the first time I thought it could form a Cup & Handle it was on March 26, 2019 when I published the idea on TradingView. For easy reference please click the image below:
Since then I've been trying to undestand gold behavior until it broke out the handle for the upside which confirmed the...
the above picture is intended to provide a structural meaning to the moves made by Gold in the last two weeks.
AToW, 10 minutes into the hourly candlestick, Gold is trying to break above 1300.
If it does please consider this structure void.
With reference to the BIG S H S letters in red above, please focus on the LITTLE S H S in red in the chart...
since Gold crossed into negative sentiment at the end of February, RSI has yet to be oversold. Last time it has been oversold it was in the summer of 2018 between June and August.
Remember the Bull Run starded on Aug.16th, 2018? That was the last day Gold has been oversold.
Having said that, please note the 3S representing areas of supports for the...
the above is a close up of price movements inside the circled area:
Now please forget about the chart with the circle and concentrate on the 30 minutes chart.
a) three levels: 1266, 1277 and 1288;
b) price supported by 450SMA above 1277;
c) RSI just above 50;
IMHO, US China Trade negotiations and clues...
first of all, thank you all for appreciating my works.
I do my best to try to make sense of what makes no sense. At least for me. Like the move that Gold made today after strong NFP release. To be honest...I was not expecting that pullback. Especially I was not expecting to end week17 above the same support that was breached on Wednesday when FOMC...
Here a link to Investopedia definition of Cup & Handle:
There are many more on the web.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
hope it is readable.
1. Financial crisis of 2007-2008 (en.wikipedia.org)
2.People emotions take shelter into safe haven
3.Capital take shelter into safe haven
Fear and uncertainty drive the market.
4.In 2010 CBs & Govs. worldwide implement measures aimed to reassure and stabilize financial...
same narrative as previous posts. 2007 Financial Crisis increased demand for safe haven. Central Banks, by introducing policies to stabilize the financial system, eased the fear away and drove gold prices back to pre-financial crisis levels.
From this perspective it could be a 4th wave rounding bottom on top of 1st wave. If so, price coiling and 5th...
as the two red cups are, IMHO, supportive patterns,I'd like to know who is supporting gold.
b) gold industry?
c) China, Russia, India?
d) dollar system haters?
e) fear of another Financial Crisis?
Why should gold resume the negative impulse provided by the Financial Crisis 10 years ago?
Soon the correction will be over and gold will exit...
the above structure is based on the assumption that gold, among other factors, is driven by negative economic outlooks and is considered a safe haven asset.
For me the simpliest way to put it in order to undestsand price action in the last 10 years is the following: Financial Crisis have driven gold price up and the System have responded by implementing...
the above structure may be interpreted as a descending triangle according to thepatternsite.com but is my interpretation correct?
I was thinking about the Bull Run started by gold in mid-Aug'18 and its end (circled in the above...
tops are descending into 1285.
sentiment diverge but bears keep pushing.
Gold has been going up & down on support at 1285.
On Thursday Gold seemed to pull back (V-shape formation) but nothing happened.
I am seeing a lot of cups which may be the first signal that I am losing my mind.
C'mon, get a grip Marshall, let it go, Gold is not pulling...
this is what I see on the 4H chart.
Here below a very similar structure I made two weeks ago. Please click & play to watch how Gold moved since then.
To note the support formed in week9 following the dive. IMHO there are a lot of similarities between the support formed in week9 and the...
this is the handle I am referring to.
AToW 100SMA keeping the pullback under control.
This may offer a better idea of the activity inside the handle. Click & Play to watch it unfold.
Thank you for your support and for sharing...
in 2016 Silver made a bottom at 14$. At the end of 2018 it made another bottom at 14$.
In 2016 price pulled back right into the 1000SMA. In 2018 Silver pulled back too but price have not touched yet the 1000SMA.
In view of the above IMHO there is no need to enter the market at this stage. First need to build support above the pink 0.618 Fibo. When...
double bottom supporting at $14.
2nd bottom forming in divergence with RSI oversold.
230SMA stopping the pull back and pushing down as in 2016.
IMHO a cross of the 230SMA with price breaking and consolidating above $16 may trigger a run towards $20 (1000SMA) with 1st TP at $18.
Otherwise, IMHO, if support at $14 is breached, Silver will probably keep...
here it's where Silver is in respect of its position prior to the 2008 Financial Crisis.
Please watch the RSI and note the shift in sentiment that has been persistent since 2014. Silver has been in Low Sentiment for the last 5 years.
Sentiment was runnung high before the 2008 Financial Crisis but fear drove money out of other markets into safe havens...
I started this work on the 1H chart but I am posting 4H.
On the 1H chart I was trying to find a long SMA to support the move made since end 2018 beginning 2019 and found the 1000SMA.
On the 1H chart the 1000SMA worked well as support and then resistance but it was too compressed. I tried the 4H chart and noted that the 1000SMA was working very well as...