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BARRICK GOLD CORPBARRICK GOLD CORPBARRICK GOLD CORP

BARRICK GOLD CORP

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ABR trade ideas

Barrick Gold falling wedge & supported by mid-term trend lineMacro environment: With Fed continuing to print money, inflation is no longer transitory. Without a clear timeline for taper, gold will present opportunities for hedge. Even if interest rates are raised, market turmoil should also be good for safe havens like gold Technical Analysis: Previous 2x Falling wedges resulted in a price rebound within the trend channel and this 3rd falling wedge should not be any different. Long term, GOLD is also on an uptrend, i see very little downside.
NYSE:GOLDLong
by paulmaichie
My JB MA CHANNEL INDICATORWe all know that moving averages, in particular, moving averages of closing prices tend to be highly inaccurate indicators and frequently miss major tops and bottoms. In backtesting, they tend to be accurate some 30 to 40% of the time which is to my way of thinking unacceptable. On the contrary moving averages of opens versus closes for highs versus lows, when used properly avoid the drawbacks of closing moving averages, particularly when combined with a trigger. Shown above is my moving average channel method which uses the 57 SMA of Williams accumulation distribution as a setup or trigger. As shown by the arrows two consecutive price bars completely below the MA channel low and triggered by Williams below SMA constitutes a sell signal. Conversely, two consecutive price bars or more above the moving average channel high accompanied by Williams above its moving average constitutes a sell trigger. The moving average channel high, the red line is a 10 period Moving average of highs. The Moving average channel low, the green line is an 8 period Moving average of the low. There are at least a dozen applications of this methodology including its ability to spot trend changes, support, resistance, swing trades, market strength, market weakness, and more. I will post some of these additional uses of the moving average channel as they present themselves. Do note that in this chart there were two instances above the moving average channel high but these were not triggered by Williams AD and therefore the trend remains down for the duration of this chart. The methodology associated with my MAC is completely rules-based and works in any timeframe. Thank you my friend Larry Williams for developing your excellent version of accumulation distribution. Thank you Dan Wall here on TV for your brilliant coding of my work. Jake Bernstein (RBT rules-based trader) www.jakebernstein.com PS to see the MAC in a bull market take a look at a daily chart of Netflix (NFLX)
NYSE:GOLD
by rulesbasedtrader
American Barrick (Gold:NYSE) ....(My Game Plan) I am looking at a American Barrick (GOLD) purchase opportunity on weakness at slightly lower levels. My trigger level is a PRZ (Price Reversal Zone) from approx $16.90 to $15.90 which would satisfy the completion of a bearish Crab pattern and the initiation of the final leg of Cypher pattern whose price objectiveiisi around the $27 level. If things fully work out, and they rarely all do, this idea thus carries a 10:1 reward ratio. Now you have to like gold in general and gold shares in particular to even consider this trade. Barrick's price momentum seems extended and subject to weakness. Barrick recently increased their dividend and one should expect more as major gold companies are experiencing major free cash flow surpluses. 2 points to consider in the shorter term: 1) We have a small gap above here which may be filled and 2)the completion of an ABCD leg may draw in some bottom feeders. If we take out the dotted blue line I may have to reevaluate my thinking. This is a 4 hour chart. Watch the broad market, the Gold price and the GDX for further directional clues. As always this is not investment advice and do your own due diligence on any positions. We are coming into a period of characteristically rapid turmoil so don't be married to any position or view and be nimble. If in doubt... stand aside !! Good Luck S.
NYSE:GOLDLong
by Steve666
1
GOLD swing trade GOLD *MAY* go up as the market corrects, because some people may start to shuffle money around. There are two concepts behind this trade for me. On the interim, its a speculative play, based on potential correction in the overall market, bringing gold stocks up a bit, which I would benefit from. Otherwise, ABX (Canadian) and GOLD (US) both representing Barrick Gold corp are trading at the lowest they had in one year. The price, is quiet attractive, even as a long term hold. For this trade, I am not setting a stop loss. As a matter of fact, I will accumulate at key levels of support at the stocks come down. The idea is that one day some day, circumstances will be such that gold prices and stocks will get me a return. 2 things to note 1) accumulation strategy requires the ability to average down numerous times, so keep initial positions small so you can be liquid. For me, i'm starting with a small position which allows me to accumulate aggressively in the future. 2) Gold is not what it once was, sadly because of bitcoin and other types of currency. There is too much to bet on, and gold is not that "safe heaven" it once was according to some investors. Either way, Barrick is trading well below avg analyst value. I am making the exception to accumulate on this one.
NYSE:GOLDLong
by tsx_trader