great opportunity on gold probably it will go up next hour
GC1! As mentioned in my previous gold post, I referred to gold hitting near 2.5k by the end of the year. Here is a daily projection of the current trend of gold. We can see that a bull flag is currently in the making, meaning gold will be range-bound for the next handful of days. I am linking an image on how this pattern can be traded. media.warriortrading.com
Contract - CME_MINI:NQU2020 - High - 12034.50 - Low - 11995.00 Current Stats - Gap: N/A - Session Open ATR: 200.54 - Volume: 17k - Long-term (Daily) Trend: Bullish Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable...
I provide, lets provide together Picture speaks for itself
GC1! 0.618 fib has been hit but is it enough to stop this bull run in gold? Does the new inflation of the dollar and political uncertainty fuel more buyers into metals? Let's get 2.5k GC by the election, or at least the .786 fib, only the market gods will tell, teehee.
RTY1! RTY futures are at a pivotal point in price, looking at breakout territory. Since most of the indexes have made their new ATH. I am expecting the same in RTY, the caveat to this is that the stocks within the index need to recover, and since these stocks are small caps, it may be a little while before they recover due to economic impacts suffered by COVID....
ES1! ES is approaching a top trend-line charted from 2015, this trend-line was hit twice resulting in 2 slumps in price. Is the third time a charm for ES to hit 3530s and break out of this channel, or will we yet again slump? With the fib extension from 2009, we see the 0.5 fib is sitting at 3535.25 where said trend-line is, pretty spooky.
1st target is the vwap and the same time 38.2% Fibonacci level. If the VWAP is broken, the 2nd target is the 61.8% (this is in case the market doesn't bump into the VWAP) Focus on The volumes to confirm it (don't forget that trading is only about probabilities)
Bearish signal for the ZB (T-bond future). breaking of the VWAP with a large volume. the market may reach the last bottom to constitute a trading range.
Last day we had a great green volume comparing to previous ones. the ascending triangle I signaled months before is still not broken out, this is a great example that shows how strong, heavy, and slow is this market (ZN). let's focus on volumes and trade when the triangle is broken.
nothing really impressive in the petroleum crude oil CL market, since the volumes are really small comparing to previous ones (see the volumes). however, the lows are higher and higher, we might expect a breaking of 61.8% Fibonacci level (42.86), if so, the market will be directed to 78.5% Fibonacci level, which is corresponding to the price 52.24. let's focus on volumes
Contract - CME_MINI:NQU2020 - High - 11741.75 - Low - 11729.75 Current Stats - Gap: N/A - Session Open ATR: 200.16 - Volume: 11k - Long-term (Daily) Trend: Bullish Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable...
Since the gold has corrected the increasing behavior last 3 weeks, the harmonic pattern tells us that It may retrace to the 0.382 Fibonacci level (The Fibonacci that works well when spotting the highs and bottoms), and join some previous supports and resistances ( the orange line is the mainline that tells us the history of gold for 20 years ). This is a pure...