Gold GOLD PRO WEEKLY, March 16 - 20, 2020
- Thread starter Sive Morten
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Behind the Scenes of a Bullion Dealer - Shortages & Skyrocketing Premiums Mike Maloney
How deep they can press prices of gold (1375/50) and silver?
How deep they can press prices of gold (1375/50) and silver?
Tryingtrader
Sergeant
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This will help tremendously in the prevention of spreading the WuFlu bug in Europe... well done USA - spend even more money on unneeded activities.
They are all infected, arn´t they?
I thought gold and silver would finish last leg this week but it looks like all this bailout money could prevail and make some conggestion PA on most of instruments, especially on metals.
DJI30 hit 38 fibo and pullback., gold is about to wave below 1575 or to change TF on H4 / Daily., silver almost the same as gold
DJI30 hit 38 fibo and pullback., gold is about to wave below 1575 or to change TF on H4 / Daily., silver almost the same as gold
Sive Morten
Special Consultant to the FPA
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Greetings everybody,
Gold shows consolidation at strong weekly K-support and oversold area. Although it seems that retracement will be deeper, chances on moderate upside bounce in short-term perspective exists. For example - in a way of H&S pattern that we've discussed recently:
On 4H chart now we have two grabbers that hint on possible starting point of this retracement. But we have the risk factor - no extended bullish pattern yet and, take a look - 2xOP target has not been hit for few cents:
On 1H chart we're keep watching for patterns and now we have to deny possible H&S as market drops more than 5/8 support level. It means that the only reasonable pattern here is Double Bottom. It means that chances on W&R of 1st bottom look reasonable. But how to combine this with 4H grabbers?
Well, there are few ways to do it. First is ignore the grabbers, and watch for W&R, base the trade on Double Bottom solely. Second - use grabber for entry but place stops below 2x OP target with some room, to let market to show W&R. And third way is combination - split position in parts, take some by grabbers and the rest one, based on Double Bottom.
For bears is nothing to do now. Bearish scenario should appear when either pullback will be over or 1450 level will be broken...
Gold shows consolidation at strong weekly K-support and oversold area. Although it seems that retracement will be deeper, chances on moderate upside bounce in short-term perspective exists. For example - in a way of H&S pattern that we've discussed recently:
On 4H chart now we have two grabbers that hint on possible starting point of this retracement. But we have the risk factor - no extended bullish pattern yet and, take a look - 2xOP target has not been hit for few cents:
On 1H chart we're keep watching for patterns and now we have to deny possible H&S as market drops more than 5/8 support level. It means that the only reasonable pattern here is Double Bottom. It means that chances on W&R of 1st bottom look reasonable. But how to combine this with 4H grabbers?
Well, there are few ways to do it. First is ignore the grabbers, and watch for W&R, base the trade on Double Bottom solely. Second - use grabber for entry but place stops below 2x OP target with some room, to let market to show W&R. And third way is combination - split position in parts, take some by grabbers and the rest one, based on Double Bottom.
For bears is nothing to do now. Bearish scenario should appear when either pullback will be over or 1450 level will be broken...
DJI30 hit 38,2% retracement and on Monthly 162 expansion abc wave, but this could turn into 12345 next month, if we stay in this range somewhere till the end of March. I doubt that this is 4th wave bottom of an impulse as in chart so I expect either moving in range or proceeding down to 16500 zone where we could significantly bounce in 24000 zone. Then I think all this money printing could burst in the right direction toward 0,00, remember in 1929 DJI30 fell more than 90%. Only FED & Co could initiate buying indeces into new all time HH, in my opinion it is still too much to pay 14 ounces for a share of DJI30.
DJI30 in silver bahaves strange and it does not losing worth, at least not a lot, recently it is even gaining.
DJI30 in gold fell a lot, almost 43%, and this is scarry to me, gold is gaining against falling DJI30.
This suggests (to me) that XAUXAG ratio could extend all the way to 150 zone or even to 175, which is absolutely insane. So here are two calculations.
First if ratio stays in range 125
and second, if ratio expands to 150
DJI30 in silver bahaves strange and it does not losing worth, at least not a lot, recently it is even gaining.
DJI30 in gold fell a lot, almost 43%, and this is scarry to me, gold is gaining against falling DJI30.
This suggests (to me) that XAUXAG ratio could extend all the way to 150 zone or even to 175, which is absolutely insane. So here are two calculations.
First if ratio stays in range 125
R | = | 125 |
XAG | XAU | |
12 | = | 1.500,0 |
11,75 | = | 1.468,8 |
11,5 | = | 1.437,5 |
11,25 | = | 1.406,3 |
11 | = | 1.375,0 |
10,75 | = | 1.343,8 |
10,5 | = | 1.312,5 |
10,25 | = | 1.281,3 |
10 | = | 1.250,0 |
9,75 | = | 1.218,8 |
9,5 | = | 1.187,5 |
9,25 | = | 1.156,3 |
9 | = | 1.125,0 |
8,75 | = | 1.093,8 |
8,5 | = | 1.062,5 |
8,25 | = | 1.031,3 |
8 | = | 1.000,0 |
7,75 | = | 968,8 |
7,5 | = | 937,5 |
7,25 | = | 906,3 |
7 | = | 875,0 |
and second, if ratio expands to 150
R | = | 150 |
XAU | XAG | |
1480 | = | 9,9 |
1430 | = | 9,5 |
1380 | = | 9,2 |
1330 | = | 8,9 |
1280 | = | 8,5 |
1230 | = | 8,2 |
1180 | = | 7,9 |
1130 | = | 7,5 |
1080 | = | 7,2 |
1030 | = | 6,9 |
980 | = | 6,5 |
930 | = | 6,2 |
880 | = | 5,9 |
830 | = | 5,5 |
780 | = | 5,2 |
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I still think gold should drop to 1375 into 4th of ending diagonal and proceed into new all time high but scarry times could turn gold down and below 1046.
Gold - Big TF
On TFs H4 and lower I agree with Sive that gold could drop into W&R but this leg down could turn into 3ED not in BFlat.
Gold - Big TF
On TFs H4 and lower I agree with Sive that gold could drop into W&R but this leg down could turn into 3ED not in BFlat.
Helicopter Drops & Biggest Bailouts In History Are Here - Mike Maloney
Mike said recession started or in February or in March so when this data will be public we can expect everythig turned round against US$.
Mike said recession started or in February or in March so when this data will be public we can expect everythig turned round against US$.
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