Hi Guys,
At the end of last week risks such as Brexit and US China deal faded but Gold didn't react as many were expecting.
Gold has been ranging between 1474 and 1480 since Mon. Two fake breakouts occurred on Wed and on Thu.
The 20BB tries to capture this week's range inside above levels.
If we consider that Gold reached 1550 with FED cutting rates I do not expect price to aim above in the short term, whilst I do favour an extension of the correction.
However ths is not happening despite improved climate in respect of Brexit and US China deal.
If you click & play above chart, price is not following narrative and formed what look likes a triple bottom whith higher lows pushing into resistance.
Why is Gold acting like that?
If you click & play the below chart you will note how Gold runs into resistance with bullish bias. Will it be rejected or will it manage to breach it? Will it consolidate above and keep running or will loose momentum and resume it's fall to extend the correction towards 1445?
Just for information please note that I've been working on this chart all week and posting snapshots in the chat. The majority of snapshots have been posted in the updates of previous idea too if you want to have a look at them.
For additional infos about Gold please refer 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.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
At the end of last week risks such as Brexit and US China deal faded but Gold didn't react as many were expecting.
Gold has been ranging between 1474 and 1480 since Mon. Two fake breakouts occurred on Wed and on Thu.
The 20BB tries to capture this week's range inside above levels.
If we consider that Gold reached 1550 with FED cutting rates I do not expect price to aim above in the short term, whilst I do favour an extension of the correction.
However ths is not happening despite improved climate in respect of Brexit and US China deal.
If you click & play above chart, price is not following narrative and formed what look likes a triple bottom whith higher lows pushing into resistance.
Why is Gold acting like that?
If you click & play the below chart you will note how Gold runs into resistance with bullish bias. Will it be rejected or will it manage to breach it? Will it consolidate above and keep running or will loose momentum and resume it's fall to extend the correction towards 1445?
Just for information please note that I've been working on this chart all week and posting snapshots in the chat. The majority of snapshots have been posted in the updates of previous idea too if you want to have a look at them.
For additional infos about Gold please refer 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.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
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