it was on Aug.12 when I posted the following chart and Gold was at 1495 running into 1560: Fear of tariffs and worries over deterioration of US-China negotiations drove that run.
Today those worries are creeping in again at 1445, and this is what stopped Gold at B.
As far as the main Daily Chart of this post is concerned, to note that from 2 price commenced a correction inside a TR with the shape of a flag with lower point at B (1445), retracing 0.382 fibo of the Bull Run (1->2).
Click & Play the followings to watch how price moves compared to structures:
Questions: 1) Can the retracement of bull run (1-2) be extended into 200SMA? 2) If yes, how why and when? 3) Can the pullback from B be extended? 4) If yes, how why and when? 3) Disregarding directions, where are the opportunities?
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your 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.
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The same B that can be found in Gold, can also be found in Silver
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why is Gold Y before Silver Y?
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adding moving averages
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From Nov.12th (Tue) to Nov.18th (Mon) 4/5 working days
@ferrarigold a run into 1478 and a dive to break 1460 is a possibility. Nobody said officially and formally that US-China Trade Deal is off for December. China is inviting US to Beijing for talks but no news on this front at the moment. Be ready for anything because news on the subject is what is moving markets right now IMHO. Good luck.
https://ttps://www.tradingview.com/x/kYgC6FR9/