Goldchart
Gold's Nostalgia for the Twentieth CenturyMy name is gold and Im nostalgic for 1900s. A simpler time. The good old days. 1969 was a good year. But who knows. I might get the blues for darker days down in darker days. But were they that dark? Maybe hang out in the nostalgic sounds of 1950 maybe even 1994. But shake our brains and dream onto Mars, or sleep again to humble up, load the jets before more dime store bets. Gravity is tempting to believe in. If metals follow aggressively betting markets realizing profits up and down. The quick and the confident will face a Kangaroo in the ring. Equities was a bet. Crypto has many tables, but who's even the dealer? Gold taking 6 months delivery, rumor or podcast I can't remember. I got nothing. I'm watching Aussie... Gold 1969 tops? Short it to 1776 USA.
tbc...
GOLD W3 AUG 2020GOLD W3 AUG 2020
We're safe to say that Gold is consolidating after a huge drop of approximately 10%/2000pips in just 5 trading days. As I have mentioned countless times: Gold is a commodity to have a much better risk to reward ratio in longing than shorting.
Daily A doji like candle followed by a confident bullish candle which closed above the doji wick indicates that buyers is still in control. Many would say there was a bearish engulfing and three black crows before the bull candles. Hence neutral bias at the moment = consolidation.
H4 Price has tagged the 200MA on the 4 hour timeframe.
If price were to break below 1912-1916 (below the doji) 1750 would be an interesting area to go swing long. 1750 is also the 50% fib area, pulling from 1455 lows to the 2075 highs.