cozzamara

Gold: there is a divergence

TVC:GOLD   GOLD CFD's (US$ / OZ)
Hi Guys,

the above chart is providing a structure within the context of SPX and US-China trade deal.

Gold pulling back following Reuters' news

Following what happened in the last few days based on growing optimism iro US-China trade deal, here is the link to an article published by Reuters today on the subject. (https://www.reuters.com/article/us-usa-c...)

The vertical grey line is when I posted the same chart yesterday morning. If you click & play the following, you will end up looking at the same structure.

To note: RSI lows are in divergence with 3 to b. RSI makes a low higher then b right when Trump tells to journalist that he had not agreed to roll back tariffs.

Technically the short term structure may suggest a pullback into descending SMA but in order for it to happen, optimism must fade away otherwise please note that Friday closed below 3, which, IMHO is very bearish .

IMHO the question is: the RISK-ON mood that was triggered last Thursday is still ON or is already feading?

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.
Nov 09
Kommentar: Speaking to reporters at Joint Base Andrews, Trump also said there had been incorrect reporting about US willingness to lift tariffs. “There was a lot of incorrect reporting, but you will see what I’m going to be doing,” he said. “There’s a difference on tariffs, but we can always get tariffs.”
Nice One !
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@EXCAVO, Thank you man. From you it's an honour. :) tx
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Gold Rate A Possible Swing high In Progress Support Level established at 1445 - Target High 1496
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Gold Support Level 1455 - Target high and Resistance Level 1496 on my Books.
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cozzamara forexcandles
@forexcandles, thanx for commenting and providing your view. That may be a splendid profitable opportunity but unfortunately I don't have the capital for taking such position. I just cannot afford to place the stop at 1455. As a small retailer I need to find profitable trading opportunities along the way in accordance with the money I have to play in the futures market.
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