Gc!1
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 2M Linear 45 Year OverviewRinse and repeat. This will be chart 1 of 4 or 5. Lots of technical dynamics in play. I will post the other "layers" shortly.
GOLD, XAUUSD Linear Daily Bottom/Top ChannelLower indicators suggest major top late August / early September with price weakening ensuing.
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.
XAUUSD Support: 1,478 - Resistance: 1,518Staying on the sideline is the best thing to do at the moment.
For intraday traders you can wait for a breakthrough of the yellow channel as shown in the picture.
XAUUSD
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.
We are providing free forex signals. You can join clicking below telegram link or comment your telegram username we will add you there.
Join with us for free signals
Telegram - t.me
Facebook - www.facebook.com
Twitter - twitter.com
Website - www.forexcaction.com
FOMC Trading idea for XAUUSDRight now we can see buying pressure on resistance level 1520. If during FOMC buyers will show initiative we can see breakout past 1520 level.
gold, gc, xauusd possible shortwill be watching the low for further shorts, please note if using xau make the proper price adjustment
Gold update in case the peak exceeds 1566Gold update in case the peak exceeds 1566
As can be seen from the chart
If the previous "resistance" peak exceeds 1566, the next target is 1642
According to the technical form
Gold holding Trend. Up then down againGC still holding the trendline pretty well with a "zone" to match. Could be an easy entry. Loking for this to rise maybe overnight up into the trendline/zone with a drop to follow. Could see good prices on PUTs if this happens and catch it off the rise. Any positions held nust be patient. Trend is your friend "until the end"
Gold - Buying dips to the cloudTrade Idea
3 consecutive negative sessions have been posted.
The medium term bias remains bullish.
Current prices have reacted from a high of 1555, however, we expect further gains to follow.
Sentiment remains positive despite the pull-back lower in prices.
Preferred trade is to buy on dips.
We look to Buy at 1510
Stop: 1500
Target 1: 1540
Target 2: 1555
Gold to Silver R retesting multy-year H&S's NecklineBetting on laggards is like hoping to get drunk by being late to the party.
Gold is about to usher in a big dropGold will usher in a sharp fall in the next three months, falling to 1333-1390. In addition, cftc's speculative longs are already crowded.
JDST vs JNUG vs GOLD Weekly Log LineGold's 6 year long backtest is nearing an end. JNUG/JDST likely to reverse and reconverge at mean.
