Gold calls.Long term -medium term and intraday calls in gold is here !.

[Dentalfloss]

looking into next week
tracking this downtrend that started approx 1 year ago
weekly chart/line close
trend res/aqua 1285 and above
trend res /dotted red 1320 and above to 1390/main trend res
horizontal/prev supp at 1220 area
these are the important areas for next week
price is getting squeezed...so could pop

 

[Dentalfloss]

a closer look at that consolidation on the daily
the chart is divided into bullish and bearish sections
the latest downtrend has some sort of channel forming and we can see the horizontal supp/light blue dotted.price is at the lower end of the channel
and more horizontal spp at `1220 and 1200
res...prev supp=res at 1290 area
trend res at 1295 area
not sure if this downtrend wants to break
there is horizontal res at 1320 area

 

[Atilla]

a closer look at that consolidation on the daily
the chart is divided into bullish and bearish sections
the latest downtrend has some sort of channel forming and we can see the horizontal supp/light blue dotted.price is at the lower end of the channel
and more horizontal spp at `1220 and 1200
res...prev supp=res at 1290 area
trend res at 1295 area
not sure if this downtrend wants to break
there is horizontal res at 1320 area

I'd say there is a H&S in there and we are looking at it possibly playing out to 1180. :idea:

 

[Donzayy]

I'd say there is a H&S in there and we are looking at it possibly playing out to 1180. :idea:

What evidence do you use to forecast?

 

[Atilla]

What evidence do you use to forecast?

I would not phrase it as evidence at all.

Just text book Head & Shoulders technical charting.

Head to neck line I estimate to be approx 120 ticks so expecting same drop from 1300s approximately to 1180

 

[b_p4tel]

i would short now @ 1284

 

[Donzayy]

i would short now @ 1284

Just took your advice, hope it goes well

 

[b_p4tel]

Keep SL as 1290 ....lets c what happens

 

[Donzayy]

Damn maybe shorting it wasn't the right thing to do

 

[b_p4tel]

Damn maybe shorting it wasn't the right thing to do

nothing has happened yet....u can exit on cost if u want

 

[Donzayy]

Yeah your right, lets just hope that the price decreases and we make profit

 

[b_p4tel]

Yeah your right, lets just hope that the price decreases and we make profit

u want to cash out now?

or change SL to entry

 

[Donzayy]

Yeah your right, lets just hope that the price decreases and we make profit

Kind of new to trading, whats SL?

 

[b_p4tel]

Kind of new to trading, whats SL?

Stop loss

 

[Dentalfloss]

nice one bp4
keep em comin
the good stuff was in the 1290 area...which we had marked from the weekend
but nevertheless..it was good stuff
Craig Revell-Horwood will give you a 10
keep dancin...

 

[Dentalfloss]

here is the 1 minute chart of today
first ..the rally to 1290 ..we had that marked from the weekend
then the breakdown..1282 was some sort of pivot area

 

[Donzayy]

Thank you everyone for their contribution, forecasts for tomo? Keep posting let's all work together

 

[b_p4tel]

Thank you everyone for their contribution, forecasts for tomo? Keep posting let's all work together

hope u held that short i told u about

 

[Dentalfloss]

gold 30 min
a break of support early on
good follow thru trend

 

[Dentalfloss]

bp4....good stuff ...usually never hold overnight..gold is too wild.imho
Craig Revell-Horwood 10
Darcy Bussell 10
Len Goodman 10
Bruno Tonioni 10
Your timing was pretty good
but..you did get your legs twisted in 1290 area....lol
good stuff
keep dancin