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Gold Price - Where is it heading?

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Treasury yields are going up, at the moment gold is correlated to the bonds....yields up, gold down...
 
greggles said:
It does work as two channels,
Click to expand...

think of that idea as one channel with a psuedo "mean" within the channel....varification of the validity is the repetition of price hitting the line and getting rejection and acceptance .....somethings cannot be fudged
 
Gold is also getting ripe....
 
I think that's what CanOz means but I'd like to understand why.
 
Posted on Twiiter......

Gold looking ripe for move away from a well developed lower balance area. Given the DX at res, could be up, nice R:R either way, play a retest i reckon.
 
It's just a dated composite to include the range that you see
 
I am not sure that is the most appropriate date to be using as it cut off a lot previous moves. (Yes I know charting is subjective before someone points it out.) Moving the date back just a few months shows we could be moving back in to an area of previous balance. Or we bounce off this back to more recent balance.......so I guess either way it is as you said, seems ripe for a move either way.

Maybe play this idea via gold vix?

Just starting to look at this stuff now so I could be completely off also haha


 
Ah yes i see your point. In order to get the whole profile i'd need data back to 2010...like this...

So i chose 2 years worth or so.
 
Market profile looks interesting but I don't really understand its practical application.

Would make a good thread.
 
Consolidating near the HVN above the value area that it left behind...1308.6 is an excellent possibility.
 
Very strange up and down roller coaster-like price action on gold overnight. It looks like a tug-of-war between the gold bulls and bears.

 
Joules, what sort of impact do you think that will have on the gold price?
 
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