AlgoVenture

AlgoVenture

The bigger picture, I doubt gold has bottomed and that's still a long way. But a rebound and with further significant appreciation from the current bottom? Continuing from my last post on bat formation and double bottom, the price did gain further, but a pity just a small wave of up to 70 pips, then it slid. However, the price rebounded off strongly after failure...

AlgoVenture

A safer bet would be waiting for a Gartley to form when it breaks above 1.1720 and look for short after completion. Else, may consider going for a long if the price manages to hold at 1.1613 support zone.

AlgoVenture

Gold has shown sign of rebound and the dollar is still unable to stand above 95. Nothing has really changed in the major trend where dollar will continue to gain further, but a major retracement could be very likely, and gold is kind of cheap right now after it has fallen almost 1200 pips. With all technical analysis in place for a rebound, my take is it's worth a...

AlgoVenture

1. Price has completed 2 waves of retracement at Fibo retracement 61.8%. 2. MACD has crossed downward, signaling the loss of buying strength. Simple technical analysis for a reasonable intraday trade.

AlgoVenture

The gold has depreciated by a thousand pips since April this year. Any price lower will undoubtedly increase investors appetite to buy the gold. Combining with the technical support of a weekly rising trendline and the completion of a bat formation at point D, that's very enough reasons to long the gold within the range of 1253 to 1240.

AlgoVenture

Gold is on a rush since a double bottom was formed around 1310, and it was sent further after a XABCD in the 30 minutes timeframe where D is at 1324.8, which I did a long and it's running over 100 pips. All this movement could be caused by the very reason that a gartley is in its completion. And now that the price has overcame B, we will soon see D at XA...