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Gold - triangle patternWe are still waiting for a potential breakout on the gold market. The price has been consolidating since mid-August. The consolidation looks like a potential symmetrical triangle pattern which is labeled as “abcde”. This pattern may be a part of a larger corrective structure labeled as ABC. According to the Elliott wave theory, wave B may be a triangle pattern. So if the line drawn through the bottoms is broken we would expect another downward movement as a wave C. The next possible support seems to be located at 1788 USD and the nearest possible resistance is set by the upper limit within a triangle. ________ 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. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
SQUEEZED SELLERS - THE TRADE OF THE DAY - GC - 15MNThe easiest trade to take today on the Gold Future - GC. After a long drop during Asian session and European one, the American session wakes up involving huge volumes with initially a strong acceleration of the drop in price to later trace the perfect signal of a possible very profitable long entry. As the sellers has been squeezed, it is later on the buyers who have been squeezed, showing the perfect signal for an exit point. A long trade but still a day trade. The trade of the day!
COMEX:GC1!
by Diallo_Charts_Ideas
2
ridethepig | Gold📍 It is already well known that we 'should have exposure to Gold', the conduct of the flows happened very fast and appears to be quite over stretched in the immediate term. The disproportion I mention is not very well-handled in methods where investors seek to park in cash. The great mobility of Gold is known no more, it's difficult to transport and illiquid in end game strategies. The pullback towards $1,800 and $1675 would make things a lot easier on the battlefront. This is achieved by liquidations in Equities. We also have the following waterfall event in play for Silver, the alerts will remain in play as we approach the apex, and when we arrive it brings together all this energy and momentum, which needs to eat a hearty breakfast! On the technical side, consult once more with $1,970 as strong resistance and assembled defence. The only decision we need to make as sellers or contrarians is required above. While to the downside - 1,803 and 1,673 are themselves interesting targets. Thanks as usual for keeping the feedback coming 👍 or 👎
FOREXCOM:XAUUSDShort
by ridethepig
7
GC Is Testing the Previous HIGH to Consolidate In triangle Patt.EXPECTATION : the market could continue to consolidate to complete the Triangle pattern. Today, I'm bullish since the market is above the VWAP. The market may break the triangle from above to reach some previous recent highs as 78.6% Fibonacci Level which corresponds to the 2015 price level (blue arrow). If the market breaks from below , it may reach the 38.2% Fibonacci level (orange arrow) since it already tested this level 12 August . Focus on volumes traders!
COMEX:GC1!
by GlobalInvestFutures
Gold - market before breakout?Looking at the daily chart of the gold futures we may spot that the price has found potential support at 1911 USD. This level could also be a possible lower limit within a triangle pattern where the upper limit is set by the upper limit within a downward trend channel. If the support also set by the trendline is broken we may expect another decline which could be labeled as wave C. In a larger perspective we can also expect a potential ABC simple correction. ________ 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. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
GOLD in a REVERSE ZONE, Correction Expected To Last High..The bearish Butterfly pattern is indicating a possible retracement for the GOLD to reach the precedent high reached in year 2011. When the market will go up again and break the blue horizontal line , the next target is clearly the next Fibonacci Level which corresponds to 2179.1 price. the Butterfly pattern may be a failing pattern , but the two last candles are comforting my idea. However, we are talking in terms of percentages, so Always keep an eye on volumes and detecting icebergs.
COMEX:GC1!
by GlobalInvestFutures
Gold - more complex corrective structureLooking at the daily chart of the gold futures contracts from CME we may spot a complex corrective structure. Previously we have assumed its simplified form. We have to change that view because wave B takes more time to form. Wave B which consists of three sub-waves labeled as “abc” could create a possible flat correction pattern. If the trendline is broken we could expect another downward wave labeled as wave C. The possible target is set by the previous top and by the lower limit in a downward channel. It seems that only a move above the line drawn through the tops may change the view from bearish to bullish. ________ 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. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
1
The Moment of Truth - US Dollar The Fed has the markets back - as seen in the equities market. Euro/Pound are screaming higher, because the news is better there - with that said Fed has been adding liquidity to the system but so has the ECB -$1.52 trillion in stimulus. Bond Market is saying hey equities no so fast - and to be clear the US Bond market is bigger! Interesting inflection point - this is the moment of truth, for US Dollar, equities, bonds and gold too. Grab you popcorn and enjoy the show. TVC:DXY
TVC:DXY
by Maximilianned
Speculators’ net short U.S. dollar The move is in - easier to go long at this point than try to short the US Dollar or by proxy every other currency pair featuring the USD. At worse you know where to put your stops. After today's move away from the precipice the decades long trendline continues to hold. TVC:DXY The mainstream media in this case Reuters has been reporting this for months. This record short position is the fuel longs need to take the USD higher. If the US Dollar does move higher expect Silver and Gold to come off. For now if you're looking to go short - I would let the trendline break before entering. NEW YORK (Reuters) - Speculators’ net short U.S. dollar positioning soared to the highest since August 2011, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net short dollar position hit $24.27 billion in the week ended July 28, from net shorts of $18.81 billion the previous week. Reporting by Gertrude Chavez-Dreyfuss July 31, 2020 / 4:23 PM
TVC:DXYLong
by Maximilianned
Gold - possible ABC correctionThe price of gold after a strong rally has been creating a potential corrective movement that could be labeled as ABC. The correction occurs after a significant price increase so there could be a stronger pullback (approximately 15%). Currently, after the potential wave A and wave B the wave C may appear. However, it could happen only after a trendline breakout. If the line is broken we may expect a decline to the 100% Fibo expansion or to the previous resistance at 1788 USD. It seems that only a move above the upper limit in a downward channel may be an indicator for the end of the correction. ________ 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. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
Technical expectation of gold retracement signals for next weeksSince the gold has corrected the increasing behavior last 3 weeks, the harmonic pattern tells us that It may retrace to the 0.382 Fibonacci level (The Fibonacci that works well when spotting the highs and bottoms), and join some previous supports and resistances ( the orange line is the mainline that tells us the history of gold for 20 years ). This is a pure technical analysis, the gold could continue the increasing behavior ( due to speculation bubbles especially after the interest of Warren Buffet recently on gold)
COMEX:GC1!
by GlobalInvestFutures