Pure Gold
מעודכן
Looking forward to see if the Dots which are price prediction attempts get any hits. The trading strategy to trade such price predictions is represented with the arrows. Once the price presents an opportunity with a candlestick pattern that might signal a turnaround/pivot point and the following Dot in time provides a good risk/reward ratio with its price level as the intended target/take profit, one might consider making the trade, especially if other elements regarding technical analysis support such a position.
As the first Red dot is actually from a previous project on this market, I have linked it to this one. The first triangle actually consists of two locally relevant trend lines or support/resistance lines. If the price reaches any of these lines of this first triangle, any scenario involving the next Dot as a target can be considered, especially with a strong enough signal coming from the Japanese Candlesticks.
The blue rectangle is a potential zone of influence where support might come in play for the price action. The orange scenario is a bold one, but should be considered, especially if more coincidences will occur until that date. If such coincidences happen, and if the Orange Scenario unfolds in the future that has probably already happened if this Universe is just a simulation, and time is just a simple variable in an algorithm, it will render itself as Gold. Pure Gold.
As the first Red dot is actually from a previous project on this market, I have linked it to this one. The first triangle actually consists of two locally relevant trend lines or support/resistance lines. If the price reaches any of these lines of this first triangle, any scenario involving the next Dot as a target can be considered, especially with a strong enough signal coming from the Japanese Candlesticks.
The blue rectangle is a potential zone of influence where support might come in play for the price action. The orange scenario is a bold one, but should be considered, especially if more coincidences will occur until that date. If such coincidences happen, and if the Orange Scenario unfolds in the future that has probably already happened if this Universe is just a simulation, and time is just a simple variable in an algorithm, it will render itself as Gold. Pure Gold.
הערה
A hit on the red dot. Not sure the other dots are valid targets any more in the current market conditions and the rush for gold in turbulent global times. Any scenario that would consider them would have to present a strong relevant candlestick pattern for a potential reversal.הערה
A break and a retest of the lower edge of the first triangle (support/resistance). Currently at the upper edge with some resistance encountered. Following the price action for today and tomorrow to see if this holds.הערה
הערה
The next dot as a target is quite far and close in time frame, but the current developments in the price action might be considered to be similar to a head and shoulders to some.הערה
Anyone who shorted at the Head and Shoulder mentioned in the previous comment is probably looking at the recent bull momentum with interest. This is a potential pivot point if the daily candle ends in the green. Also, the weekend is approaching and in the current climate of bad news that could surprise at any given time, any short is probably not a 100% safe short during the weekend.הערה
Extended triangle for the pivot point. Marked date today, but nothing unusual unless the current high will turn out to be another pivot point. I would rather see this going above the top edge of the green triangle.הערה
An interesting situation on top of this mountain, with a candlestick formation that could signal a significant turning point. With the stop loss above the recent high, and a first potential target at 2010, it looks like a risky bet against the momentum, but it is a risk/reward of 15 point for 28 potential gain. הערה
It was mentioned in the comment on 16 october that the price might reach the top of the green triangle. Was not expecting the big spike upstairs which was probably not stop loss hunting, but rather someone or something accumulating a big position in the market for the longer term perspective. Here it is in this moment in time, quite close to the top edge of the green rectangle. Maybe it won't go tumbling down along the right edge of the green rectangle, and not much is left in this project as a reference, but we still have the time stamp of the last green dot, which could still provide a good opportunity for a long position in case this will start shooting for higher ground.
הערה
Bounce from the top of the triangle. New steps in project but only relevant if candlestick patterns occur near them. They also provide an easier way to navigate through different future potentials while making assessments on the overall context of market sentiment and tendencies.הערה
Gold looks bullish enough to reach the purple zone without major drawbacks/corrections/drops/withdrawals. Could get choppy, could get less volatile, but we'll have to see how the market behaves in the first week of the new year.הערה
I doubt that the price hitting the end of the orange arrow is more than just a coincidence, just like the coincidence of the price bouncing from the top of the green rectangle. I was not convinced of the setup in this position for a reversal. (I liked the one on gold versus euro better, but still, the market kept on going higher for the next 2 days. One scenario is to keep surprising me going upwards. Other 2 scenarios would be to watch for the price action and potential candlestick setup patterns at the red circle, or even better after a further decrease in price towards the green rectangle where things could get interesting. (I am long biased on gold for this year, so looking forward for any potential opportunities for an entry in this market)הערה
Hit on the first purple dot. I am still overall bullish biased long term on gold, but I would also like to catch it at a better price after a reversal before the long road ahead. This setup right here (candlestick shadow on the up and a small bearish candle) can cause a correction in the bullish sentiment short term, but time will tell. Needs follow up bearish day.
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