XAUUSD - Ascending broadening Wedge GOLD is hitting long term support now. Contained within a ascending broadening wedge.
Gdxx
GDX: Pushing for dem Lows! 🥸🥸🥸The GDX ist moving downwards again, which is the primary direction we are expecting this market to develop. With this turnaround, an alternative surge is now neutralized and we now need to wait for the course to reach the area around $22.51, where we expect the next turnarund - but this time to aim for rising prices. It remains important here that the course does not drop below $16.18.
Have a great start to the week!
Gold (AUD) daily - Hopefully we have hit a bottom.Gold (AUD) daily - Hopefully we have hit a bottom.
Bullish divergent RSIs.
GOLD - Cup and Handle formation. Very Bullish!GOLD - Cup and Handle formation. Very Bullish!
For shorter term, yellow channel range bound. Breakout likely to the upside.
Gold (AUD)- Similarity of post-2008 GFC to Post Covid-19Gold (AUD)- Similarity of post-2008 GFC to Post Covid-19
Post crisis stimulus and slashing of interest rates, provides a tail wind to Gold.
Gold (USD)- Bulish falling wedgeGold (USD)- Bullish falling wedge.
68% of eventual upward breakout from falling wedge.
For further details, please see below link:
thepatternsite.com
Updated- GOLD (AUD) daily chart. Still in UpTrend for now. Updated- GOLD (AUD) daily chart. Still in UpTrend for now.
💛GDX shows bearish divergence - good idea to take some profit?GDX like gold is looking to break out to the moon, but is that party going to be put on hold for now?
Both Gold and the GDX are showing some bearish divergence (shown in chart), they are moving higher in price on lower momentum. In fact most indexes are showing this, not just the gold market.
We are going to need a lot of rocket fuel to get to $47 for GDX and $1900+ for gold, so I'd like to see more momentum not less/.
TSLA is up 36% in the last 5 days with many tech stocks up 10%+, if momentum runs out of steam for these tech stocks, it mqy impact on the entire market, resulting in one last shake out in the GDX before going higher.
I would not short here but it's a great time to take some profits, most of the ideas for the GDX is to buy, another signal to me that a shake out in July/August may be on the cards.
I'll be adding to the GDX for longs if we hit the $32-$28 area for sure.
Gold (USD) daily- $1,800 and $1,923 target levels.Gold (USD) daily- $1,800 and $1,923 target levels.
GDX - IMPENDING DOOM!!We can see from this chart that price is ready to drop!
It has hit a key level of support and bounced off, it has tested this area several times before going higher each time.
The last time this level was broken it was a freefall to the bottom.. The next time the drop may be even greater!!
Get the sell stops in!
Gold (GBP) daily- Up Channel, within Upchannel. Gold (GBP) daily- Up Channel, within Upchannel.
Futher deatils about Up and Down channels:
thepatternsite.com
Gold (AUD) daily- Ascendin' Broadenin' Wedge(ABW) inside anotherGold (AUD) daily- Ascendin' Broadenin' Wedge(ABW) inside another ABW!
Gold (USD) daily- Ascendening Broadening Wedge Gold (USD) daily- Ascendening Broadening Wedge (ABW). A real possibility of reaching for the bottom of the ABW trading range.
Gold (AUD) daily- Clear breakout from Ascendin' Broaden' WedgeGold (AUD) daily- Clear downward breakout from Ascending' Broadening Wedge (ABW). Price target is horizontal red line. Temporary relief at purple UpTrend line.
Regarding the 52% of ABW that break out downwards. 81% of those act as Reversals of the prevailing trend- Thomas Bulkowski.
thepatternsite.com
