Resurrecting this thread :-) ,to continue with analysis and different point of views of discussion on GOLD !
Seems like a nice bounce of again of 23 FIB .. target 1185 - SL 1235
A break above 1256 may open the door to test 1320 ,the key support hovering around 1189 for - Bull/Bear for this month .i am buying with stop just below 1189
Even for Daily , anticipate another test of the downward trendline broken.. and then go up ( 1270-80) seems to be forming a nice confluencing factor...
Best case go till 1270-80 range rebound till 1207 , test out 1190 , rebound off the sloping triangle now and target 1302 ...
If not 1230 test will prove the next course of action
Happy week traders! A break above 1256 may open the door to test 1320 ,the key support hovering around 1189 for - Bull/Bear for
this month .i am buying with stop just below 1189 {image}
Even for Daily , anticipate another test of the downward trendline broken.. and then go up ( 1270-80) seems to be forming a nice confluencing factor... Best case go till 1270-80 range rebound till 1207 , test out 1190 , rebound off the sloping triangle now and target 1302 ... If not 1230 test will prove the next course of action {quote} {image}
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Lets see what may happen ,about me i see a full bull candle on $Gold . just opinion
True , it is showing signs that it want to go bull ....:-) , the two doji bars already could be considered as a test of the break out downward line already.. , but i think a stronger test will help it to move up across quickly ;-) . let us see how the week unfolds.
True , it is showing signs that it want to go bull ....:-) , the two doji bars already could be considered as a test of the break out downward line already.. , but i think a stronger test will help it to move up across quickly ;-) . let us see how the week unfolds. All the best! {quote}
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All the best for you Pro
Just some "Feeling" + with my setup + fundamental give some signs that Gold now on bullish train ( short-term ) , Why not to hit a new yearly high before another selling wave .. thanks .
The sign last week was EURUSD hit new lows but Gold ignore that and closed above 1210 . any way lets trade carefully.
Even for Daily , anticipate another test of the downward trendline broken.. and then go up ( 1270-80) seems to be forming a nice confluencing factor... Best case go till 1270-80 range rebound till 1207 , test out 1190 , rebound off the sloping triangle now and target 1302 ... If not 1230 test will prove the next course of action {quote} {image}
Tried to approach Speedster ( the thread owner approach) in this anticipation , did not reach 1202 but 1207 is a reasonable run from 1215 and that too after a "pin-bar" ish type Price action..
Hope Speedster is still on and share bunch of other tricks ;-)
Find a similar pattern to go down on US open .. MACD turning bearish Target 1202... Alternate scenario will be bouncing of MACD On Zero and test of 1224. Anticipate first scenario ... let us see... {image}
Seems the bottom is holding ... should see nice test of 1219-1222 at or little after US open ... Please feel free to post any other type of analysis or method ! the more we share the more we learn ...
Seems the bottom is holding ... should see nice test of 1219-1222 at or little after US open ... Please feel free to post any other type of analysis or method ! the more we share the more we learn ... {image}
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I'd like to see another test below 1200 and see if stronger buyers appear.
I'm still inclined to buy some dips, but right now its too high based on the last dip
Fundamental Question...
In reviewing the charts, I notice that it was in August of 2011 that Gold and Silver to plummet and the US Dollar to skyrocket.
What occurred in August of 2011 to cause this?
Thank You
