chartwatchers

chartwatchers Updated 

Taking a look on the weekly gold chart I have to say this doens't look really good.. 1. On Friday we printed a weekly key reversal candlestick. 2. Price is turning down violently from the down trendline. Normally these are important warning signs that price will head down. But... I still think that after that very very long previous intermediate cycle gold...

chartwatchers Updated 

Silver intermediate cycle bottomed with gold on the 30th November. Silver didn't have that serious decline at the end of the last intermediate cycle like gold. Notice that we were in a consolidation box for 4 months and today we broke out. Is it too late to enter the party? No. We are still early in this game and I think silver will run to 42 and maybe to 50...

chartwatchers Updated 

This is going to be a short update as we are nearing to the oversold conditions what I wanted to see. We just tagged the 50 SMA on the daily chart and RSI is near to oversold. I'm quite sure we are going to close above the 100 SMA today or Monday. This is the point where I add to the long positions or you can start a new long position. We can assume the 25 day...

chartwatchers Updated 

This idea is not a call. It just shows a possible scenario for those who missed my Dec.4. call - so They can enter a long position- or for those traders who entered but want to add to an existing position. Two days before Santa I called the intermediate bottom in this idea: Now I'm starting to see many analysts who are calling for an unlimited rally in gold...

chartwatchers Updated 

The multi year trendline was broken this summer . The drop broke below 69 at the end of August. On the daily chart I was waiting for the tag of the 200 SMA it never happened though. That's why I suggested to short silver this autumn. But XAUXAG was so week in the previous 4 months that it was only able to back test the multi year trendline and the 200 SMA on...

chartwatchers Updated 

At the end of August I was starting to call the top of the previous intermediate cycle at in 3 ideas: I was waiting for the tag of the 200SMA on the daily chart. My minimum target for the decline was the 50% FIBO retracement at 1763$: I was waiting for a more severe panic selling, but we need to trade what we got. The intermediate cycle lasted for...

chartwatchers Updated 

There was many possible trigger event for gold to break down from the flag this week : Powel's speech, FED minutes, Trump's tweet In the previous daily idea I posted what my expectation was in gold. Price bounced from the 100 SMA on the daily chart . The length of the flag was important. I said if we spend days (1-2 weeks ) of back testing the breakdown...

chartwatchers Updated 

Silver is not an easy market. It depends of many factors. Precious metal so most of the time follows gold. Industrial metal so it follows stocks as well. And as most assets the dollar determines its movement. Right now I think the significant part of silver damage in this intermediate decline is done. The decline started at 30$ and it dropped down to 22$. It was...

chartwatchers Updated 

This is not the best setup , I'm not going to trade this because right now there are much better possibilities on the market. The 2 reasons it's worth taking a shot : 1. 200 SMA 2. Time wise we are arriving into the timing band of the possible ICL decline. After the severe declines the 200 SMA acted as an important resistance many times I used it in a few...

chartwatchers Updated 

The answer for the title question is no. The decline is not over yet. Gold is in a bull market : the intermediate cycle lows are printing higher lows and the IC tops are showing higher highs. Right now I'm shorting the last part of this year's intermediate cycle's end . This intermediate cycle started in 2020 March. Gold's intermediate cycles usually last for...

chartwatchers

Weekly overview. Sometimes it's important to take a look at the weekly charts so we don't lose sight of the big picture. The most important thing you need to know about gold these days and in 2020-2021: " You know it's a bull market." Gold is in a bull market since 2015 December. Even in the basing process it was printing higher lows : In a bull market...

chartwatchers Updated 

If you read the chat you might see a comment many times I doubled , tripled etc.. my account. Is this possible? Are these guys are telling the truth or just shooting the line? Yes. It's possible. You might multiple your account 2x, 3x, 5x, and even 10x in a relatively short period of time. The secret is that you need to trade and build a position during an ICL...

chartwatchers Updated 

2 days ago we printed a very strong reversal candlestick : a key reversal pattern. Yesterday we had a follow through with a red candle and today the selling accelerates as we broke below the 10 SMA. The dip buyers are coming back again and again as they missed most of the move since 1700... They are buying at the 10 SMA and now they are buying the backtest of...

chartwatchers Updated 

I see a special topping candlestick pattern evolving on the daily chart. Yesterday we printed a hanging man and today we broke to new highs. When the daily cycle is topping you can find very often the hanging man - shooting star combo at the top. Today's candle can easily turn out to be a shooting star. The hanging man shows that the selling interest started to...

chartwatchers Updated 

Target price tagged at 1.18. When everybody is buying I'm here to sell. In this idea I explained what happened to the dollar: The monthly chart also suggests EurUsd will take a breather before breaking the trendline. Target is the test of 1.15 in a month.

chartwatchers Updated 

This is going to be an interesting idea. The XAUXAG ratio dropped to a multi year support at 81. Actually this is a 6 year - multiyear - support line. It's way too stretched below every moving average, printed a bollinger band crash signal. I'm waiting for at least of the tag of the 10 MA and maybe we backtest the cross of the 100 MA and the 50 MA. ...

chartwatchers Updated 

This idea explains where I try to enter an EurUsd short position next week. I'm not trading the currencies too much because this market became the World's central banks playground in the last 10 years. They print, intervene and steal money from people to their liking. It doesn't mean I'm not watching these markets though. A few great opportunities are forming in...

chartwatchers Updated 

Before trading this idea you need to read and understand this idea : I suggest to take this trade only with a XAUUSD long trade with the same margin impact as your XAGUSD short. This is the only way to minimalize the risk of shorting silver.