GLD_USD
Gold, Massive Bullish Cup and Handle pattern almost completeThe handle is almost completely formed. It is time to BUY. break out on high volume I would add to positions
GLD Inside Ascending Triangle. Upside Breakout Due..After a nice $200+ correction from the fresh all-time highs, Gold appears to be making a new triangle which could breakout to the upside by the end of this month/early-September. While spot gold did go lower which is not reflected in the GLD ETF, spot prices did not stay below $1900 for more then 4 hours which shows there is very STRONG demand under that price. Looking to go LONG again upon a confirmed upside breakout..
XAUUSD SHORT This candle in Hikani Ashi candles is a sign for selling and changing direction
Gold has no bullish momentum, but there is interest in buying and bears unite pressure in the sale, but there is no interest in continuing to sell.
good luck
Gold Long Position Update 19:32:31 (UTC) Wed Jun 10, 2020Gold Long Position Update 19:32:31 (UTC) Wed Jun 10, 2020
Long Opportunity in GLD? (2/2)Here is a scenario that would match the broader assets' bearish case.
The subminuette 2 in blue is incredibly short in time which is quite an issue.
We were expecting a flat within the yellow micro 2 but we are currently consolidating instead of dumping (to start subwave C of the flat).
Long Opportunity in GLD? (1/2)Here is a scenario that would match the broader assets' bearish case.
The subminuette 2 in blue is incredibly short in time which is an issue.
We were expecting a flat within the yellow micro 2 but we are currently consolidating instead of dumping (to start subwave C of the flat).
Gold to Test ATH Soon?With the unemployment rate being announced later this week I have been keeping an eye on the gold markets for clues on a direction. Expectations are that unemployment will increase substantially from the last reported 4.4% to levels that haven't been seen since the 1930's. However, the price of gold hasn't really "outperformed" during the Covid-19 pandemic when compared next to other asset classes which begs the question, will the unemployment numbers really matter?
Looking at the charts gold has been in consolidation since breaking out of the inverse head and shoulders on April 6th. Price has retested and been trading flat since April 14th. The chart below is of the SPDR Gold Trust ETF (GLD). Current support is 156.95 and is a must hold if more upside is to follow.
On the 4-hour chart above, I've highlighted how volume increased on the break of the inverse head and shoulders, and as price returned to retest support volume has settled nicely. MACD confirms this and is beginning to show potential strength in bullish momentum. If GLD breakout, targets should be set towards 174, which conveniently is nearly all-time high resistance.
How confident can we be on this trade? Below is the weekly chart of GDX, a Gold Miners ETF. Here, note the weekly retest of previous resistance at 31. How strong the support remains to be seen, but the strength on the gold miners is undeniable and reaffirms the gold trade to the upside.
Heading into the potentially historic unemployment announcement this Friday, it may be a safe bet to look into gold if you believe in the safe haven narrative. If you are a trader like me, GLD and GDX present opportunities to make 10-20% returns in a short period. Bias: Bullish .
DBL bottom on Barrick GOLD coupled with volume accumulationThis chart looks poised for an immediate parabolic surge; with DOW hitting session highs for the quarter (and breaking its ATH for the 6th or 7th time since last summer) my crystall ball reveals an impending sell-off; followed by a retracement & right now with what's going on in the amount of #crypto dumped we're looking at a retracement on BTCUSD (for those unfamiliar -- BTC & GLD seem to parallell each other inthat they are the goto assets for panicked investors during market uncertainty -- of which there has been nothing but lately) with EMA/50 day MACD/bollinger's all indicating a parabolic surge is due on this chart soon.
ALWAYS set your stop-losses first! So with that being said:
STOP @ $17.18
TP1 (SHORT 24-48 HRS): $18.18
TP2 (MID-- 72 hours): $18.75
TP2 (LONG) 09/20: $19.48
These timeframes are SHORTENED as this is EMA (closer to day trading) though not exactly.
With that being said; trade safely!
DISCLAIMER:
NOT FINANCIAL ADVISE!
TradingView/Twitter/LInkdeln/Stocktwits:
-@a1mtarabichi
Steemit :
-@crypt0w1zmt
Bull trap or legit? More down Gold Will Like THIS CHARTIs this recovery a bull trap? or are we still going to drop? If you say you know- hell maybe you do because I don't. All I know is Gold is Gold and could run if the price goes up lol.
XAUUSD (GOLD) Looking for Long.XAUUSD (GOLD) Looking for Long.
because Gold have a Support area with Fibo fan level of 0.5.
and also Gold have Support and Resistance area. and gold have Divergence area,
so it should be up.
