Gold XAUUSD GLD Key Bullish Setup
Beyond the bullish setup in Gold, this is a great chart to learn from. Understanding how to read a plain chart is vital to becoming a great Technical Analyst.
Starting from the initial breakout in June 2019 starting wave A Testing 2011 Previous all-time highs Going vertical and getting ahead of its self the corrective
smaller A, B, C, a full structure that is forming a valid bull flag (in its entirety is a larger Wave B corrective) Testing the 3-year support trendline forming an
inverse M pattern (W) double bottom right at the 3-year support. A break here would form a "Hook" fully validating the bull flag setup.
At this point, the char is now offering a great bullish risk-reward point to enter long for a wave C, up. Knowing when to pull the trigger is important, rather
than just randomly buying and hoping. This is the edge Bare-knuckle Charting ( BKC as I call it) gives you good risk rewards both long and short.
In this particular chart setup, there are two key areas to go long. One is on the break of the W, the other a break of the Bull Flag. This is a matter of one's
preference and risk tolerance.
Conversely, a break lower from here would negate the bullish setup and more data will be needed to find the next key area for bulls while a bear could in that
case, take a short breaking of the 3-year support.
If you want to learn more about how this all works follow me here on tradingview or you can join me at Patreon.com/realmacro or Patreon.com/BKC.
Remember trading/investing is not about guessing, cute stories, or politics. It's about the understanding value and managing risk.
Starting from the initial breakout in June 2019 starting wave A Testing 2011 Previous all-time highs Going vertical and getting ahead of its self the corrective
smaller A, B, C, a full structure that is forming a valid bull flag (in its entirety is a larger Wave B corrective) Testing the 3-year support trendline forming an
inverse M pattern (W) double bottom right at the 3-year support. A break here would form a "Hook" fully validating the bull flag setup.
At this point, the char is now offering a great bullish risk-reward point to enter long for a wave C, up. Knowing when to pull the trigger is important, rather
than just randomly buying and hoping. This is the edge Bare-knuckle Charting ( BKC as I call it) gives you good risk rewards both long and short.
In this particular chart setup, there are two key areas to go long. One is on the break of the W, the other a break of the Bull Flag. This is a matter of one's
preference and risk tolerance.
Conversely, a break lower from here would negate the bullish setup and more data will be needed to find the next key area for bulls while a bear could in that
case, take a short breaking of the 3-year support.
If you want to learn more about how this all works follow me here on tradingview or you can join me at Patreon.com/realmacro or Patreon.com/BKC.
Remember trading/investing is not about guessing, cute stories, or politics. It's about the understanding value and managing risk.
Nota
Here is the same chart looks like to untrained eyes.Nota
Gold finally making a moveNota
Suddenly everyone likes Gold again. hehe! Looking good!
Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
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Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.