GOLD seems to grow up!
Actualizado
Hey guys, here is my analysis for GOLD.
My point of view is bullish. I consider this trade as short-term trade and I will describe why, but firstly leek look at long-term sentiment.
Gold from weekly chart looks great for long. There have been some consolidations, BUT , gold is making higher lows from weekly chart. Now the situation is, that gold is making a triangle. There are a few resistances upwards at the levels 1350-1375. Gold is making still higher lows and it seems, that in long-term, these resistances could be broken, because bulls are stronger and stronger.
Short-term
We can see consolidation from january and i think this will last some time (but in trading you never know how long). Let's go use it as our benefit and low risk shor-term trade. The really strong support for us is 200 EMA (Daily), where the market spotted double bottom and it could be a bullish signal. STOCH RSI looks great for us, we got out from oversold zone and the curves had crossed upwards. MACD Histogram is saying us, that there are less and less bear volume and I think there will come bullish. Signal on the MACD curves hasn't crossed yet, but it seems, they will.
The value of GOLD is now near the trend line and above the 200 EMA. Our barrier is 100 EMA (daily), because the value is fighting between 100 and 200. When this 100 EMA will be broken, we are moving up. With good STOP LOSS, we risk a few, but can reach a lot. Here are some instructions:
BUY ZONE: 1309-1324
TAKE PROFIT: 1357
STOP LOSS: 1306
My point of view is bullish. I consider this trade as short-term trade and I will describe why, but firstly leek look at long-term sentiment.
Gold from weekly chart looks great for long. There have been some consolidations, BUT , gold is making higher lows from weekly chart. Now the situation is, that gold is making a triangle. There are a few resistances upwards at the levels 1350-1375. Gold is making still higher lows and it seems, that in long-term, these resistances could be broken, because bulls are stronger and stronger.
Short-term
We can see consolidation from january and i think this will last some time (but in trading you never know how long). Let's go use it as our benefit and low risk shor-term trade. The really strong support for us is 200 EMA (Daily), where the market spotted double bottom and it could be a bullish signal. STOCH RSI looks great for us, we got out from oversold zone and the curves had crossed upwards. MACD Histogram is saying us, that there are less and less bear volume and I think there will come bullish. Signal on the MACD curves hasn't crossed yet, but it seems, they will.
The value of GOLD is now near the trend line and above the 200 EMA. Our barrier is 100 EMA (daily), because the value is fighting between 100 and 200. When this 100 EMA will be broken, we are moving up. With good STOP LOSS, we risk a few, but can reach a lot. Here are some instructions:
BUY ZONE: 1309-1324
TAKE PROFIT: 1357
STOP LOSS: 1306
Operación cerrada: precio stop alcanzado
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