Trading journal for gold silver etc.

[S S]

new highs with the less volume also confirms this.
beside this it seems like a false breakout. So pog should be down from here
if the pog break the today's high then all this scenario will be discarded.

The chart you have attached, is for a very short period of time. If you take a longer term view, the trendline is sloping downwards and everytime the prices are hitting it and using it as a support.

But the fact remains that the trendline is sloping downwards, and so are the prices.

I do not have sufficient data on my PC for Gold on CBOT but saw few charts on the net, and formed my opinion, given above. I could be wrong, though.

Cheers!
SS

 

[goyaltraderz]

still for me this was a clear upside ascending triangle in 30 min chart formation that can push the price to 784

 

[rishig38]

Gold MCX opens up 100 point higher from previous close....world prices are at 767 right now...do you think it will go up since it breached 776 earlier in the day??

 

[goyaltraderz]

Gold MCX opens up 100 point higher from previous close....world prices are at 767 right now...do you think it will go up since it breached 776 earlier in the day??

sorry i wasn't able to answer that coz of some problem with mine eye. whole day i was at hospital to check that soon i will post mine view after analyzing the today's actions

 

[goyaltraderz]

at this time i m expecting a one more low then retesting the 748 area where we will look to go short.after completely analyzing the market i will post mine chart

discarding this scenario looks like 5 down has completed so will wai for 753 area . c u all in mrn

 

[goyaltraderz]

 

[goyaltraderz]

looks like a fifth wave diagonal triangle is in progress this means that we may see a good thrust to the the upside soon after confirmation i will post the chart

 

[goyaltraderz]

detailed analysis would be posted after uae closing. at this time it seems that this move at least would go to the 740 area actual target is 748. coz last leg looks like a corrective leg with the numerous overlap waves,along with the continues bullish divergence i would say that we may see an impulsive leg to the upside

 

[jajati]

Hi to All,

I am a new member.About myself, i am an advisor in commodities.


Gold View

In short term i think 730 $ is the resistance. If it breaks 730 & sustain above that than we can expect 747 dollar. and in long term major resistance is 747. break above 747 than we can expect 770 dollar. My view is sell gold at 730 stoploss 747 target 720-710

 

[goyaltraderz]

thnx for ur advise in this thread, welcome here. also try to post ur chart so that we may learn better. the more the analyst in this thread the better it will be to come up with a good strategy