GC
GOLD - Ready to Attack ATHGold has repeatedly formed and broken out of bullish patterns for most of last year and all of this year. The most recent pattern being a bullish pennant that broke out with further aggressive buying. This market is primed to attack all time highs and could very well cut through on it's way to $2000+. As for now, the next major overhead resistance is just below 1,800.
Daily Analysis on Gold Futures (GC) by ThinkingAntsOkUse this as a guide to develop your view of the chart.
Main items we can see on the Daily Chart:
a)Our Count for the whole movement is a 12345 with a 5th on process
b)Currently, we are on a corrective zone, similar to the previous one (check the circles)
c)We think that the current corrective structure is a pennant pattern composed by ABCDE with a D on the process and a C remaining.
d)We will be waiting for the finalization of the corrective structure before developing a long trade towards the Daily Target.
Weekly Vision:
Daily Analysis on Gold Futures (GC) by ThinkingAntsOkUse this as a guide to develop your view of the chart.
a)Our Main analysis on Gold is the Elliott count (12345) with a remaining 5th towards the Fibo extension at 1640.
b)Currently, we forecast a correction similar to the previous one on the chart
c)We will wait for a clear shape before developing new trades on Gold
d)Our objective is to catch the next motive way towards 1640 with a risk-reward ratio equal to or higher than 1.5
e)By the moment we will keep waiting until this formation is clear enough to start thinking on the long setup.
Gold to 159750% retracement will hold as support and potentially take us to target. If you like fibonacci or technical analysis like/comment/follow I will have a free trading chat room and trade room coming soon you can join.
GOLD Look Ahead for week starting 1/26/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last several weeks. The weekly candles show no indication of a top here. Price would have to drop all the way down to close below 1517 in order to be considered to be correcting on the weekly charts.
The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. Price has been testing the 13 ema, currently at 1554.77, almost daily over the last two week, although it has yet to close below it. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing.
The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have trended up here as price has consolidated sideways and up within this accumulation / distribution zone. Price this last week has mostly stayed above the 9/13/30/50 emas, but a break down below the 50 ema would lead to a test of the 200 ema at 1530.
The Gold market is trying to finish out the b-wave of a greater x-wave, and at this point can be considered to be done. The question is will gold put in an additional wave up to test the 61.8% retracement, at 1584.22, of the wave down from the top at 1611.50. After that the c-wave should start to complete this x-wave.
This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
GOLD Look Ahead for week starting 1/19/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last couple of weeks. Last week was a spinning top, which corresponds with the sideways correction we experienced, and invalidates the shooting star from the week before as The Top. Price would have to drop all the way down to close below 1508 in order to be considered to be correcting on the weekly charts.
The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing.
The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have flattened out here as price has corrected down from the new high, and the shorter term emas are all converging, warning of an accumulation / distribution zone. Price this last week has mostly stayed above the 9/13/30/50 emas, but a break down below the 50 ema would lead to a test of the 200 ema at 1520.
On a trading time frame, the Elliott Wave pattern was a b-wave tracing out across the range of the prior a-wave’s 5th wave, and needs to finish out a c-wave up before completing. It looks like gold needs to roll over and go down to test the lows before having a chance at making another run at the recent highs.
This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
GOLD Look Ahead for week starting 1/12/20Gold is in a long-term Bull Market with price trading above the 50 week ema, which is above the 200 and 800 week emas. The long term emas are currently still trending up, despite price action correcting over the last week. As geopolitics with Iran has settled down price has corrected back down. Price would have to drop all the way down to 1500 in order to be considered to be correcting on the weekly charts.
Other factors affecting the price of Gold such as recent Dollar strength and FED Repo/QE programs pumping liquidity, have become headwinds or are having a lesser impact now that we are in the New Year. The dollar has a little higher to go in the week ahead, so expect Gold weakness as a result.
The Commodity is in a long-term Bull Market with price trading above the 50 day ema, which is above the 200 and 800 day emas. The 50 day ema is currently up trending, with Gold trading up in a strong b-wave flat that traded over the previous highs of 1557.10 before trending down again. In an Elliott Wave flat correction the c-wave trades down below the a-wave low, which is at 1445.50, so expect the down-trend to head back down there before completing longer term.
The Commodity is in a Bull Market on the 4 hour, with price above the 50 ema, which is above the 200 ema, which is above the 800 ema. The long term emas have flattened out here as price has corrected down from the new high. With price breaking back above the 9 and 13 emas, gold has technically went back into a bull market.
On a trading time frame, the Elliott Wave patterns start becoming more recognizable, and point to a degree of caution in the near term. It looks like gold needs to roll over and go down to test the lows before having a chance at making another run at the highs. This fits in with the trend and position of the dollar, and likely timing on tensions in the Middle East.
This is my GOLD look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
NatGas/Gold Ratio - Monthly Log ScaleChart reflects a symmetrical triangle reversal pattern. Long-term general outlook - natural gas up, gold down.
GBPCAD WEEKLY PLANS 06/01/2020- Waiting for break of support
- Market is downtrending
- Approaching 2 key levels
GC PLAY - PENGUINS ARE READY FOR 2020:) GBPCAD 1/1/2020
Hello Traders!
We would like to show you a game...
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs.
Targets are marked on the chart as a crosshair.
Heart in the box - a place to jump in/out
Sign with exclamation mark - places to be aware of a few different types of reactions from this level
Target sign - the first target to focus on
Thunder sign - spot to react - possible jump to push into reversal
Penguin - expected direction
Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy.
Like it if it was helpful to you. We appreciate the likes and comments.
Provided feedback helps us with the future service. Got questions? Feel free to PM us!
Thank you for your attention,
GOD BLESS U ALL!
Daily Analysis on Gold Futures + Trade Idea by ThinkingAntsOkUse this a guide to develop your setup
Main Items we can see on the Daily Chart:
-Price has broken the Pennant Pattern
-We expect a continuation of the up movement towards the Bullish daily target
-Before setting orders, we will wait for a Throw-Back to the broken trendline or a support zone
-If that happens we will set our Orders Above the last motive wave and our Stop below the whole structure or below the Throw-Back. Our main target will be the one visible on the chart
waiting for breakoutmarket in consolidation. waiting for breakout to either side before taking any trades
Gold Futures Daily time frameThe Gold Futures is in a down trend.
As long as the market stays in the sell zone
The market should hit the down fib extension
at 1386.2 about 932 ticks away.
Two Scenarios + Trade Filter on GOLD futures by ThinkingAntsOkUse this as a guide to develop your setup.
Based on the Technical structures we can see on the chart, our main vision is Long for Gold because:
-Price above the cloned channel
-Pennant Pattern (Continuation structure)
-Our Setup for a bullish trade will be set IF the price breaks above the pennant pattern and then makes a corrective movement. We will place our orders above that corrective movement
Also, we have seen on the past how the price started bearish movements despite the bullish technical scenario, for that reason, this is how we will trade it on that case:
-If price breaks below the upper trendline of the cloned channel, we will expect a corrective movement and we will set our orders below the corrective wave, with our target on the lower trendline of the pennant pattern
GC UNDER WATCH... GBPCAD 14/12/2019
Hello Traders!
We would like to show you a game...
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs.
Targets are marked on the chart as a crosshair.
Heart in the box - a place to jump in/out
Sign with exclamation mark - places to be aware of a few different types of reactions from this level
Target sign - the first target to focus on
Thunder sign - spot to react - possible jump to push into reversal
Penguin - expected direction
Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy.
Like it if it was helpful to you. We appreciate the likes and comments.
Provided feedback helps us with the future service. Got questions? Feel free to PM us!
Thank you for your attention,
GOD BLESS U ALL!
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.
