🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Gold: Potential Long Entry Trigger

Published 12/11/2013, 02:26 AM
Updated 07/09/2023, 06:31 AM
GC
-

Potential long entry trigger in Gold yesterday.

On the weekly (below, left) and daily (below, right) today's close marked an entry in anticipation of the weekly time frame buy divergence playing out.
Gold Weekly
A little faster time frame; Daily (below, left) and ~4-hour (below, right) had a really nice 3d criteria setup and really nice R:R entry. Primary resistance to deal with is the 1289 area.
Gold Daily
The momentum on the 4H chart is pretty solid, and though the main trend is still solidly negative dip buying seems reasonable from here and back into the 1230 range. Under 1230 could see a failed move turn into a fast (bearish) move.

An even higher time shows a clearer picture of the monthly chart potential for a '3-pushes to a low' setup to play out
Gold Monthly


Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.