Get started

GC

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.
COMEX:GC1!Long
by JoshFX1
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!
COMEX:GC1!
by Tr8dingN3rd
1
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.
COMEX:GC1!Long
by JoshFX1
1
GOLD will fall alot more!On the weekly time frame we see that not only gold is gonna break its lower range. Its also about to break 72 EMA and 14 EMA. As you can see a break of either of this EMA levels made gold trade in the direction of the break for a few weeks and now its about to break both of them almost at once. The Adx indicator also shows a strong bearish trend and Stoch Rsi made a nice bearish crossover on the weekly time frame meaning that buying pressure is over. How to trade: Sell at CMP or sell the Spike. SL at 1240. TP: Who knows where this will end, 1190 might be first bounce back zone
COMEX:GC1!Short
by JoshFX1
Gold nearing lower range and 72EMAAfter a huge wave down from 1294 gold is now not only reaching its lower range but also the 72 EMA on the daily time frame. This will touch this in the 1245-1248 region. Usually when a 72 ema breaks the price continues to move for a bit in that direction. As you can see sometimes the price also bounced back from the 72 ema instead of breaking it. By the look of the Stoch Rsi indicator its likely that Gold will bounce back from the 72 EMA. With already being in the oversold zone there isnt enough selling pressure left to fuel a good break. Most strong breaks of the 72 EMA where done when the Stoch Rsi was in the middle and showing a strong move. Today a bullish FOMC might make gold a bit weaker, that would be a nice entry to buy. Since this is the daily time frame I advice to not open a buy in Gold directly but wait for the daily close of wednesday. If it closes around the 1245 region a buy position is in place. Take Profit targets 1270-1290-1320 stop loss 1236
TVC:GOLDLong
by JoshFX1