an EXPANDED FLAT wherein it does go to new highs. But this would still be part of a corrective move and would be followed by a 5-wave impulse DOWN to complete the consolidation.
Personally, I am skeptical of an expanded flat because the trendlines don't favor this playing out... but it is possible, of course.
P.S. Sorry about all the trendlines, I know its annoying and confusing. I have a free account and don't have the ability to create a new clean chart just for publishing ideas (not yet atleast!)
Comments appreciated.
benji
GOLD, XAUUSD 3 Week Linear Technical Big Picture OverviewFrom a purely technical perspective the longer term setup suggests a reversal is already in play. Lower indicators suggest a breakdown from strength in 2011 and has been backtesting the major 2013 breakdown from a position of weakness since. The bell has been rung, time to shimmy back down the rope.
GBPCAD - SELL Nowyes correct Sell it now and it will drop massively and see the description in the image. GC is in overbought situation and price has retraced from the 0.382 fibo level.
Note: Trade at your own risk.
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