Gold

The difference between a currency contolled by a country and a world wide commododity shouldnt need explaining. Rightly or wrongly (some what irrationally) gold is still what we run to in times of uncertainty.

Even better, unbiased opinion!!

The CONTEXT of this trade was that the trend was BULLISH, trending UP - You can confirm that by price action, higher highs, higher lows and a timid correction/breather - "IF" the trend was to continue, then price would go higher

You can either buy the breakout of the swing high or you can try to get in on the bar that creates the cycle BOTTOM

As I don't pick these daily signals up until end of day, you have to trade the break of the high of the low day

The RSI's are the key - I don't use the MACD, but it supported the bullish view as it was above the 0 line, the STOCH also signalled a possible cycle low (often does this when OS) and I don't use the Williams %R

this screen shot was taken months back and used to show how momentum Indicators can be used to highlight price CYCLE lows/highs

But you have to use them within context - the context here was the strength of the trends - timid flat trending and you'll get bad signals

This was a 100% picture perfect set-up with the 2RSI and 15RSI leading for a price reversal

The Entry is just above the cycle low bar and the stop is just below it - you can if you like add some "wiggle" room into the range of risk, but I rarely do

Looks like it wants to pop to me

Target for the pattern has been hit.

Common market give us a +100 point spike, stay there just long enough for us all to flip & then let’s get down to 2180 quick smart lol

It means no drop, only up to 2500+?

such a simple request...

GOLD WEEKLY

We can use the Indicator to warn us of potential cycle LOWS, then we can formulate some sort of plan to trade long - Note that in certain market conditions the Indicator FAILS to reach the oversold line and in other market conditions the Indicator works but the cycle low is lack lustre - you need to work out the market condition to trade it correctly

I've marked on the chart the times when the bottom Indicator was oversold or in the buy zone - whether this was the actual low or a temporary low is not the Indicators job, thats the job of working out what context the market is in or working through - BUT in the RIGHT market context/conditions, you can use it to alert you to cycle lows/highs

The Indicator is a double smoothed Stochastic using Fib numbers as the look back periods



You can use the Indictor to confirm bull/bear trends - notice that it never gets close to the oversold zone during a good bull run, if the SMA's are in proper order and the Indicator line is point UP, its a big green light for finding pullbacks to the weekly trend on lower time frames to exploit or for simplicity, just trade the weekly bar if its narrow enough on a pullback using the normal Stoch Indicator

If markets were random, these Indicators would be flicking up and down all over the place, as price moves to cycles, you use the Indicator as a cycle timer and if you are counting bars (L-L/H-H/L-H or H-l) etc, then you might find some patterns in TIME that the market is working too and when that happens with your Indicator of choice set properly to the price cycles on your time-frame, then when time and price cycle come together with an Indicator signalling a high or low then its a pretty big signal of a possible reversal

Trade them blindly without thought and you're destined to join all the Indicator junkies who misuse them, trade them with a plan and you might do pretty well

That was only the target for the pattern.
If this H4 candle rejects this area we can still have 2418 before 2508.

worth a try

Let's see what candlesticks we get here H1.

I see that coming and will be fast

The reason i'll be working 1d principal chart entries 1h aline with day .
I'm not full time trader .
There is lot of pairs and even stocks to see one will be clear with the analises .
100% year will be good for me .

Hahaha

Is really no one here trading the Silver? I mean it's more volatile than the Gold (I see that this is the Gold thread, but still...).

Gold looks will make new all time high soon

Silver will fall now

This is how it's going to happen (probably not haha ). So, the news will come out during the weekend, so the stock market doesn't drop. On Monday Gold will crash through the 2500$. Then, the mainstream media will start babbling about the Gold breaking 2500$ and the Gold will be put in a spotlight. Then, the price will not drop immediately, because they need to convince the people that Gold is about to fly to 3000$. Once enough money is being shoved into the wagons of "the train towards 3000$", then the price of the Gold will start tanking. Of course, the Powell will be "hawkish" and that's the reason why the price of the Gold dropped 300$ (in time, not all of the sudden).

LoL