GOLD: what if...
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Hi Guys,
uncertainties over a US China Trade Deal by year end formed a double bottom in divergence with RSI that favoured the pullback from D into descending 200SMA and on upper band of the 100BB. To note that this encounter between BB and SMA occurred when sentiment was overbought.
A similar formation occurred few weeks ago when B was forming. Here the idea posted at the time:
The pullback from B retraced 0,382 Fibo of AB before receiving the push down by the 100SMA to from D. Is the 200SMA pushing the same? Or will price manage to break through towards E(D) into descending trendline?
If the latter was going to happen, and that is a CUP & Handle, a good opportunity may be when handle breakout. But, it may not be that easy to position with adequate stops as a 200SMA keeping price down is very strong.
TO NOTE. NFP will be released today.
For additional infos about Gold please refer to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
uncertainties over a US China Trade Deal by year end formed a double bottom in divergence with RSI that favoured the pullback from D into descending 200SMA and on upper band of the 100BB. To note that this encounter between BB and SMA occurred when sentiment was overbought.
A similar formation occurred few weeks ago when B was forming. Here the idea posted at the time:
The pullback from B retraced 0,382 Fibo of AB before receiving the push down by the 100SMA to from D. Is the 200SMA pushing the same? Or will price manage to break through towards E(D) into descending trendline?
If the latter was going to happen, and that is a CUP & Handle, a good opportunity may be when handle breakout. But, it may not be that easy to position with adequate stops as a 200SMA keeping price down is very strong.
TO NOTE. NFP will be released today.
For additional infos about Gold please refer to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
Note
The following idea has been posted by MikulovicFOREX and may provide a supportive structure similar to the above as far as the potential harmonic pattern is concerned. 
Note
The following is a snapshot posted yesterday in the chat just to show a pole and a flag: Note
Note
And this is the end following excellent NFP datas. Gold dropped big time. Lol
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