gold - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...6DjufyRRpi6LcOARI%3D

i think while below 1920....a possible drop to 1750 area imvho...

short term bearish on Gold....it should make new highs....as this consolidation looks like a bull flag imho.

atb, wdik,dyor,
trendfriend

Could this prediction play out:

chartsview.co.uk/indices-markets/234-gold/reply/16433#16426

Bloomberg did a good article on this view today:

www.bloomberg.com/news/articles/2020-03-...-2008-all-over-again

its still battling with the 200ema....a finish below is needed for lower prices

Gold has broken the 200ema and recently back tested the trend line.
looks like going down big time

Gold getting smashed (again).

Could be more unwinding, for people to free up some cash perhaps?

Now, this isn't strictly Technical Analysis, but we might have seen this before during the 2007-2009 financial crisis, where gold did rise, then fall, then rise again.... (I've attached a monthly chart - with the arrows to help better describe what I'm seeing - which could be completely wrong of course!)

I think IG is probably one of the better company to use imvho...
As it's financially strong and your Monet deposited is safe....

However these are tough markets to trade....and very high risk...
So in my humble opinion its important to be sensible, with position size and trade management...
if one's trade is the size of the pot....that imvho...is not a trade but a gamble...and just hoping...and not righ...but as always wdik...

i think Cash would be far better invested in stocks towards the end of the dip...and held mid/long term...much lower risk and more chance of making a good profit...

Just my 2 cents...some of the wiser guys here...may well see it differently...but good luck with whatever you trade

atb,
trendfriend

Apologies for the off topic question? Thought I’d ask the question as it been mentioned in this thread

I’ve only just got back into investing again, largely due to the volatility in the markets.

Which platform do you experienced traders use to execute your trades.

This is a question that has possibly been asked before.

I like IG for it’s charting capabilities, and I use it to execute CFD long positions. Is IG not liked amongst traders here?

If so so, and what’s the better options?

Thanks
All responses v.much appreciated

I closed my short on the gold at the 200 ma yesterday and went long....hopefully will bounce big now...fingers crossed..

Great post Libero....
You have to beat the dow and IG markets to win....never going to be easy....odds are always against you...hence why 70 or so % loose....

I don't like trading indices either tbh...but get tempted now and again....when big moves are happening...

These companies are really sneaky....my Daughter at University was asking me about trading....after a s/b-cfd company done a pitch/presentation at the Uni...

How can they be allowed to target students...when most of them will be on student loans!
shocking imvho...

atb, wdik, dyor,
trendfriend

remo wrote:
I honestly believe that your trade might have been the correct one, just a mixture of volatility and a rather tight stop could have ruined it!

I'm watching from the sidelines... Did I believe the dow would crash (as would the FTSE and just about anything else)? YES!

Did I make huge gains from it? NO!

The swings are just mad - and these bookies know what they are doing. You could have the perfect plan, but if the goal posts are shifted (artificial points, super wide spreads), and maybe even removing the goal posts (telephone or "X" icons), then what chance to do we have?


I did once wonder, if i had a choice, between getting a million quid, or seeing IG and the like go bust, which option will I take?

I'd rather they bust than get a million quid - because them going bust (along with betting firms) would give joy and good mental health to millions of people!

(but that might be just me, so I'll go back to work - suffice to say, I'm enjoying the ChartsView revival!)

Fake breakout....already closed.....dam...
Gonna short now....lol...proberbly go the other way now

Possible 123 low formation on the hourly chart for gold....just broke so went long..
Stops below 2 point,
So at 1577

any views on gold?

sorry....
posted on wrong thread...

Gold has a diamond pattern which is a topping and very rare pattern so looks like it will correct ...You can see this on the hourly chart so a day trading signal...
I’m short with a stop of around 10 points currently....

Pure Speculation - However - My Game Plan
Thinking we might soon see a small counter trend rally around here in US / UK markets?
Conversely maybe a pull back in Gold into April to gather some strength?
Then plan to load up on Gold Funds into the year end - bank any gains and then hope for the mother of all Santa Clause Rally's in US / UK markets

Is that a double top in Gold for now? Was looking for a pull back to around 1540?

And gold tumbled...lol

And this just broke to the downside on the 15 min chart...lol.....moved fast as well....



I was hoping this would go up quickly and not down...guess the resistance is strong here...
Hopefully will try again soon....and break out

Gold has been a great trade due to corona virus,
On t(e 15 min chart there a flag pattern which is a continuation pattern and this is right near resistance so proper battle going on there.

Gold- trendlines




Gold with Fibonacci





When market sentiment turn's negative gold rises, when the market hits capitulation it falls!

Today gold has tested 50% fib from the January breakout, 1545 support around 61.8% fib then 1450

Gold has broken out...Looks like safety is the key going ahead

It didn't go all the way where i wanted to, it did equal legs and up she goes now as broken out of bull flag, targeting recent high at 1557 or even higher, long term target remains at 1700 so fingers crossed

There is H&S on gold atm with target at 1416 which is also next to 50% fin line of recent rally, 1530 target has been hit but long term there is another one at 1700. So this retracment can be a chance to go long again or like me gamble little bit and go short

clearly broken above a long term pivot resistance level.....which looks to be the momentum trigger which the sharp rally...

i think keep a watch at the price action in 2012.....seems to be another pivot level there at around 1550 (ish) area...

atb, wdik, dyor,
trendfriend

Very interesting chart made by some ewt people, with even higher target, definitly worth going long if it retreaces to the brake out point at 1370

yeah, i'm long here, one from 1300 one at 1345 and one at 1350, so happy to see its flying, it went through all resistances i've had, so the next one i'm targeting in short term is 1430, i'm long on silver as well but that was a gamble trade, just because i tought gold up then maybe sillver as well, happy days

well i hope you were long here MM!!

i think your right, from your chart it could be a c & h....or maybe a bull flag....

it was one of those 2 as its broken out strongly today...

the rsi may well be well overheated zone now...so maybe a bit of a p/b...then higher??

but wdik...

good luck..

atb, wdik, dyor,
trendfriend

Take this with pinch of salt please, because i don't have a clue what it is, and because its in triangle and in strange place, but it looks for me like a cup and handle formation with potential long term target around 1530

I'm looking at gold closely as it seem to be break ing out of this big triangle

Is gold at a crucial point?
If 1240 goes, then 1208?
Looks long term to 1125?

Ta
G

I'm good longterm, thanks.

me too mad busy at work, so been taking it easy on trading, especially cfd account, mostly just buying longs in actual sharedealing account.

Anyway Gold.
i agree, very bearish.
I was trying to point out the 50 day ema line, crossing down into the 200 day ema line.

Not sure if my chart was showing the correct data.
If it is correct thats a death cross

Major bearish crossover if its correct, maybe someone with Metastock charts can confirm it that crossover please??

atb, wdik
trendfriend

Trendfriend,

I'm well thank you. Hope your all good?

I see your still trading, I have been so busy lately, I haven't done any trading. I did say I was getting back into trading, then work went crazy!!

Didn't take the short.

I'm looking at gold for $1000, trying chart again.

Hi Longterm, hope your keeping good.

Yeah Randgold short was a no brainer, but i didn't take it on!! doh!!

Anyway gold, still more down imvho.
Maybe a small bounce around here, as the rsi is at 20/100 level.
Any rallies should be shorted.

The chart below(some candles missing on it, no idea why) is quite interesting atm.
the red circle, anyone, any ideas whats about to happen there??

atb, wdik
trendfriend

.

Gold chart won't attach correct.

Its right in the preview, but not when it goes online.

Trendfriend,

Did you short gold and RRS? It would have been a beauty,

Looks like gold is breaking down further, broken through 1200, weekly close below, and it opens up 1150,1100,1050 and ultimately 1000.

RRS is clinging onto a support line, as it gold.

Looking at Gold here.
I think this may have now made at a short to mid term top imvho.
Looks like a trendline break, and i think that's a h&s top.
With the rsi also breaking support, this could well move down towards the 200 day ema, off course lots of supports between those levels.

As long as this opens below 1345 tonight/tomorrow, i'm looking to short Gold, and quite possibly some Gold stocks as well, so lets see.

imvho, dyor, wdik
Trendfriend.

gold has broken out past strong resistance.


dl.dropboxusercontent.com/u/4899609/gold16thjune2016.png

if gold stays above this and in a few days time comes back and test the level then ill go long at the new support.

Closed at 1246 earlier this afternoon. Was looking for 1249 but just missed out.

Just gone long on gold with a stop just below today's low.

nice rsi div on the hourly as well, suggesting a possible rise, even if it's only short term bounce

wdik, dyor
Trendfriend

Nice trade Monkeyz!!

Watch RSI support from July, looks it tested it and held...
Maybe a good time to go long??

Yellen speech later could spike it either way thou... But I think the drop overdone....

Atb, wdik.
Trendfriend

Took my last short off the table at 1220. Had been looking for 1210 but its been a good run and the daily candles have made a little twitchy.

Will be interesting to see how today finishes.

Thanks Monkeyz....

i think you could well be correct, and nice trade...

Just taking a quick look earlier this am.....i think while bears are in control atm.... i see the trendline break around 1240(ish) being significant imho....

while its below that the low numbers are a real target.....however, i would not discount a possibility of this being a bear trap break below this trend channel, so if we get a weekly close back above $1240, it may well have the bulls back in control.....

lets see how this completes the week. i'll try and post chart later...

atb, dyor, wdik

Trendfriend.

Thanks TF.

I would prefer to see price hit the 1200 zone and I still have a short targeting 1210. I suspect if we get a daily close beneath the March lows c.1206 we may well see lower prices somewhere between the 50 & 61.8% retracement levels.



dl.dropboxusercontent.com/u/24866576/201...8%20Gold%20daily.png

It's interesting to note that on my FxPro Ctrader platform (great FX charting btw) it has some info showing 65% of clients are long, see the green bar above the two yellow arrows. On the basis that most folks are wrong then this will need to get more neutral / bearish before the next move up. The green target line is not mine but one of TradingCentral.

Interesting piece of the jigsaw alongside the US indicies at the moment.

All the best
M

Here's a link in case you can't find it - I like the way he annotates the charts, with 1-2-3 reversals and other indicators illustrating his analysis:
www.tradingview.com/chart/XAUUSD/1KquFpR...of-2nd-and-3rd-wave/

He has some very bearish views on gold throughout the summer months.

Have a quick look at tradingview.com and a poster on there called "chartwatchers". He's made some very good calls on gold recently.

Good call on Gold Monkeyz....

do you think $1190 200 day ema line is likley now??

i think $1190/1200 strong support...

but wdik.....
Trendfriend.

Yes, you could well be correct Monkeyz...

However, while this is above the trend line and above the 50 day ema line, a move up to the top of the channel at 1325 area is not only a good possibility, but highly likely imho........

Off course, i will add the caveat that a break and end of day close below the trendline, and 50 day line, should see a move down to 200 day ema line at $1190....the rsi has broken support, and that could be a indication of more downside....

I'm happy to stay long above the trendline and 50 day for now.....
lets see how this plays out this week.....

imho, dyor and wdik
Trendfriend.

Stay nimble with gold on the short term. Was close to closing my short at 1242 yesterday but just missed out. Would prefer to see more of a pullback / consolidation before going long just yet.



dl.dropboxusercontent.com/u/24866576/201...7%20Gold%20daily.png

Cheers
M