Classic Bear Market Rally ActionFibonacci 61.8% also coming up, and aligned with the top resist of the rising bear wedge.
#btc $btc #bitcoin. Classic bear market rally action on steroids.
GOLD-SILVER
inverted cup and handlethey say that the measured move from a successful cup and handle/inverted cup and handle is the distance from bottom of cup to the rim.
PALLADIUM - Wait For It!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Palladium is approaching around a support zone in green so we will be looking for buy setups.
on H4: Palladium formed a valid trendline in orange but it is not ready to go yet.
Before we buy, we want the buyers to prove that they are taking over again.
Trigger => Waiting for a momentum candle close above the last swing high in gray to buy.
Meanwhile, until the buy is activated, Palladium would be overall bearish can still trade lower till 2500 before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
looks like the end of the bear rallyJust also realized this: the build-up on this bearish rising wedge, in comparison to the last big one that marked the top for #bitcoin, was much FASTER and BIGGER.
Right here could be the last chance to sneak out profits for a long time. Just a fair warning.
Quick Precious Metal UpdateXAU/USD – Weekly
What a week! $1670 held again as support during the Monday morning flash crash (which was most probably driven by a large liquidation). The weekly candle looks ugly but in terms of the range and support level I talked about last month there is not big change in the bigger picture. For the patient traders who work with limit orders it was a good opportunity to get some long exposure.
For the longs, $1670 needs to hold and for the more risk averse ones we need to see a break to the upside through the base line which comes in at around $1845.
XAU/USD - Daily
As mentioned in my previous month comment the dip enabled patient buyers to get some long exposure. Currently the price is sitting right at the large liquidity pool of $1750 and it probably will consolidate there for a while.
Last week we quickly got tricked by the price pushing through the base line but then on Monday straight through it on the downside again. What remains is the confluence of the $1845 which seems to be the current resistance plus the upper end of the Ichimoku cloud. This is an important level for the bulls. I am expecting some buying momentum to come in if/when we break that level to the upside.
The downside level to watch remains the $1670.
XAU/USD – 4 hours
Yeah… it looks ugly I have to agree. There is not much to add on this chart. It does not show any immediate trade setups.
XAG/USD – Weekly
In no mans land. We are between the two larger liquidity pools which I have drawn already last month. Both of my bullish pattern (the flat and the triangle) are out of scope now. No trade setup as long we are in the middle of the range.
XAG/USD – Daily
Pretty much the same story here. The $22 level shows some intermediate support but I would still wait till we are closer to either the upper or lower end of the range and then check for a potential trade setup.
XAG/USD – 4 hours
It is looking a bit clearer here in terms of bullish trade setups. We need to take out the $26 level before even thinking about any long positions. The downside is already covered by the range we defined on the daily chart.
GDXJ – Weekly
Many potential bullish patterns got erased with the Monday flash crash in Gold. Same here on the potential symmetrical triangle. The Ichimoku cloud is still bullish but the market sentiment does not feel bullish. $31.50 is the support level to watch.
GDXJ – Daily
Maybe we are in a downward moving channel and currently just sitting on the lower end of it. For the brave ones go long here with a target towards $47. But there is no clear stop, so I would rather play it as a 3-leg strategy to go long the first leg now. Place a second bid in the $37 region and the last one at around $33. Then you can place the stop just below the $31.50. Your target is in the region of $56.
GDXJ – 4 hours
No additional comments to make on the 4 hours chart I am afraid…
Detail Price Action Outlook on GOLD & SILVER
Hello traders:
Let's take a closer look into GOLD and SILVER.
As we have seen some strong bearish moves from market opens this week, let's take a look at it from a technical, price action point of view.
GOLD
From my previous outlook on GOLD:
Price indeed made a push down to the swing lows, which could be forming double bottoms.
What we need to watch out for on the lower time frames to see if there's bullish reversal price action, followed by continuation correction for the buys.
or
If price manages to continue to drop lower than the previous swing lows, then expect the price to continue lower to the bottom of the HTF parallel channel structure, before a big reversal up move.
SILVER
Long Term Outlook on Silver:
From my previous short term outlook on Silver:
Similar developments like GOLD, we see price does push down to the previous swing lows as well.
This is a good area to watch for price development as we could be forming a larger, deeper HTF continuation correction that may be at the bottom of potential reversal area.
Alternatively, if price pushes down lower the previous swing lows, but moving in the corrective phase, then we can still expect the bullish reversal up move once correction completes.
Any questions, comments or feedback please let me know. :)
Thank you
Jojo
New Listing for VOX RoyaltyFirst a video youtu.be
Vox Commences Trading on OTCQX
TORONTO, Aug. 10, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is pleased to announce that its common shares are now trading on the OTCQX® Best Market under the ticker symbol "VOXCF". The OTCQX Best Market is the highest market tier of OTC Markets on which more than 10,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. Vox's common shares will continue to trade on the TSX Venture Exchange under the symbol "VOX".
The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade VOXCF. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Vox is in the process of securing Depository Trust Company ("DTC") eligibility for its common shares. DTC manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. Trading through DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process of daily trades. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com
"We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for new U.S. investors to invest in Vox and for our existing U.S. investors to continue trading," confirmed Kyle Floyd, the CEO of Vox. "This is yet another demonstration of the Company's commitment to building long term shareholder value in the U.S., Canada and internationally. Moreover, I believe that once the Company is DTC eligible, this will further improve our overall liquidity and help to accelerate the expansion of our shareholder base in North America over time."
PLATINUM - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
PLATINUM is sitting around strong support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H1: PLATINUM is forming a channel in orange but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, PLATINUM would be overall bearish can still trade lower till the 900.0 support before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
What happens to gold ?Gold is in a decision position
Gold can re-enter the waning wave
enter : 1760
tp : 1689
sl : breakout bar 1761
good luck
GOLD - Purple War Zones!Hello everyone, if you like the idea, do not forget to support with a like and follow.
GOLD is stuck inside a range in the shape of a channel as shown in blue. And it is currently sitting around the green support zone 1800.0
The highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. (acting as non-horizontal support)
As per my trading style:
I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break, and so on...)
Meanwhile, until a bullish reversal setup is activated, GOLD would be overall bearish and can still test the brown trendline from Daily before going up.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XAUPotential move for XAU, If we see a sell off in the DXY, I would wait for market volume before deciding to take this trade, and a bit more confirmation in the candles, but we may be able to buy XAU, up towards a target of $1827
Broke(n) - Operation Twisted & The Cocaine PhenomenaWhat brings about the Fear cycle?
A loss in CONfidence.
The TINA Argument has remained valid for sometime.
It is axiomatic.
Does one buy Binds with a 100% assurance of Negative Returns?
You first.
Does one protect their wealth in Bitcoin?
No thank you, it is a trading Instrument with ZERO intrinsic Value
relative to any price.
Do Central Banks enjoy Competition?
No... they permit it, but only to a point for a specific Agenda.
Their Agenda should be obvious by now.
Are they thinking about thinking about thinking about you and
yours?
No.
Is BTC a Tier 1 Asser on the Federal Reserve's Balance Sheet?
No.
Will Bitcoin see increased regulation and taxation?
Yes.
Why has Gold not kept up with the expansion in the Monetary Base?
It never has nor will it.
Gold has a function, it is non-monetary for us mere mortals and will
remain as such for eternity.
Wanna strap on a Feed Bag @ Taco Bell - try paying at Drive-Thru with
Gold.
Money is no longer money, it is a delusional promise to repay all debts
Public and Private - which ceased to be viable a very long time ago.
There is far too much Debt to ever be repaid with Currency.
What's left, the Largest Casino on the Face of the Planet - Capital Stocks:
Bonds, Stocks and Real Estate.
All at absurd Valuations.
If you can't afford a home, buy stocks.
If you believe Bonds are going to be left for dead one day, buy stocks.
If you believe it will all fail, buy Gold, Silver, Crypto.
Good luck as everyone losses a Hand in this complete disaster unfolding.
Everyone.
goldstuck between the 50(red) and 200(blue) day ema's
a fair bit of high impact new's this week finishing with the nfp
until were out of this zone im not trading gold
nzd/cad about to hit first tp 0.883 +140pips
gbp/aud in good profit
usd/chf and eur/chf turning back in my favour for long
Be cautious: Commercials are selling and the cycle is down.I think the dollar has some space to go down at this current moment...
Look at the provided screenshot and see the correlation with your own eyes.
Strong underlying momentum in Precious MetalsMy 5-7 year outlook. Amazing fundamental and technical picture for precious metals and for the gold & silver mining companies. They are very undervalued relative to the underlying metals they mine and the fundamental picture gets better and better. They're growing cash flows and making very large margins of over 35% on average. Inflation is here and the Federal Reserve & Government are trapped with rates near zero as the economy is beginning to roll over. Large debts of over 130% Debt/GDP necessitates interest rates remaining capped (Fed funds below 2% for at least 6-10 years). Fiscal spending to grow the economy with yield curve control and currency devaluation to devalue the debt load with ignite a commodities and precious metals bull market and cycle that hasn't been seen since the 1970s.
Strong underlying momentum in Precious MetalsMy 5-7 year outlook. Amazing fundamental and technical picture for precious metals and for the gold & silver mining companies
Gold is Looking Much StrongerAMEX:GLD
This looks like it could be setting up for a longer term trend. There is a lot of space ahead of us while the longer term bulls won out on the last important retest. Bearing in mind this is on a 2 day chart.
gold sellstill short on on gold moved sl
looks like the trend line has just been broke
first tp 1818
second tp 1808 this one may come it may not
im bullish on gold now so be looking for longs tomorrow if they come or next week
gold day trading gone for a sell this morning expecting bullish moves later
tp 1796-1790
killed it yesterday ill attach the gold posts
US 10-year yields to fall further?As the US 10-year yield has retested the 200-MA acting as a resistance, it is now highly likely to continue to move downward. Indeed, despite inflation fears, the current US deficits wouldn't allow significantly higher yields. Therefore, bonds holder are likely to get negative real yields for a long time. In such a setup, owning long-duration bonds seems to be quite risky, while precious metals should benefit from this situation.
Gold bulls' revenge will be sweet (Update 3)Hi guys,
After a well-deserved holiday, a week of acclimatising at home and adapting to current market dynamics, it's time to make some serious bucks from the market. First things first, I want to thank all my followers for following my trading adventure for over a year now.
Now onto the meat and potatoes. What is happening in the market? It seems the market is losing it and all correlations that have been in place for months (if not years) are thrown out of the window. Silver up/gold down and vice versa, dollar up/gold up, US10Y down/dollar up. Totally irrational behaviour and when this happens, you know shit is about to hit the fan. This should not surprise anyone, because everything looks like a big bubble that is about to burst. The housing market, commodity prices, equities and other asset classes are trading at extremely high levels which have not seen before.
Many respected analysts such as Jeremy Grantham (who has a proven trackrecord on bubble recognition) have voiced their deepest concerns about current market conditions and dynamics. With annualized monthly inflation running as high as 11%, real growth and the jobmarket not looking to improve, the stagflation ghost of the 1970-1980's is just around the corner. Stagflation is the magic word that will make gold propel to higher grounds and it is only since a week or two that analysts dare to pronounce the word in the respected media outlets.
But before we see strong bullish PA on gold, we still have some time to kill. FOMC is planned on Wednesday and this is a key risk event for the market and gold in particular. After the big sell-off of June, where gold tumled more than $150, Powell turned dovish in front of the Senate and reiterated that it is too soon to raise interest rates and start tapering. I do not expect Powell to turn away from the script or give a timeline next Wednesday on tapering, but I do expect we will see a $20-$30 sell-off towards $1780-$1785, providing gold bulls with a fresh new entry for $1900+.
August will be a hot summer month for precious metals in the lead-up to the Jackson Hole Symposium that is planned in the last week of August, and I am expecting NFP being the trigger for the bull rally. It is yet to be seen what will happen in Q4, but I am expecting some profit taking towards the yearly Christmas rally in December where I expect gold to make new all time highs in Q1 2022.
I can not repeat enough that current market conditions and dynamics are extremely bullish for gold and buying on dips is the way to go, don't get noised out by the small bearish candles you see. You do not want to be on the wrong side when gold starts another $200 bull rally. COT-report is bullish and large speculators are losing their shorts and adding buys for 4 weeks in a row.
Good luck and may the blue pips be on your side.
Love and hugs,
Cesaro
GOLD (XAUUSD) Two Scenarios For Next Week Explained 🥇
Hey traders,
Analyzing a price action on Gold I see two potential scenarios for next week.
Bearish
The price formed a head and shoulders pattern on 12h chart.
1790 - 1795 is its neckline.
In case if the price breaks that and closes below, bearish continuation will be expected.
Next support will be 1756
Bullish
Do not forget that the price is still trading in a local bullish trend .
For now, the price is trading above the last higher low level so technically speaking we are still bullish .
The price formed a falling wedge pattern on 4H chart.
In case of its bullish breakout,
bullish continuation will be expected to retest a current structure high.
Goal - 1831
Wait for the trigger and follow the market.
Are you bullish or bearish on Gold?
❤️Please, support this idea with a like and comment!❤️
Global Gold picture 🔥🚀What do we have on the gold chart? Let's look at the global picture!
Gold updated the high of 2011, then corrected and found support at 1677$.
It is now closed in the range of 1677$-1918$ and while the gold is in this range, we should just wait for a clean pattern to enter the position. In addition, we can see that the gold is now near the trend line, which also acts as strong support.
What to do and when to buy?
It is best to wait for the price to break out of this range. If the gold breaks the upper resistance level and tests it as support, it will be a good opportunity to buy with a target above the ATH.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
