Penant has formed in Gold. Breakout above 1230 should be followed by a swift move to $1336 COMEX:GC1!
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.
On the left was the most similar gold spike I could find in 08/2011... I expect a similar retrace here boosted by the possible SPX reversal candle on Friday. Should SPX momentum continue, gold may go to 1140ish before I do a reevaluation.
Third times a charm. We waited for the second resistance area to get long...again. We have been playing the long side for a while and we think Goldie has eyes on the 200 day EMA. For now we have our 1st target and hopefully get number 2 before FOMC. Aunt Janet surely can't pull a Mario and knock us out of our position? ;)
Goldie is trying to back above the 1095 area. If we see price above that area we will look for a trigger to get long. Be patient with her...it may take her a few days to cross that hurdle.
Second Target was hit intraday today and we covered our final leg on a globex pop. This trade work out very nicely with very little pullback. This is the exception and not the rule. Most moves have some back and fill before hitting 2nd and 3rd targets. From the looks of it, 2016 could be a very good year for traders. If you missed this trade DO NOT CHASE! ...
In the medium term, gold is in the 5th wave of an ending diagonal that could end around 1030. But before heading to new lows we could see a correction towards 1120 levels in the (B) wave. In the long term, gold should start a multi-year upward move towards 1450-1500 during these years the sentiment will shift from bearish to bullish and analysts will call for new...
HUI (Gold Bugs Index) throws signals relative to the VIX that are pretty obvious and allow plenty of time for entries and exits. I'll describe how in a minute - before that think about the aspect of Gold trading that is a "worry trade" and think about what the VIX is. As that sinks in, you realize that gold buyers are often playing a much longer time frame than...
Gold (23.03.2015) moved higher as mention in our last article just around swiss gold referendum & posted a higher above $1300 mark. However it felt sharply & reached to the previous bottom around $1138. Now gold showing recovery from previous bottom level & also broken from a shot term descending channel as shown in picture. However this breakout is not...
GC is setting up for a visit of the November lows. Pull backs are sellable. If you are in from the bear flag trim and trail. We are looking for a test of the lows, then 1100.
- TL;DR: GLD in descending triangle similar to that of 2011- 13. Expecting up to 25% decline over next 6 months. - Trade: Short, Limit Cover half @ $98 and half @ $85, Stop Loss @ 124.5 (8%) -OR- Jun 30 113.00 Puts trading $2.91, BE $110 After nearly three years of uninterrupted gains, beginning in late 2008 and ending in late 2011, GLD set a high water mark at...
As we mentioned if GC breaks down we would pass on the trade and we did. We will watch for bounces and see if the hold. This is on our watch list. Stay tuned. Watch more GC analysis here: youtu.be
Gold(17.11.2014) moved higher in last week on profit booking as well as on challenging fundamental growth of major economy. However branching the strong resistance zone with volume could change long term scenario. Now gold is trading around $1187 & we can see on charts, friday gold rally more than 3% & provided a closing above $1182-1172 resistance which where...
GC is still working well for us. We like this trade and are still holding for the "Go or No Go" area. We have dropped our stop another level. We are trailing until we get our level or we get stopped. Either way it's important to manage your trades.
We are choosing to to stay out of GC1! for the time being. While the break of the descending wedge was tradeable...the action has been whippy and the risk has been hard to identify. Look at the larger wedge building. We are keeping a close eye on this for a big break.