GOLDD trade ideas
GOLD Leading DiagonalHello,
What is GOLD?
Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties. It has ownership interests in producing gold mines that are located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, Dominican Republic, Mali, Papua New Guinea, Tanzania, and the United States. The company also has ownership interests in producing copper mines located in Chile, Saudi Arabia, and Zambia; and various other projects located throughout the Americas and Africa. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.
News
My Thoughts For You
This chart is for long term investors. I see a pullback coming but buying the dip is a good idea when it bottoms because you will be on wave 3 short term.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
GoNoGo Charts sees Gold struggling to stay in channelThe left GoNoGo Chart is showing daily prices for gold. This is an interesting moment.
It appears that Gold prices are trying to break out below the lower bound of a trend channel. With this price action over the last few bars we see that the GoNoGo Trend painted a couple of amber neutral bars, suggesting that the “Go” trend is under threat.
in the lower panel, the GoNoGo Oscillator shows that after bearish divergence, momentum is negative and testing zero from below. Will prices fight to remain in the upward trend channel or is a drop coming?
On the right chart, we have a chart of Barrick Gold Corporation, the second largest gold mining corporation in the world.
Note how after breaking down out of its trend channel it painted several amber bars before flagging a “NoGo” and moving lower. The GoNoGo Oscillator led this change by breaking below and staying negative in the lower panel.
Will Gold follow suit?
gold is highly volatile (Breakout). PUTBARRICK Gold is highly volatile and a risky commodity,it has been going bullish since a long time,but the time has come when it has to stop its growth.
Anything that goes up has to come down. Gold will definitely make serious moves in the coming time.The market will go up and down for few down but certainly it will come down in the future months. Have a stop loss of 25.40 and a target of 19.00.
Good Luck.
Barrick sits at an important supportIt is at least short term bullish. I think it can at least test the ~26 gap.
Long position for Barrick Gold USBarrick Gold US is defiantly under valued stock at the moment. When the gold was $1750 there were above $25. Now they are under $24.6. As the gold is going up they should return back to $28 price.
Gold ABC correction and BUM!GOLD respecting the resistance level between 28 and 31 (28.50), looking for its new support in a zone between 22.5 and 23.5 in an abc correction movement. After this should retest resistance before mentioned. If it breaks it new resistance (wich I see happening because of fundamentals around gold) would be around 43.
GOLD FlagGOLD is consolidating in a bullish flag formation. It has also formed a double bottom within that flagging pattern. Looking for this to breakout soon to the 30-31 range.
Long Opportunity in Barrick GOLD. It's Coming Back!Algo GZ + high EW probability area +1H Vegas waves + Oscillators OK + Volume OK
GOLD Barrick Long Setup (1H)Green box: 26.05-26.57
Beware of a potential expanded flat in gold prices which would invalidate this count in Barrick Gold.
# GOLD short from 29 target 22 USD # GOLD short from 29 target 22 USD
# GOLD short from 29 target 22 USD
# GOLD short from 29 target 22 USD
Thanks
Long Opportunity in GOLD (Barrick)?GOLD Barrick consolidating below a big resistance trendline. It could be within a triangle 4 (confirmed by volume, unlike the commodity?). EW geometry not ideal. Green box #1 is 25.67-26.23.
GOLD, VELA DOJI DE INDECISIÓN.SOBRE LA WMA 30, EN EL SEMANAL.
ESPERAMOS CONFIADOS.
AJUSTANDO EL TRAILING
Long Opportunity in GOLD (Barrick Gold)Green box: 23.94-24.81. You can't see it well here but the green box is right at the upper trend line support, in this chart here:
Barrick Gold - Ascending Channel Intact Post-FOMCBarrick has been in an ascending channel since it bottomed in mid-March with multiple tests of the channel and 1 failed breakout after a parabolic rise. Move appears healthy with a slow grind higher.
Post-FOMC, gold continues to trade bullishly with dips being bought prior to the meeting and big spike after "whatever it takes" message from Powell. Since gold is trading higher with multiple tailwinds, Barrick appears ready for the next move up because:
- Channel respect today after initial drop from false breakout,
- Above rising 50, 100, 200 MA, and
- Sideways movements the last 2 weeks heading towards the bottom of the channel.
If it breaks the downtrend for the RSI, it should continue to move higher with resistance at $27.72 from 2008 - 2009.
If it fails to break the downtrend for RSI, likely to move lower with minor support at ~$25 from 100MA and resistance and major support at ~$24 from long-term trend from June 2018.
GOLD Rubberband SnapbackLooks like GOLD has rallied to far to fast, extending beyond the bollinger band and ranking over 90 on stochastics. Being that its on its 3-4 consecutive up day, these are all pointing to selloff for people to start taking profits. This can run down to 22 range, before it can rebase and run higher.
