Gold Technicals Are Looking GreatWIth Gold being under pressure this week, I am still looking for gold to continue to fall to the down side short term. However, long term I am still bullish. WIth all the money printing and failed monetary policy that is being implemented on a global scale; I am predicting Gold to rise to at least 2300 by 1st quarter 2022. Yes, we are some ways off, but I am more of a long term trader. I do not trade every day, but my setups profits are phenomenal when I see a setup like what is taking place in Gold. Well we appreciate you for checking out our post and remember, we will see you on the other side.
Rodrick (CEO)
Third Eye Traders
Safehaven
Safe Haven (SHA) ready for its next leg up$SHA
-5 Wave Microstructure (green) EW
-Retraced back to 0.618 Fibonacci
-Wave 1 & 2 of Macro EW
-MACD & RSI oversold on the Daily
-If it breaks lower Daily 200MA is a test...(should bounce)
Thoughts?
SHA starting EW 3$SHA
Had to go back and look at some old charts...
I'm excited for the coming weeks 🚀😍
-Micro EW (Green)✅
-Retrace to 0.618 (Macro EW 1) ✅
-EW Correction (Macro EW 2) ✅
-We are on our 3rd wave now, generally the biggest wave...
Thoughts? 😉
$VET $BNB #BSC $ETH $BTC
Safe Haven still looking strong$SHA
Other than one fat finger scam wick to a previous low... 🙄
A few keynotes:
-4hr MACD is oversold
-Retrace to 0.618
-Bounced and now above 200MA on 4hr
-Still within ascending channel
So are we going to reverse soon? 👀
Price action - Safe Haven - SHAUSDTThe price of SHA is expected to rise from this point on. We saw a correction to the value of 0.382 Fibonacci retricement level that coincides with the place where the price was subtracted from the lower trading edge.
SAFEHAVEN *** This is just for educational purpose, not an investment advice. I am not an finacial advisor, I am just sh9aring my own analysis.
Thanks for watching. Follow if you like.
🏛GOLD Bubble Burst OR Lifetime Buying Opportunity?🚀
☑️As you can see from the chart
Gold is now experiencing the biggest correction in 3 years
The precious metal lost almost 20% of its value in 9 months
All that while the fed and the treasury keep pumping the system with dollar liquidity
S&P500 is setting new all time highs every week
And all other commodities and crypto are growing
One might say, that gold is a safe haven, and that once the coronavirus panic subsided
The investors pulled their cash out
However, if you take a look at the previous 15% correction
It took place at the peak of the coronavirus panic in the markets
Which means that EVERYTHING was falling, SPY, BTC and GOLD too!
Hence the question: When(not IF) S&P500 starts falls by 30-50% again
Will we see a buying surge in gold, or will we see the same reaction as in 2020
When all asset classes were falling?
This question has no clear answer in my opinion, but gold with a 20% discount seem like an interesting buy to me!
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Gold: Just some infosHi Guys,
what's your view on Gold?
Are we at the beginning of an uptrend like the one started in 2008 following the Global Financial Crisis or
are we at the top already?
Please leave a comment and a thumb up if you like the structure.
Thank you for your support and for sharing your ideas.
Be good!😉
Cozzamara
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.
Safe Haven (SHA) retesting levelNice to see $SHA retest the previous resistance of the ascending triangle if this holds... 🔥😉
GOLD - One More Swing To Shoot!GOLD is overall bearish, trading below our red channel but since it is approaching a strong support zone in green we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?
Our upper red trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, GOLD would be overall bearish and can still dive inside the green support before going up.
And of course, as price approaches the upper blue trendline, we will be looking for sell setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GOLD vs BITCOIN => Who Will Win?First of all, I would like to thank @TradingView for this chart combination!
I found XAUBTC chart interesting. Here is why.
XAUBTC has been bearish for a while. HOWEVER...
We can clearly see that the impulse movements are getting smaller and flatter . (as shown by the angles highlighted in blue)
So from a market structure perspective, this is an early alert that the buyers are losing strength, and we might have a potential reversal soon. BUT WHEN?
For the buyers to take over, and the momentum to be shifted, XAUBTC has to break above the last swing high. (around 0.04 - 0.05)
If this happens and XAUBTC goes up => it means:
Scenario 1 - GOLD UP, and BITCOIN DOWN
Scenario 2 - GOLD UP, and BITCOIN UP with Gold moving up more aggressively
Scenario 3 - GOLD DOWN, and BITCOIN DOWN with Bitcoin moving down more aggressively
Which scenario is more likely to happen in your opinion? and Why?
~Rich
In GOLD We Trust!- Our Safe Haven!Hello Trading Family, Gold is approaching an interesting area. What I call "TRIO RETEST"
Here is why => The Highlighted Orange Circle is the intersection of three key rejection levels/zones.
Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.
Retest 2: Lower Blue Trendline
The lower blue trendline is the lower bound of the channel which I consider as an oversold area.
Retest 3: Green Support - 1700.0
The green level is a previous resistance turned into support and round number 1700.0
As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, trendline break, and so on...)
For example, we can see Gold is forming a trendline in gray, so I will be waiting for a third swing to form around it to consider it valid and then buy on this last swing high break upward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
Bitcoin... it's wise to buy any dip before 100K It's most probable that institutional investors & fund managers are buying the dips caused by taking profits on a new high, normal market participants behaviour is to lock up profits in every new high!
When you look at the asset market cap and geographical reach ... it's not rational nor logical for such an asset to change direction due to TWEET, please don't lose focus on its intrinsic value drivers, it's not just a stock!!
MO Long! [Target: $50] Looks like the formation of an ascending triangle bottom reversal. In addition to the chart pattern, this stock currently has an 8.1% dividend yield. If this stock trades sideways you can still book an 8% annual return. Never mind the ability for this company to enter the marijuana market at scale. As I've mentioned in other posts, I expect to see some capital flow from growth stocks to value stocks. MO is a great target for those looking for cash flow and large dividend payments. This is a great way to diversify your portfolio.
**Not financial advice, do your own research**
Bitcoin bubble?!?! I don't think so! Bitcoin's bubble has even begun to inflate yet. We are going well over 100k before the end of this market cycle. Yes, yes we will hit bumps in the road and have dips from time to time, but we have a long road ahead of us. We have a buy signal initiated on the daily chart after breaking out of the wedge. I honestly couldn't think of a better time to buy if you missed out on the start of the bull run.
Future of Safe Haven currencies --> Flashback to 2008 analysis Hi all!
This is my idea on the future of the so-called Safe Haven currencies. Remember, people in the need of defense against coming inflation turn into currencies or gold as they do not have much knowledge or energy for other assets. This is why good analysis is needed to see in what currency to invest.
In the post-crisis period (4 years), both sides, the euro, and dollar initially behaved the same, reducing from their "crisis" peaks. In the longer term, the euro was most stable, consolidating in the upper/middle limits of the crisis. In turn, the dollar was marked by a stronger initial correction (it lasted about 260 days after the economy calmed down), then the rate accounted for fluctuations due to uncertainty. Frank had the best percentage return, moreover, it did not experience such corrections as the dollar in the same period. Look at the graph and compare the marked period, you will see that all three currencies behave more the same as in 2008.
Key Facts:
- the franc earned the most but the value of covid financial aid is unprecedented,
- the dollar did not repeat the history in 100% and fell below the pre-covid rate (a chance for an increase),
- printing the dollar does not help its rate, rather flooding the capital market with cash (blowing a bubble).
I encourage you to do your own analysis based on your home currency, I used zloty as the second currency in the pair.
Feel free to comment, give your thoughts. Would appreciate it if you like it!
Disclaimer!
This post does not provide financial advice. Always do your own analysis. Be aware that only you are responsible for your trades. Trade safe and keep in mind the risk!
USD/CHF analysis - "Safe Haven war"Dear traders!
USD and CHF are said to be some of the bests safe-haven assets, that retain value over downturn or "bad" news. Here is my idea on the USD/CHF pair over the coming period of time.
Technical analysis:
As we can see USD/CHF pair has been in a downtrend for a long time with more consolidated movement over the last periods. However, since mid-March, we can observe a continuation of the downtrend, at the same time indicating the power of CHF over USD. In December price was consolidating around a key S/R level of approx. 0.8918 having no power to break it with multiple tests. Recently the price came to the trendline, testing it, however not breaking it.
Fundamental analysis:
As you may already know bot USD and CHF are the most common forex safe-haven assets that people turn to in times of uncertainty or downturn of the economy. Right now besides Covid19 news, we have matters of inflation and US elections that seem to be on the clear path at last. Tomorrow we get an API report, which may influence the USD.
Be patient, watch carefully the area marked by the red ellipse, whether it will break the upper long term trendline or short term lower one. Such movement may suggest future price changes. Most importantly - be patient
Feel free to comment, give your thoughts. Would appreciate it if you like it! (my first published analysis :) )
Disclaimer!
This post does not provide financial advice. Always do your own analysis. Be aware that only you are responsible for your trades. Trade safe and keep in mind the risk!
Gold Three Waves Pullback!Gold Witnessed a fives waves down reaching 1802 Level, and entering a 3 waves pullback at the moment.
at first we take into consideration that the pullback is corrective targeting 1863 unless the chart gave us a bullish momentum and broke the target.
be aware of a counter wave for now to retest 1830 level at which it will be a good entry to go long again.