Hello fellow traders and investors,
In our earlier analysis we adviced you guys to sell with a stop loss, that is to protect your wealth. If you risked only 1-2% with that stop loss, this was worth taking that risk for the potential reward.
Our bias on gold remains bearish and we will explain you why below.
Daily chart
EMA200 and EMA250
Pivot-point
Fib-levels
Valesco's advice upon gold
Because of these facts our bias remains short and we will short any pop around this level, because of the massive movement to the south we expect. We've made a summary with notes on the chart.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
In our earlier analysis we adviced you guys to sell with a stop loss, that is to protect your wealth. If you risked only 1-2% with that stop loss, this was worth taking that risk for the potential reward.
Our bias on gold remains bearish and we will explain you why below.
- This forest chart was made up because many traders are speaking about a change of trend. The trend actually changed from bullish to bearish in 2015 and was confirmed in 2016.
- In 2015 the uptrend channel was breached by the price and we can see that it is being tested more than once. Every time this uptrend resistance was tested, we have seen a powerfull decline.
- In 2011 we can see a downtrend channel was established, which could have been a bullflag if we had seen a break up inside the uptrend channel.
- The downtrend channel has only 2 touches on the support and 4 touches at the resistance so far. The market is about geometry and we expect a third touch on the support to happen.
- We can see the powerfull yearly pivot of 1030 is still untouched since the breakup in 2009. This level is likely to be visited in a short period of time.
- The ema200 and ema250 support this horizontal support/ pivot point to be seen. We can see the price is really looking for this level to hit.
- Our followers know we don't like fibonacci, but we use it over here just to show you guys there is no coincidence of the expected 3-digits on gold. The 0.618-level many traders see as holy grail confluences with our ema's. This chart can be seen below.
Daily chart
EMA200 and EMA250
Pivot-point
Fib-levels
Valesco's advice upon gold
Because of these facts our bias remains short and we will short any pop around this level, because of the massive movement to the south we expect. We've made a summary with notes on the chart.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
评论:
If 1280 goes this could be the expected top on gold. Wait patiently before jumping into a trade, saving money can be seen as a gain too!
评论:
Guys, we are not married to the market. Seeing a chance like this needs to be taken action upon.
