Self Directed Investor Inc
SDI: "Empowering investors with ideas and education"
Symbol Lookup »  
Topics:ChinaETFsEarningsEconomyEnergyForexGoldIncomeLessonsIdeasTrading

  • Other news: News from PR Newswire
| More

Short Term Key Levels to Watch in Gold March 12

Mon, Mar 12, 11:12 AM ET, by Corey Rosenbloom

Similar to what we saw in silver last week, Gold rallied up off a critical support level as seen on the Daily Chart.

Let’s take a moment to update the current Gold Structure and levels to watch as price compresses between a critical support level and an upper resistance pivot.

Gold’s daily chart shows a form of “EMA Compression,” where price is currently sandwiched between a rising 200d SMA (very important reference level for longer term traders) and falling overhead 20 and 50 day EMAs.

The main idea is that price must break one of these boundaries – and the break should carry on towards the next logical price target as indicated.

Thus, a clean break above $1,725 suggests a continued rally back to $1,775 or $1,800… while a similar breakdown under $1,675’s critical support suggests a further downward revisit of $1,575 or lower.

Keep in mind that structurally, gold is in a short-term SIDEWAYS trend between $1,575 and $1,800 from September 2011 to present.

Let’s add a Fibonacci Grid and see the larger Daily Chart levels in Gold beyond the basics:

We see a larger perspective of a Sideways or Rectangle Consolidation in Gold prices in the context of a larger (weekly and monthly chart) primary uptrend.

When we add a classic Fibonacci Retracement grid, we see how the 38.2% Fibonacci Retracement intersects with the 200d SMA just as the upper 61.8% retracement overlaps the 20d EMA at the $1,725 area.

In simplest terms, short-term traders should watch these key price levels this week for any signs of a breakout (or breakdown) which could lead to a continuation move on to logical price targets as shown.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey's new book The Complete Trading Course (Wiley Finance) is now available!

blog.afraidtotrade.com


SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
SDI Glossary: "Retracement" Definition
This Article's Word Cloud:   Chart   Corey   Daily   Fibonacci   Gold   Grid   Rectangle   Retracement   Similar   Twitter   adsbygoogle   afraidtotrade   area   basics   between   boundaries   break   breakdown   carry   chart   continued   critical   form   important   larger   level   levels   logical   longer   moment   pivot   price   prices   rallied   rally   short   should   shown   suggests   support   target   term   that   these   traders   upper   watch   week   what   which

| More

Make or Break Support Bounce in Goldman Sachs GS
Fri, Jul 1, 1:55 PM ET, by Corey Rosenbloom

With the Brexit chaos, shares of Goldman Sachs (GS) plunged to a critical support level ...

July 1 New Month Emini Fibonacci Grid Morning Update
Fri, Jul 1, 12:25 PM ET, by Corey Rosenbloom

Believe it or not July begins afresh today. Here’s today’s updated Fibonacci and Emini (@ES) ...

June 30 Brexit Never Happened Emini Fibonacci Update
Thu, Jun 30, 12:15 PM ET, by Corey Rosenbloom

We’re collectively waking up to a dream where the Brexit happened but in the real ...

June 29 Bullish Surge Emini Fibonacci Update
Wed, Jun 29, 12:11 PM ET, by Corey Rosenbloom

We’re nearing our 61.8% Fibonacci Target rapidly on our Emini grid. Brexit? What Brexit? Here’s ...

Bouncing Market Update and Stock Scan for June 28
Tue, Jun 28, 4:11 PM ET, by Corey Rosenbloom

What goes down must eventually come back up in the market. Yesterday we saw additional ...

June 28 Bounceback Emini Fibonacci Target Update
Tue, Jun 28, 11:41 AM ET, by Corey Rosenbloom

The Daily Chart traded all the way down to our 38.2% Fibonacci Target and bounced ...

Charting Risk On and Risk Off with Utilities XLU and Financials XLF
Mon, Jun 27, 1:11 PM ET, by Corey Rosenbloom

When we’re talking about “Risk-On” or “Risk-Off” Money Flow in the market, there’s many ways ...

Down Goes Delta DAL on Weekly Reversal
Mon, Jun 27, 11:21 AM ET, by Corey Rosenbloom

Delta Airlines (DAL) shares reversed their uptrend into a downtrend on the weekly frame as ...

Expanded Emini Fibonacci Grid after Crash June 27
Mon, Jun 27, 11:11 AM ET, by Corey Rosenbloom

The Brexit Fall-out continues in equity markets including our own S&P 500. Let’s expand our ...

Brexit Aftermath Market Update and Big Stock Scan June 24
Fri, Jun 24, 2:51 PM ET, by Corey Rosenbloom

Well that was surprising. I’ll leave the explanations for you to read elsewhere as we ...

Quick Quad Market Chart of First Brexit Reactions
Fri, Jun 24, 1:11 PM ET, by Corey Rosenbloom

If you’re like me, you’re surprised by the U.K. “Brexit” vote. ...

Even with the Brexit our Emini Fibonacci Levels Hold June 24
Fri, Jun 24, 12:51 PM ET, by Corey Rosenbloom

I think we can safely say most of us didn’t see THAT happening. By a ...

How to Use Our Daily Emini Fibonacci Planning Posts
Thu, Jun 23, 7:11 PM ET, by Corey Rosenbloom

Each morning I post a quick Fibonacci Target Grid for your reference. We use this ...

All is Saved Bullish Market Update and Stock Scan June 23
Thu, Jun 23, 3:51 PM ET, by Corey Rosenbloom

We’re all saved! The United Kingdom is expected to remain within the European Union, and ...

June 23 Bullish Breakout Emini Fibonacci Grid
Thu, Jun 23, 12:11 PM ET, by Corey Rosenbloom

With expectations that the U.K. will remain within the European Union, stock prices surged right ...

June 22 Intraday Reversal Market Update and Stock Scan
Wed, Jun 22, 1:51 PM ET, by Corey Rosenbloom

Price retested the 2,100 key level… but failed to hold it this afternoon. Let’s update ...

Breakout from Fibonacci Grid Emini Update June 22
Wed, Jun 22, 11:11 AM ET, by Corey Rosenbloom

While price bounced between our upper Fibonacci Grid Levels, this morning we’re seeing a possible ...

The Critical Support Breakdown Trading Level for GILD
Tue, Jun 21, 3:11 PM ET, by Corey Rosenbloom

If you’re trading – or thinking about trading – Gilead Sciences (GILD), take a look ...

Bouncing Between the Fibonacci Levels Emini Update June 21
Tue, Jun 21, 1:31 PM ET, by Corey Rosenbloom

Despite yesterday’s large bullish up-gap, price bounced between our Fibonacci Grid as seen below. Here’s ...

Big Bullish Surge Emini Fibonacci Level Update June 20
Mon, Jun 20, 12:11 PM ET, by Corey Rosenbloom

The bulls seized control over the weekend with a strong bullish gap up to our ...

A Gap Out and Breakdown for Google GOOGL
Fri, Jun 17, 3:11 PM ET, by Corey Rosenbloom

Google (GOOGL) shares broke to new swing lows today after a gap-down and strong sell-swing. ...

Shocking and Stellar Reversals Today in All Markets
Thu, Jun 16, 4:11 PM ET, by Corey Rosenbloom

I assume very few of us saw THAT coming! What began as strong pro-trending movements ...

The Recent Surge of Defensive Money into Bonds and Gold
Thu, Jun 16, 11:21 AM ET, by Corey Rosenbloom

If you’re only watching stocks, you’re likely missing a big surge of money flooding into ...

Falling Emini Fibonacci Targeting Update June 16
Thu, Jun 16, 11:11 AM ET, by Corey Rosenbloom

Look out below! Chair Yellen spooked the market and sellers collapsed price through two Emini ...

Fed Day Fibonacci Emini Planning Levels June 15
Wed, Jun 15, 2:11 PM ET, by Corey Rosenbloom

No surprise! The Federal Reserve didn’t raise interest rates today. As we see the programmatic ...

Pullback Planning for Amazon AMZN June 14
Tue, Jun 14, 11:21 AM ET, by Corey Rosenbloom

Have you updated your “Pullback Trading Plan” for Amazon (AMZN) if you’re currently trading it? ...

Seriously the Fibonacci Levels are Magic Emini Update June 14
Tue, Jun 14, 11:11 AM ET, by Corey Rosenbloom

In the membership and morning Emini Updates, we’ve been expecting a logical pullback to lower ...

Gold Surges toward Key Prior High Target
Mon, Jun 13, 1:11 PM ET, by Corey Rosenbloom

As I highlighted Friday, Gold was surging toward the $1,300 prior price high and key ...

More Magic Planning with Emini Fibonacci Target Update June 13
Mon, Jun 13, 12:21 PM ET, by Corey Rosenbloom

Like Friday’s morning bounce, we’re seeing our expected price swing play out to our lower ...

Dynamic Options Power-Packed Webinar Saturday
Fri, Jun 10, 7:21 PM ET, by Corey Rosenbloom

I’m excited about this one! John Carter and Chris Brecher will be enriching your education ...

Three Quick Cross-Market Reversals Today June 10
Fri, Jun 10, 3:31 PM ET, by Corey Rosenbloom

For short-term and intraday traders, three trend reversals occurred on the lower frames today. Let’s ...

June 10 Retracement to Target Market Update and Stock Scan
Fri, Jun 10, 1:51 PM ET, by Corey Rosenbloom

Retracement! Price fell down away from the 2,120 target as expected toward the 2,100 level ...

Like Magic our Emini Fibonacci Target Holds June 10
Fri, Jun 10, 11:51 AM ET, by Corey Rosenbloom

“Do you believe in magic?” Ok Fibonacci Levels aren’t magic but they’re certainly interesting when ...

Chipotle CMG Continues Downtrend to New Lows
Thu, Jun 9, 4:11 PM ET, by Corey Rosenbloom

What a difference a year makes! Chipotle’s (CMG) share price hovered under $800 per share ...

Retracement Begins June 9 Emini Update Levels
Thu, Jun 9, 12:11 PM ET, by Corey Rosenbloom

Our Triangle Breakout Plan described yesterday was successful! Price reversed and traded logically down away ...

A Triangle at the Highs Emini Update June 8
Wed, Jun 8, 1:41 PM ET, by Corey Rosenbloom

Breakout! Or at least a hold at yesterday’s breakout resistance. Price is forming a short-term ...

June 7 Breakout Reversal Market Update and Big Stock Scan
Tue, Jun 7, 3:31 PM ET, by Corey Rosenbloom

Price extended the breakout from Friday’s worse-than-expected Jobs Report (how’s that for logic?). Let’s update ...

Breakout Level Planning for SP500 and Dow Jones June 7
Tue, Jun 7, 11:41 AM ET, by Corey Rosenbloom

Here we go! Price is breaking through current resistance to levels not seen since 2015 ...

Emini Breakout Update and New Fibonacci Grid June 6
Mon, Jun 6, 12:51 PM ET, by Corey Rosenbloom

We have a new breakout to a swing high in the @ES! This means we’ll ...

Apple AAPL Trades Down Away from Resistance Target
Thu, Jun 2, 12:31 PM ET, by Corey Rosenbloom

After springing a Bear Trap and surging higher, Apple (AAPL) shares achieved a key target ...

Third Time Emini Reversing off Our Fibonacci Level June 2
Thu, Jun 2, 11:21 AM ET, by Corey Rosenbloom

Today marks the third time price traded down toward – then reversed up away from ...

Video: When to Take Profits and When to Hold On
Wed, Jun 1, 9:51 PM ET, by Corey Rosenbloom

When should we grab our profits and when should we hold on for a bigger ...

The Three SP500 Rectangles and How to Trade Them
Wed, Jun 1, 2:31 PM ET, by Corey Rosenbloom

As we begin June 2016, the S&P 500 has formed three clear Rectangles on the ...

Perfecting the Pullback Market Update and Stock Scan May 31
Tue, May 31, 2:51 PM ET, by Corey Rosenbloom

We were focusing closely on the 2,100 level in the S&P 500. With divergences this ...

Logical Pullback Emini Update May 31 with Targets
Tue, May 31, 12:21 PM ET, by Corey Rosenbloom

Last week’s bullish pre-holiday action is now giving way to a logical pullback against resistance. ...

Uptrending ULTA Breaks Strongly Higher May 27
Fri, May 27, 12:21 PM ET, by Corey Rosenbloom

“Strong Stocks Tend to get Stronger” and Ulta Salon (ULTA) – a stock you may ...

Two Rounded Arc Reversals in Gold May 27
Fri, May 27, 11:31 AM ET, by Corey Rosenbloom

Gold prices declined eight sessions in a row in a collapse from the $1,300 level ...

Final Fibonacci Flirting Holiday Edition Emini May 27
Fri, May 27, 11:21 AM ET, by Corey Rosenbloom

Our two days of strong bullish action and yesterday’s consolidation took us straight into our ...

Flirting with the Final Fibonacci Emini Update May 26
Thu, May 26, 11:51 AM ET, by Corey Rosenbloom

Our two days of strong bullish (including a short-squeeze) action took us straight into our ...

Distribution Trade Planning for Alibaba BABA
Wed, May 25, 2:11 PM ET, by Corey Rosenbloom

Is Alibaba (BABA) setting up another Distribution Arc or Sell-Swing Breakdown Pattern? Let’s view the ...

  More articles:  1 2 3 4 5 6 7 next »

ABOUT US »   ADVERTISE »   CONTACT US »   TERMS OF USE & PRIVACY POLICY »

Short Term Key Levels to Watch in Gold March 12 | Self Directed Investor | Copyright © 2008 - 2016, All Rights Reserved

Any ideas and opinions presented in Self Directed Investor content are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All site visitors agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

SDI is associated with: ValueForum.com -- a subscription-based online social networking forum of serious individual investors. | MarketNewsVideo.com -- videos appearing on SDI are produced by Market News Video. | TickerTech.com -- stock quote content appearing on SDI is at least 20 minutes delayed and is powered by Ticker Technologies. | GoldStockStrategist.com -- Edited by Scott V. Nystrom, PhD, Gold Stock Strategist provides analysis on gold mining companies.