dmedin

Seems to be range-bound right now. Frustrating; will need a decisive break along with increased volume in order to know which way to go on this.

Very nice analysis (which I have not yet fully digested), my own humble opinion is that Yen is not worth trading because it's so heavily manipulated.

I remain hopeful that it will fall further in order to 'converge' with its 200 day SMA (regression to the mean?) At that point we will think about going long and holding 😺 Again my timing is pretty bad!

It held above 577 and now it looks like it will have another go at 655, let's see if it can break it and stay above and then we will think about going long and holding... (might even buy real shares lol!)

Looks promising!

Cripes! Brent is dropping like a brick!

As an aside, I'm starting to really dislike these sudden massive drops and immediate reversals of U.S. stocks. It almost makes me want to avoid them altogether, along with the indices. How can anyone trade such randomness? If gold closes the week above 1500 then I am tempted to go long to see if it hits the next Fibonacci target of 1586.

@Mercury I would already have cashed in my profits (if I was so fortunate) ... would like to see the price around 1450 before I'd be comfortable going long just now.

I liked the clear, straightfoward explanation on the IG.com article. It did however leave me asking the question, what's the downside of HA candles vs regular ones?

Broken out of a rising wedge - to the upside

@Mercury That all sounds very true and reasonable however gold seems to be in a definite uptrend to me, so I would be buying dips. I tried to short a couple of times recently thinking it must surely be due for a pullback but lost out. If the underlying trend is up, I don't see any reason to short but rather instead to buy dips. Unless there is evidence that the trend is turning, and there's no evidence of that for gold yet is there?

@Mercury I don't understand what you mean about gold losing juice. It looks like it's rising relentlessly. What am I missing?

It found support at 1124 and is forming a bullish candle, let's wait it out and see if it registers a lower high!

Cripes!

Uh oh ... not a good sign ...

I wonder how much further it has to fall. The spread is still unusually (?) large (buy is 14 points more than sell)

Moving down to a 50% retracement?

Cannabis stocks were swinging up and low like crazy last year. Does that mean the cannabis index will display similar 'bipolar disorder'?

In limbo.

It's sticking by its long-term uptrend very well.

Where to from here? I got caught out with a long when it broke out of the supposed triangle and then fell back down again, if I had used volume as a filter that wouldn't have happened.

Still got a bit further to drop, until it realizes its 'fundamental value'? Notice my extremely poor timing here.

Here?

Well it failed to hold above 650 and now seems headed for just under 580! High time Veronica, high time!

A wee bit of simplification and/or clarification on those charts would help the rest of us out a lot.