Gold Monitoring Thread $ (USD) only

[ChrisSilver]

Since there was a topic to discuss current gold price action in £ GBP only, were some posts were being made in that topic referring to the price in USD, I have decided to make this topic.

This topic is to discuss all price action, predictions, screenshots of charts etc for gold in $ USD

[Abyss]

 

[HawkHybrid]

the fib retracements of the recent down move suggests a

possible wave 4 retracement. if true this means possibly

another attempt to hit $1360, maybe within a few weeks

we'll know.

 

HH

[HawkHybrid]

https://www.gold-eagle.com/article/20-days-left-find-buying-opportunities-gold

 

not too sure about the april 2019 breakout bit but I

agree with the triangle forming as the most likely

outcome.

 

HH

[Abyss]

Gold USD crucial level 1308.4 trading below yesterday low and 3 day low price have break of the trendline looking significant price action lower over the next 2-5 days target price 1283. Rally had in Gold from $1283 6th March to $1323 26th March very weak in comparison selling took place 20th February to 5th March. I believe next leg in Gold price is down once bears reassert control.

[Abyss]

 

[HawkHybrid]

looks like gold might have started an impulse wave 1 off

a retracement low(complex combination). if true this

could be wave 1 of 5th that is likely to target higher 2019

highs at maybe ~$1360.

 

HH

Edited April 4, 2019 by HawkHybrid

[sixgun]

1 hour ago, HawkHybrid said:

looks like gold might have started an impulse wave 1 off a retracement low(complex combination). if true this could be wave 1 of 5 that is likely to target higher 2019 highs at maybe ~$1360.

HH

But i thought price was going to plunge.

[HawkHybrid]

my prediction was a move towards ~$1360 followed by

a move towards ~$1200-$1240 by the end of the year.

so far it has only made it to $1350 so it might finish it's

attempt at ~$1360. I never said it was going to plunge.

on the contrary, I'm thinking if it plays out like this it

might actually start the bull run that'll make a higher

high than the $1900 2011 high in less than a decade.

 

HH

[sixgun]

1 minute ago, HawkHybrid said:

 I never said it was going to plunge.

And i never said you did - it was a sarcastic reference to Mr Wong(er).

[HawkHybrid]

2 minutes ago, sixgun said:

And i never said you did - it was a sarcastic reference to Mr Wong(er).

 

the possible coming wave 2 entry point should provide a

decent risk/reward ratio. I think he's currently long gold

so it might still work out for his account.

 

HH

[Abyss]

Two breaks in the trendline established by the bulls only unbroken trendline currently by the bears. On the break of the trendline previous post I stated the next area battle between bears and bulls (target price) $1288. Today 4th April Gold strong move up intraday when prices traded $1285 close session $1296 11 dollars higher. My thoughts when looking daily charts when bears take control market able to move price significantly lower noted on the charts. At this moment in time Bulls meeting lot of resistance attempting to move prices higher. We are looking at the consumption of energy prices move lower or higher and at this moment in time bears in control.

I personally believe we heading towards $1250 dollar mark for Gold but if the down slopping trendline broken then this analysis will be proven wrong. I am holding my purchase physical gold for lower prices. Long term do see retest $1250 this level could prove to be the establishment new bull trendline. Target price gold $1250 complete the AB=CD pattern.

Short term bearish target price $1250, very long term bullish looking A $1215, B $1356, C $1250 target D price $1390.

Edited April 4, 2019 by Abyss

[HawkHybrid]

42 minutes ago, Abyss said:

at this moment in time bears in control.

 

I disagree. the bear move from 12:00 03/04/2019 has been

negated by the recent possible bullish reversal. imo it's a doji

moment(no one is in control).

 

HH

[Abyss]

7 hours ago, HawkHybrid said:

I disagree. the bear move from 12:00 03/04/2019 has beennegated by the recent possible bullish reversal. imo it's a doji moment(no one is in control).

Agreed no one is in control but prices moving lower with greater velocity than higher it creates bearish market sentiment derives term bears in control or vice-versa.The last impulse wave (highest velocity price action) on the charts is down. The last candle is a Bullish Doji should indicate higher prices in the next 3-5 days but if this bullish wave does move prices higher than $1330 or break the bearish trendline it will signal continuation down trending market.

[Abyss]

 

[Abyss]

Update to the daily chart Gold the support level $1285 should broken next week heading towards weekly rising trendline.

Weekly Gold Chart

Long term bearish outlook weekly up slopping trendline started August 2018 and Gold unable to break down slopping trendline started February 2018 completion of the pattern Gold $1066.

Long term bullish outlook Gold unable break $1225 up slopping trend line another attempt $1351 / $1406 able to break these levels then target price $1586

Sometime during 2021 Gold trading either in the $1,100s or the $1,500s. In the very long term very difficult to predict price using technical analysis and price action.

[Abyss]

 

[Abyss]

 

[vand]

We had 8 up sessions in a row; a technical correction is inevitable. 

Bigger picture is that we are still very early in what should be a multi-month move, so I am still expecting a new post-Trump high by the end of the summer.

 

I like Chris Aaron's analysis, but if you look back at all his analysis video forecasts and then look at what the PMs have actually done you will see that he has no greater clairvoyance than any other analyst out there. 

[vand]

Knocking on $1356 this morning. this puts us within <2% of the Trump election high.

£1071 GBP 

Edited June 14, 2019 by vand

[vand]

Spot gold now up at $1360 and right up at the top end of its 3 year range. Another 1-2% will see it breaking out to multi-year highs. (that's a bull market in case you need help translating)..

Can it get through?

[DarkChameleon]

1 hour ago, vand said:

Spot gold now up at $1360 and right up at the top end of its 3 year range. Another 1-2% will see it breaking out to multi-year highs. (that's a bull market in case you need help translating)..

Can it get through?

Check the dollar to other currencies, not that great a sign of economic success...more that we are not doing so great that we have to push the fed to reduce rates because our $1.4T tax break hasn't done its job and the dollar is falling..apparently you cant print money without there being a kickback, my stash is rising but my buying strength is falling...swings and kicks in the pants.

[vand]

5 hours ago, DarkChameleon said:

Check the dollar to other currencies, not that great a sign of economic success...more that we are not doing so great that we have to push the fed to reduce rates because our $1.4T tax break hasn't done its job and the dollar is falling..apparently you cant print money without there being a kickback, my stash is rising but my buying strength is falling...swings and kicks in the pants.

DXY index has ranged between 73 - 104 in the last decade and currently sits much nearer the top of that range than the bottom at 97, so it hasn't fared too badly. It's certainly faired better than our GBP which is plumbing all time lows. However I think USD is due to head lower in the coming few years, though, which will act as a tailwind for the PMs and help drive the next bull market to new highs.

Edited June 20, 2019 by vand

[vand]

$1382 - we have lift off

[DarkChameleon]

We get more money for our gold but pay more money for our goods...time for auric gold finger to start shipping solid gold rolls royces again...lol.