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Short

Long or Short? Let`s straddle!

COMEX:GC1!   Gold Futures
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Logterm: Long
Shortterm: perhaps short

The longterms pattern - the bullish flag - sounds the bell for the next round - and is still valid! Trading above the illustrated flags upper edge will open the TP @ 1402$. The flag pattern is as long valid as XAU is not trading below 1195$.
If you are an anticyclical shortterm trader, a shortposition at the actual level is thinkable - TP could be the uptrends bottom edge at 1240$ and the flag bodys bottom at 1200$
In my chart i have illustrated both positions.

former analysis:
LONG AGAIN? https://www.tradingview.com/chart/GC1%21...
IMO the correction we see this moment has just a shortterm consolidating character. The consolidation down to 1270$ was just the minimum correction of the last upmove (1228-1301)..we hitted the 38,2 fibo-retracement. If xau will not trade below the 0,5 fibo respective 61,8% i exspect new Highs, because i clearly see the bullish flag pattern with TP @ 1420 . Additional, i see a clear 1-2-3-long Setup...

Update:
Adjustment of the origin flag


GOLD WITH BULLISH FLAG AND 1-2-3-BREAKOUT CHANCE?
https://www.tradingview.com/chart/GC1%21...
Gold-0.46% on it s way up or will the consolidation go on?

Former Analysis:
Double Bottom or new selling Signal?
XAU is near it s former low at 1.071$ .
With Prices below that Level, the downtrend will perhaps tighten with the tp, mentioneds in my former Analysis (TP from the flag) at 1.035$.
Could the Level at 1.070$ be defendet, xau has the Chance to develop a double bottom . Fiorst target (minimal target) of that Formation would be the 38,2 fibo at 1.116$
Will XAU break it s resistance ?
The resistance Zone is characterized through the sma200 and the old supporting trendline which turned into resistance.
If xau can trade above this Level @ 1175 the next tp can be 1210$.
If the resistance could not beaten, a new downswing can be exspected. The tp of this downswing could be 1125

PERFECT TIMING MINIMAL TARGET @ 1.125$ REACHED
https://www.tradingview.com/chart/GC1%21...
Trade ist aktiv: Fictive Longterm Position triggered
Kommentar: Flag-Move in full swing...
Kommentar: nearly reached TP...
Example for an Initial SL. I chosed a Level near below the 61,8 fibo-retracement of the latest upmove. Here is defined the Maximum correction Level of that move.
Antworten
marihuana-aktien marihuana-aktien
preferred Szenario is a dip to the 38,2 fibo @ 1.273 or a touch of the breakout Level @1.290. Perhaps the overshooting will go a bit further - this is the illustrated blue line
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