Waiting for the 3rd gartly wave before shorting
The handle is almost completely formed. It is time to BUY. break out on high volume I would add to positions
After a nice $200+ correction from the fresh all-time highs, Gold appears to be making a new triangle which could breakout to the upside by the end of this month/early-September. While spot gold did go lower which is not reflected in the GLD ETF, spot prices did not stay below $1900 for more then 4 hours which shows there is very STRONG demand under that price....
This candle in Hikani Ashi candles is a sign for selling and changing direction Gold has no bullish momentum, but there is interest in buying and bears unite pressure in the sale, but there is no interest in continuing to sell. good luck
Gold Long Position Update 19:32:31 (UTC) Wed Jun 10, 2020
Here is a scenario that would match the broader assets' bearish case. The subminuette 2 in blue is incredibly short in time which is quite an issue. We were expecting a flat within the yellow micro 2 but we are currently consolidating instead of dumping (to start subwave C of the flat).
Here is a scenario that would match the broader assets' bearish case. The subminuette 2 in blue is incredibly short in time which is an issue. We were expecting a flat within the yellow micro 2 but we are currently consolidating instead of dumping (to start subwave C of the flat).
With the unemployment rate being announced later this week I have been keeping an eye on the gold markets for clues on a direction. Expectations are that unemployment will increase substantially from the last reported 4.4% to levels that haven't been seen since the 1930's. However, the price of gold hasn't really "outperformed" during the Covid-19 pandemic when...
This chart looks poised for an immediate parabolic surge; with DOW hitting session highs for the quarter (and breaking its ATH for the 6th or 7th time since last summer) my crystall ball reveals an impending sell-off; followed by a retracement & right now with what's going on in the amount of #crypto dumped we're looking at a retracement on BTCUSD (for those...
Is this recovery a bull trap? or are we still going to drop? If you say you know- hell maybe you do because I don't. All I know is Gold is Gold and could run if the price goes up lol.
XAUUSD (GOLD) Looking for Long. because Gold have a Support area with Fibo fan level of 0.5. and also Gold have Support and Resistance area. and gold have Divergence area, so it should be up.