GC
Gold - Buying dips to the cloudTrade Idea
3 consecutive negative sessions have been posted.
The medium term bias remains bullish.
Current prices have reacted from a high of 1555, however, we expect further gains to follow.
Sentiment remains positive despite the pull-back lower in prices.
Preferred trade is to buy on dips.
We look to Buy at 1510
Stop: 1500
Target 1: 1540
Target 2: 1555
Gold to Silver R retesting multy-year H&S's NecklineBetting on laggards is like hoping to get drunk by being late to the party.
Gold is about to usher in a big dropGold will usher in a sharp fall in the next three months, falling to 1333-1390. In addition, cftc's speculative longs are already crowded.
JDST vs JNUG vs GOLD Weekly Log LineGold's 6 year long backtest is nearing an end. JNUG/JDST likely to reverse and reconverge at mean.
GOLD Daily Linear Scale Line ChartSimple study highlighting 4 year long ascending channel. Price currently at top of channel. Indicators converging at top.
45 Year 2M Linear Gold StudyThis has all the earmarks of a backtest. Should history repeat it is destined to fail.
Gap Fill HypothesisSince gold likes to fill all the gaps before breaking out. That's what happened for the previous breakouts too. White Circle on the Charts, would be the gaps that I'm talking about.
Gap Fill Hypothesis: 1454 ---> 1449.3 ---> 1435.2 ---> 1423 ---> 1418.9 ---> 1416.7 ---> 1460; Look on 5 minutes chart. Couldn't post a 5 min chart on tradingview. Gold gapped filled 1454 today = making a double top at 1460 resistance.
~
{ Short Entry }
Entry: Sunday's Opening, Short ( 1452.5 )
Stop Loss: 1460, Risk: $750
PT: 1416.7, Reward: 3600$ | 1:5 |
~
{ Long Entry }
Entry: Gap Fill, Long ( 1416.7 )
Stop Loss: 1393, Risk: $2370
PT: 1460-1480, Reward: $4330-6330 | 1:2 or 1:3 |
Overall Trend is Bullish since it's above 1400.
GBPCAD LONG IDEAUpvote if you like the idea, thank you
1st TP: 1.6056
2nd TP: 1.61350
2nd buy order below if lacking confdence
Enjoy
Gold Against the TrendIf the price stops below 1429, I’ll open a short against the trend.
Need consolidation below the level for 6-8 hours to open short.
All long scenarios are relevant.
GC Outlook After reviewing the chart for GC Futures, I believe there is prospect to the long-side. Based on the way I frame the markets, I would need to see a break (failure) of the opposing 61.8% level at around 1600 and then see a measured move long at a 50% level. Obviously smaller time-frames would need to confirm this at the time to be able to enter into any trade. Targets are denoted on the chart if the conditions become true.
I do not post entries, exits etc on my charts because I believe each and every one of you will have a different way of entering into a market and exiting or managing positions. I have my own way of entering into trades and managing trades, and my techniques are rather different to most.
Anyway, I have a long bias for Gold based on the longer-term outlook. That is not to say there will not be day-trading opportunities on either direction in the mean time. If the longer-term conditions do play out, Gold could be seeing a break of all time highs in time :).
Pennant - Thoughts on road ahead for gold?Possible long trade to 1478-1523 area.
We seem to currently be at the pivotal moment for gold.
Either a breakdown or continuation will happen, depending on market sentiment, inflation and the Fed's decisions.
My thoughts:
If inflation picks up, gold is a popular hedge against it. This could mean gold prices move up.
However, higher inflation lowers expectations of a rate cut. If there is no rate cut, gold is less attractive.
Gold performs well if there is fears of a recession and a stock market crash. Fed chair Powell is hinting that a preventative rate cut could be on the table in July, lowering fears of a recession.
I think expectations about the Fed's decision are more important for gold than inflation itself, meaning if inflation picks up the lowered expectations for a cut would outweigh the inflation hedge argument, sending gold lower.
Since the Fed is hinting at a rate cut, I favor the bullish argument in the shorter term.
In the longer term, stronger economic growth and a rising stock market following the cut could encourage risk-on sentiment, sending gold lower again.
What do you guys think?
I would love to hear your thoughts on gold going forward, so please leave a comment and contribute to the discussion!
Gold - great upside potential?XAUUSD is still inside a major upswing that is currently consolidating above the Median Line of the upsloping fork + above the recent tops of a range, that was broken up a few weeks ago. The stall above the ML gives us a decent entry with a great R2R ratio, with the stop being below the ML and recent tops in case of a overshoot/backtest.
Trade is Long Gold cmp (1387)
Stop Loss: 1353
TP: 1528
One should never risk more than 4% of his/her account.
Thread carefully,
Nick
Gold is touching the upper channel and supply zone
Gold is touching the upper channel
Previously, in the period 8/2013, we also saw that this is the supply area
At the moment most of them have taken profits and we should observe the reaction price here
Don't just go to market and buy/sell everywhere :)
Gold SELLOFF to come soonFriday, June 7th, 2019 - Everyone is thinking GOLD has entered a new BULL market - It hasn't - and as a matter of fact, I believe the selloff will begin next week - Watch for a daily candlestick pattern to confirm top -
GOLD: some info (potential SHS)Hi Guys,
following my post dated 14 May 2019 Gold was rejected at 1300 but was supported one more time by the longer SMA (620).
The rejection at 1300 marked a lower high compared to previous highs within the correction.
The 3 black S on the orange SMA diverge slightly with RSI but imho divergence not steep enough to prompt a pullback above 1300. Since RSI entered negative territory Gold has yet to be oversold therefore I am still favouring a continuation of the correction towards 0.618 Fibonacci of previous uptrend from A to B before a pullback may occur.
Please note the potential Head & Shoulders pattern (SHS in red).
For reference about how to trade the Head and Shuolders pattern please search in Google or visit the following link provided by Investopedia.
www.investopedia.com
If Gold breaks above 2nd red S it may be the start of the pullback towards H and maybe beyond.
For additional information about Gold please refer to the related ideas linked at the end of this post.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
GOLD: focusing on the 4H chart (and triple S)Hi Guys,
following my previous post please find above 4H chart focusing on the triple S support before the pullback at the end of week17.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
$GOLD busy breaking out this wedge - target $1360Gold has spent the better part of 2019 consolidating last years gains in the form of a bullish wedge. This break above $1290 looks legit today and could see the gold price move back to the major resistance level at $1360.
GOLD: some info (D)Hi Guys,
Here a link to Investopedia definition of Cup & Handle:
www.investopedia.com
There are many more on the web.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Golden WedgieGold futures broke below support, appears to be forming a wedgie.
Expecting a bounce if it hits the bottom trendline or if it breaks the upper one. Probably a backtest of support.
Long term it's forming a 2 year pennant. Do not expect it to double bottom.
