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Longgold

Gold depends on $ & supporting by Silver week aheadXAUUSD Technical Overview: Week Pivot: 1191.82 Week Key Resistance: 1200.74 - 1206.16 -1215.16 Week Key Support: 1182.90 - 1177.4 - 1168.48 Technical Indicator: Moving Average: SMA 200 (1196.65) & SMA 55 (1198.28) strong resistance for gold. RSI: The indicator shows downward momentum & having strong resistance at 53.41 level (See in chart) Technical Trade Idea for week: Most Likely Scenario: Long above 1191.40 with target 1200 - 1205 in extension. Alternative Scenario: Short below 1191.40 with target 1182 - 1176 in extension. Fundamental: Gold hit a fresh six-week low late in the week, but a strong performance in silver, coupled with profit-taking in the U.S. Dollar ahead of the week-end, helped the market recover nearly half of the week’s loss. Although the direction of gold prices will be primarily influenced by the U.S. Dollar. Traders should also pay attention to the price action in the silver market. Silver is being supported because it is relatively cheap. Additionally, it could be attracting buyers due to inflationary expectations and industrial demand during the current economic expansion. This makes it a more attractive asset relative to gold. This may be just enough to bring in the buyers. Now that the news is out there, look for heightened volatility. Economic news that could influence the U.S. Dollar and gold prices next week are U.S. ISM Manufacturing PMI, ISM Non-Manufacturing PMI, and the Balance of Trade. Additionally, investors will get the opportunity to react to the September Non-Farm Payrolls report. The headline number is expected to show the economy added 185K jobs last month. Average Hourly Earnings are expected to have risen 0.3% and the Unemployment Rate is expected to dip to 3.8%. The dollar will continue to be influenced by Treasury yields and worries over Italy. We’re going to approach the market early in the week as if a stronger dollar will make gold weak. However, we’ll quickly shift to an upside bias if another rally in silver takes control of the gold market and drags prices higher. Thanks YoCryptoManic
FX_IDC:XAUUSDShort
by yoCryptoManic
A TECHNICALLY CORRECT LONG TRADE ON GOLD!Hello traders i hope you are having a nice trading week so far(at least i do,LoL) what a rally gold is having? At last Gold broke the descending trend line that it was holding it in a longterm bearish trend since 2011. And the question that all traders want to know is where is the ceilling?In my opinion is not too far after we see an another big correction but it is too early to say. Short-term we can read the charts and we have our answers.. Let's see.. TECHNICALS OBSERVATIONS 1.Price is above 200EMA in bullish trend so longs are favored. 2.Price is currently sitting at the bottom blue trend line of the ascending channel. 3.Price is also at the crucial 61.8% Fibonacci retracement of the last leg up. 4.We have the ichimoku clouds as support which are well respected at this rally so far. 5.We also have an important horizontal support level based on previous price structure at 1320 area. 6.We have an RSI enetring in oversold area soon. 7.Stochastics are already in oversold area. 8.We have the Elliott waves coinciding with principles and price action and our current multiple correction wave.We can see also a possible ABC correction before the continuation upwards. POSSIBLE LONG TRADE STOP LOSS AT 1310-1315$ AREA ENTRY PRICE 1320$ AREA FIRST TARGET T1 AT 1350$ SECOND TARGET T2 AT 1370$ THANK YOU FOR SUPPORT! KEEP FOLLOWING FOR MORE PROFITS!
TVC:GOLDLong
by The_Greek_Trader
2
LONG GOLDThe idea is based on professional risk management tools from Bloomberg. Gold price shows some bullish bias after 23.6% Fibonacci correction level formed solid support at 1231.49 against the price recent negative attempts, hinting the attempts to return to the bullish trend, but we notice that stochastic loses its positive momentum clearly, while the EMA50 forms negative pressure against the price.Gold fell to its lowest level in more than a week on Tuesday as reduced concerns over North Korea and the minimal impact of Hurricane Irma drove investors into equities. A steady dollar and firm Treasury yields also made gold a less-attractive investment.The best scenario for gold bulls will be lower Treasury yields and a drop in stock prices. Of course, North Korea remains a wildcard, but right now it seems risks are subsiding. My idea is to Long Gold at the current price or at 1325-1321. SL 1310 TP 1350 -1370.
OANDA:XAUUSDLong
by TodorInchev
USDJPY - called that bounce, down it comes 110.6x criticalSmoked 'em good boys' n girls. Wicked that top down trendline PERFECTLY. (See previous charts, drew it like 2 weeks ago). It was only a matter of time before they had to reset all the indicators and I think I was only a day or less off. Bears need to take out the 3-bar pattern (pretty much taken it out) and more importantly 110.6xxx. Bulls need to stay away until we break this trend (which is the top of the channel. Good luck all! Cliffff this b!tch!
Short
by Nezah
A Virtual Long Call Option on Gold with TGDTGD came up in my Deep Value screeners as one of the highest ranked companies in the screener, so I took a look to see what they were about. Timmins Gold Corp is obviously a gold mining company, so right away I knew their success or demise was closely tied to whatever the price of gold did. Before going into the fundamentals, let's take a look at the charts. Since late January of this year, TGD has been consolidating nicely around the 0.35 - 0.42 price levels. I liked the length of the consolidation, and the overall chart seemed pretty well set up for a high run breakout if the price action dictated. Liking the chart, I headed over to check out the fundamentals of this company to see if there could be any substance to the breakout, or if the breakout would even be justified. TGD is trading at 3.77 times earnings, 0.94 times book value, and is trading 3.59 times its free cash flow. Not bad ratios, and it clearly makes this a deep value play within the gold sector. Taking a look at some of the return percentages for the company I was pleased to find that TGD had an Operating Margin of 30%, ROA of 20%, ROC of 25%, and a 21% ROI. Pretty impressive. Next, I took a look at their cash positions, because I love investing in companies with a ton of cash (RGR is a perfect example of this idea of tons of cash, no debt, and it paying off). TGD's Current Ratio is 3.01, more than enough cash to cover its debts. Taking everything into consideration, this is virtually a long call option on the price of gold without the theta (time decay). I am looking for it to break that consolidation pattern, perhaps the 0.46 price level, at which I would go long, and place my stop right below the consolidation pattern at 0.30. Once again, I want to stress that although the company appears to be solid fundamentally, they are very correlated to whatever the price of Gold does. If gold goes south, TGD will most likely follow. However, if you're long term bullish on the price of gold like I am, this could be a way to expose yourself to gold without having to invest purely in gold or gold futures. As always, critiquing and disagreements on my theses are encouraged. All the best, RC
TLong
by BrandonBeylo