Gold to Find Support?Gold has dipped, as anticipated. We punched through $1658 and are heading for $1640. The Kovach OBV has turned sharply downward, suggesting that we will need significant momentum in order to pivot off these levels. We should see some support at $1640 but if not, lows at $1629 should provide further support. If we somehow pivot, then $1658 should provide resistance with $1683 a ceiling.
Safehaven
GOLD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
#Bitcoin $BTC becoming safer asset than #Gold ??In previous times of turmoil, any investor was considered wise to place money into gold vs. fiat or any other investment vehicles. However, this comes with many issues, including accessibility, transportation, etc. So, in my opinion, Bitcoin (with its limited supply coupled with high demand, easy access, and easy transportation) will become considered the safest of the "safe-haven" assets. This chart shows the performance of Bitcoin breaking trend, while invalidating a bearish pennant, during a time when one would assume that money would be moving into Gold instead. For me, personally, this shows that this shift is starting to play out. And, while there still may or may not be a rise in $BTC, the value-loss potential of Bitcoin will become much lower, compared to all other assets.
**This is my opinion based on data. This is not financial advice.**
Gold Tests Lower LevelsGold has broken down from $1670, finding support at $1658 before equilibrating after the hotter than expect CPI data. Support was confirmed by a green triangle and we were able to recover, testing $1658 one more time before tending toward $1670 again. The Kovach OBV is pretty flat, suggesting we may waver around current levels before we see another significant move. We can expect a great deal of resistance above, especially at $1683, which is the lower anchor of our previous Fibonacci levels. If we break through $1658, there is a vacuum zone below to $1640.
Gold RetracesGold has retraced significantly from the $1700's. It appeared that we were ready to solidify this handle, however we faced a massive selloff with the rest of the risk-off assets, as the markets price in sobering data and a hawish Fed. We have broken through $1700 and our first two support levels in the upper $1600's at $1692 and $1683. We are currently finding support at $1670, but appear to be hanging on by a thread. Several green triangles are confirming support at current levels for now. If we are able to rally then $1683 is the next immediate target otherwise $1658 is the next level down.
Can Gold Regain $1700?Gold prices have lifted as risk-off assets rally. We have clawed our way back through the mid $1600's and have hit $1683. We appear to be encountering resistance here, which is to be expected as this is a major level. The Kovach OBV has risen, but has flatlined, indicating that we will need more momentum to properly break out. If so, $1692 is our next target, and we are sure to encounter further resistance as we head toward the $1700 handle. If we retrace, anticipate support at $1670 or $1658.
Gold's Route to New All-Time High -- PostponedGold's transitory route towards a new all-time high has been postponed. Due to a misread with Waves 2 and 4 within sub-wave 3, the previous idea of Gold finding bottom support immediately below $1680 is obviously nullified at this point. Using invalidation as a signal, its now very safe to assume that Gold will drop to $1500-$1480 before support is likely discovered. Considering the size of the Zig-Zag correction in Wave 4 (of sub-wave 3), Fib levels point to the zone of $2270-$2570 for the next multi-year, upside swing.
Roughly a 50% anticipated increase in value, traders/investors/hodlers are due to reap decent profits. Surf with the Digital Surf Trading Community for daily-weekly updates on Gold, BItcoin and more.
Gold Prepares for New Bull Run/ATHResharing this as my last idea wasn't very useful in micro terms. Knowing all to well that the macro picture is what matters most, I still had 0 intents of sharing a decade's long trade idea. Hopefully it ages well though :)
Focusing this time on the more near time, anticipated price action, we can see that Gold is near very strong support levels.
In Elliott Wave speak, I believe us to be ending (c) Wave of an all-time Wave 4 correction.
With (b) Wave of Wave 4 only reaching 100% of (a), it is my belief that (c) wave will reach 100% of (a's) bottom - near 1682, or down to 105% below (a)'s bottom - near 1662.
Gold's new all-time high will sit between $2200 and $2415 and should be seen within the next 18-24 months.
I've missed the top of the last big sell entry but won't find myself on the sidelines for this one.
You shouldn't either. Grab your surfboard and ride the wave with us.
XAUUSD: New All-Time High!Along with the undeniable Elliott Wave Theory, I am using the Fib Circles + Pitchfork tools to see if it will help pinpoint a specific date for Gold's anticipated reversal towards a new all-time high. Will XAU discover its true support on August 16th 22'? If not, what price target would you suggest?
Or...
Has bottom been found already and I've missed the boat!?
#SURF
Why Bonds Might Be Nearing LowsBonds have continued their decline as the markets price in a potentially historic FOMC rate hike this week. Inflation data suggests that the Fed's rate hike trajectory is not really working and inflation is still soaring. On the other hand, multiple indicators suggest that we are in a recession, and the Fed will have to pivot their hawkish stance after this last rate hike. If that is the case, then we expect the bond market to be nearing lows. We have one more technical level before we will have to start using inverse Fibonacci extension levels to predict lows in bonds again, as 113'12 is our last technical level. The Kovach OBV also appears to be leveling off. The next targets from above are 115'03 and 115'29.
New Lows for Gold!Gold has smashed through lower levels, giving up the 1700's entirely, and falling deep into the 1600's. We broke the lower anchor of our Fibonacci levels entirely, which we expected to at least provide some support. Currently we appear to have tested and broken our very last level at 1670. Inverse Fibonacci levels yield the next level below at 1658. The Kovach OBV is abysmally bearish but perhaps 1658 will provide support.
GOLD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
XAUUSD LONG-TERM PLAN, Ideal prices for investmentGold is a practical and easy investment for anyone. For those of you who have medium or long-term goals, such as sending your children to a higher level or buying a house, gold investment is one of the keys. Gold often referred to as a safe haven asset, which is an asset that is known to be unrelated or has a negative correlation with other assets or investment portfolios when there is turmoil or uncertainty in the financial markets.
When global economic uncertainty and a decline in market participants' confidence in the government, the price of gold increases. In other words, gold is a valuable safe haven and can protect investors' assets during a crisis.
We know for now there is still a lot of uncertainty in financial markets, geopolitics, military, and disease outbreaks. Gold still tends in highly priced for long-term investment. Technically in the next few months gold may breakout from the green support area due to tightening monetary policy from the most central bank around the world. then towards macro support.
This is my strategy which can be seen in the chart of the best prices to buy gold for long-term investment.
Bond Market Continues to Price In Hawkish FedBonds have picked up slightly edging above 115'29. ZN had teetered about this level, breaking below it yesterday, but finding support. We did make a run for the next level at 116'20, but rejected this level, and found support again at 115'20. There is a stronger chance of a 75bps rate hike, which is pushing up yields. If we fall further, then 115'03 is the next target.
Gold Attempts Higher LevelsGold keeps testing 1735, the next level above 1729, our 0.236 Fibonacci level. We are edging above this level at the time of this writing. It does look like we are forming a bull consolidation pattern around 1735, potentially gearing up for a breakout. If so, the 0.382 Fibonacci level at 1758 is a reasonable target. If we retrace, we should hit support at the base of the 1700's, with 1705 in particular standing out as it has provided strong support in the past.
GOLD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD .
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
GOLD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
EURCHF: Rallies to be capped!EURCHF
Intraday - We look to Sell at 0.9639 (stop at 0.9659)
Our short term bias remains negative. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. 50 4hour EMA is at 0.9630. The previous swing high is located at 0.9656.
Our profit targets will be 0.9586 and 0.9576
Resistance: 0.9620 / 0.9640 / 0.9660
Support: 0.9600 / 0.9580 / 0.9560
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Gold Tumbles Through Major Support LevelsGold has plummeted, smashing through significant levels of support. We have broken through the 50% Fibonacci level at 1750, and are testing lower levels in the 1700's. Currently, we are in the 1740's and should see support from 1742 or 1747. The Kovach OBV has steadily declined, confirming the bear trend. If things continue in this manner then we should have support from 1729, teh .236 Fibonacci level. If we can muster the strength for a relief rally, the 50% Fibonacci level at 1780 is our next target.
$vet #vechain/usdt 1hr Vechain is essentially following $btc #bitcoins lead, which is short term bearish. I am neutral for now on $vet but long term very bullish, at the minute vet is going sideways but my target for end of year is $1 vechain vet. As the fundamentals are excellent, for example
#Vechain's partnership with PWC has been highlighted in the paper 'Importance Of Blockchain Within The Big 4 CPA Firms: Cryptocurrency’s Existence,
and #Vechain has also become the official Layer 1 #blockchain partner of the ufc in a historic global marketing partnership With 900 million+ households across 175 countries, $VET will receive unprecedented brand/asset integration. fundamentally vechain is a excellent choice to buy and hodl, but to trade in the short term is of course reliant on bitcoins movements, as with most of the market. i would spot buy for now and hold, and not buy on margin until we get some clarification what the market (btc intends to do). I provided some Ta on the 1 hour for those that do want to scalp trade, rsi's aren't to high but currently going sideways for today. thanks like and follow for more updates. Technically Bullish.
Bond Yieds RiseBonds have fallen further, breaking down past 119'01 into the vacuum zone below. We are still hovering above 118'04, the next level of support, but the Kovach OBV is looking pretty bearish. We are starting to see some green triangles on the KRI around 118'20, but we should have strong support at 118'04 if current levels do not hold. If we can pivot, then 119'01 should provide resistance.
GOLD - My Trading Plan in a picture!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on DAILY : Left Chart
GOLD is sitting around a strong support zone so we will be looking for buy setups.
Knowing that GOLD can still trade lower inside the support or even break it downward.
That's why we don't buy blindly, we always zoom in to lower timeframes and wait for the bulls to take over.
on M30 : Right Chart
GOLD is forming a channel in red but the upper trendline is not valid yet.
So we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger => waiting for that third swing to form and then buy after a momentum candle close above it.
Meanwhile , until the buy is activated, GOLD can still trade lower.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich