3 indicators Gold will possibly top at +- 1800
Hi guys/girls/peeps,
I've been into gold lately and while analysing the gold charts I notices there are 3 indicators pointing directly at the 1800-1900 level as a reversal point.
When looking at the D charts you can see a possible cup is forming, the top of the right hand side, would coincide with the 1800-1900 level (2011-2013 range) with a possible pullback to 1347-1416.
I've also been into bats lately and notices that the same D chart also indicates a bearish bat pattern, where the D points at the 1800-1900 level again, and where the pullback range (1347-1426) coincides with a 0.618 pullback.
When looking at the H chart there is a possibility an inverted H&S pattern is forming, with a neckline at 1739. If this turns out to be the case, the target (again) is the 1800-1900 area.
There's been a general consensus that the SPX500 will topple over and form a lower high soon. This'll mean a massive bunch of selling. If traders will need gold to finance their margins, there might be a massive sell off of gold incoming. When looking at the timeframe this all might happen, it looks like it might be iminent.
So bottomline... If gold reaches 1800-1900 area, be ready for the SPX500 to tumble ;-)
If this turns out to be the case, I'd slap myself since I wouldn't believe it :-)
*This is just personal analysis and interpretation of the charts. Hence the use of conditionals above ;-) So this is not trading advice*
I've been into gold lately and while analysing the gold charts I notices there are 3 indicators pointing directly at the 1800-1900 level as a reversal point.
When looking at the D charts you can see a possible cup is forming, the top of the right hand side, would coincide with the 1800-1900 level (2011-2013 range) with a possible pullback to 1347-1416.
I've also been into bats lately and notices that the same D chart also indicates a bearish bat pattern, where the D points at the 1800-1900 level again, and where the pullback range (1347-1426) coincides with a 0.618 pullback.
When looking at the H chart there is a possibility an inverted H&S pattern is forming, with a neckline at 1739. If this turns out to be the case, the target (again) is the 1800-1900 area.
There's been a general consensus that the SPX500 will topple over and form a lower high soon. This'll mean a massive bunch of selling. If traders will need gold to finance their margins, there might be a massive sell off of gold incoming. When looking at the timeframe this all might happen, it looks like it might be iminent.
So bottomline... If gold reaches 1800-1900 area, be ready for the SPX500 to tumble ;-)
If this turns out to be the case, I'd slap myself since I wouldn't believe it :-)
*This is just personal analysis and interpretation of the charts. Hence the use of conditionals above ;-) So this is not trading advice*
Catatan
Right shoulder is forming, waiting on brakout of neckline. Possible on Monday 27th or Tuesday 28thCatatan
Still heading in the right direction...Catatan
Still heading for the completion of the right shoulder. Bit of delay though, but a breach of the neckline seems to be comingCatatan
Head and Shoulder pattern can't be completed anymore, so idea is invalid.You can't be right everytime ;-)
Catatan
It practically completed the cup... Curious whether it'll go to the moon or form a handle...
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.