Approaching support zone. Can the bottom beige zone (16.380 - 16.86) holds? Should it holds, we would expect price to go up to 17.25 (next resistance)
Be aware for the next movements of Silver chart, My guess is long position when it reach $17. Stay tuned in the next weeks.
Amazing similarities between the crossing of the parity threshold of Bitcoin's ratio to Silver & now Bitcoin's ratio to Gold. Bitcoin first 'kissed' parity with Silver back in June 2011. To only come back & smash it in February 2013. Bitcoin first 'kissed' parity with Gold back in November 2013. Now it's time to smash it as well. Remember there are over 280...
While FX_IDC:XAUUSD is doing a reversed shampoo, FX_IDC:XAGUSD is forming a nice pennant which could possibly breakout at the same time as its cousin. Long Entry: 17.911 SL: 17.85 TP: 18.16-18.74 Any feedbacks are appreciated
The price finally confirmed the reversal breaking above the resistance. We got small correction on lower time frame (wave b). The yellow zigzag shows the anticipated path. Now the metal aims at 18.28-19.98 according to Fibonacci projections. Then we should see the larger correction. And then another leg upside, probably the final before the huge drop...
I think XAUUSD has just finished Wave X and now targets 1175 for wave Y. Cheers!
Since the price has been rejected for two consecutive attepmts below 17.235 and couldn't close above that level, I think there is a probability of another leg down. Below 15.64 this count would be validated. It's unpleasant for bugs but we shouldn't be biased and trade what we see instead of what we want.
My previous prediction made almost 3 weeks ago is still active:
If your bullish on gold prices, Alamos could be a great proxy to invest to. Major 5 Wave downmove was followed by a minor 5 wave correction higher towards 10$. Now we had an ABC correction towards 6$ of this 5 wave bull move. Market formed a classical flag and broke impulsivley out of it to test 9$ resistance. I am looking for a corrective type of move towards...
Xag-usd Long Setup With Bullish Pin Bar
IF it goes over middle bolinger in january i will buy. under it. i dont buy. I will never short this. If it goes to the lower bolinger 12 levels. I will buy and hold. 2 Action i will take if goes over 16.257 buy. Or if crashed 12 i will buy. No more action. ALL YEAR 2017.
Futures show volume and it was needed for my chart so I prefered it to spot xagusd Very clean chart formation. Looks like it shows the finish of correction. Volume and MACD confirm wave 3 in Ending Diagonal. Break above the upper trendline would confirm the reversal. Price is slightly above 78.6% Fib which is very common for ABC corrections. Price action can take...
Amid all bottoming speculations and Rate Hike in 2016. Gold and Silver gave tough time to the Bull Speculators at end of the year by diminishing the bull story for almost 80%. For EW, it was expected, though it was quickfall even for them. I believe a long term traders should try to take small chunk of buy at $15.3 where I see the possible bottoming. I expect...
I will start to buy this at 15.. So what can happen ? IT Will go to 0.. f... no .. if it goes to 15. then 50 w ma at 17.22 it will see it some time later.. so .. buy 15 sell 17. amazing work :D w if it starts to go over 17 then over 200 w average 18,4 it will be bottomed.. or like 2008 it will crash to 8 levels? :D amazing times coming !
This is simple Cup & Handle pattern setup. We are in a Handle already. Breakup of the Lip would validate longs above $17.24. Target = Lip (17.24) + Depth of the CUP (1.086) = 18.318 Right at that area there is a double resistance - 09NOV low + Falling trendline Some traders enter long on the break of the Handle, which is the first resistance. Anyway one should...
I would be positioned short the ratio (net long silver/gold) as the ratio looks set up in a bear flag, suggesting medium term downside on the weekly chart.