Gold calls.Long term -medium term and intraday calls in gold is here !.

[counter_violent]

spot gold
4 hour
line dot chart
dots show the c;ose
3 trends
all you had to do was join the dots up
now at res

Fun with dots.

 

[Dentalfloss]

spot gold
shows the trend from 7th august
that last breakout was 1404 area/lilac
no real sign of a breakdown as yet
first the the aqua line has to get tested
60 min data

see the reaction in 1440 area

 

[Dentalfloss]

spot gold 15 min
if we are at resistance then we must see what reaction there is at support
breakout point/red is 1404 area..horizontal supp at 1404
break at orange is 1380 area
trend support is 1400..green
then we have horizontal res at at 1421,1428 and 1435 areas

 

[Dentalfloss]

trend break ??

if it breaks...then we widen the chart by decreasing the box size to pick up the next supp area

 

[Dentalfloss]

outlook for gold
changing the box size from the previous chart and changing the plot method gave us the horizontal and trend supp at 1392 area..thin green line and purple line
looming below is the 1380 area which is a previous breakout point/prev res,,,a very wide one and a big trend supp..wide green line and orange line
then there is trend res /red at 1413 area
so..still in an uptrend ,any of these areas could get tested

 

[Dentalfloss]

ok..so we had 1380 supp and 1413 res
these were both tested
1380 broke today
so we change the reversal to locate the next supp
see the aqua line/horizontal supp.. at 1359 area...previous..not been hit as yet
1380 supp should act as a decent res
above there is some trend res also at 1390 area
the trend is still bullish...but we watch to see the test of supp/res

 

[Dentalfloss]

1359 tested at nfp release

 

[Dentalfloss]

a look at the whole upmove in spotgold
4 hour data
$5 box
the move started on 28 june
a trend test on friday/nfp..this does not show completely on this chart as it plots 4 hour close.that area is horizontal white line.there is a previous breakout point /yellow at 1345 area
trend res /purple is at 1400 area.then horizontal res above
all these areas could get tested next week

 

[Dentalfloss]

a test of trend

then its 1360 and possibly 1345 areas
res is now above 1390 area

 

[Dentalfloss]

30 min data
strong downtrend yesterday

 

[Dentalfloss]

gold etf
gld 60 min shows the price action very clearly
uptrend retrace
price now testing support area
trend support now and soon previous horizontal support

 

[Dentalfloss]

spot gold 5 min since fomc
at a previous breakout point
trend test at 1338 area

 

[Dentalfloss]

4 hour
we have hit a previous breakout point
possibly in a big support area now...lets see if it holds

 

[Dentalfloss]

today"s price action in gold
5 minute close
does not know where to go
a break upwards to a top
then a tight coil to a drop
great scalping

 

[Dentalfloss]

here is the bigger picture
daily

 

[Dentalfloss]

now we can see why gold got shorted down to 1300 area this morning
1338 area was test of trend on the daily
1273 area is horizontal supp area from july
a test of trend ...possibly above 1325..if there is risk off

 

[Dentalfloss]

fed shutdown and we might end that downtrend
4 hour chart

 

[Dentalfloss]

todays price action
rally to res
then trending down
5 minute chart
a break of trend ...then a range
pips banked

 

[Dentalfloss]

but....
how did we know where res was
answer..
we picked up the res/horizontal on 15 min chart
and then we picked up the beginning of a new downtrend/purple
entry was at break of yellow
on the bounce..just went to a p
rev supp area
15 min

 

[Dentalfloss]

how did we know where potential support was ??

we had horizontal support on 30 min