GOLD (XAUUSD)
Dominant Bias: Bullish
Gold trended smoothly upwards
last month, reaching a low of 1251.28 and a high of 1325.75. On September 1,
price made some bullish attempt, closing at 1324.89. The outlook on Gold is
bullish for this month, owing to the Bullish Confirmation Pattern that is
present in the market. Price is expected to gain at least 5,000 pips in
September, as price journeys further northwards. There would be some
corrections along the way, which would often be transitory.
SILVER (XAGUSD)
Dominant Bias: Bullish
Silver went bearish in the first
few days of August, reaching the demand level at 16.1000. From that demand
level, price went upwards, consolidating briefly and going further upwards. The
outlook on Silver is bullish for this September, which has already started on a
bullish note. This month, price could reach the supply levels at 18.0000,
18.5000 and ultimately, 19.0000. Normally, there would be some pauses and minor
temporary corrections along the way.
BITCOIN (BTCUSD)
Dominant Bias: Bullish
Bitcoin gained over 200,000 pips
in August, plus it moved further upwards on September 1, ending the day on a
strong bullish note. The market tops at 4971.50 and then pulls back seriously
(a minimum of 37,000 pips correction). The correction could continue for a few
more trading days, but eventually price would rise again, regaining recent
losses as it goes upwards, reaching the distribution territories at 4700.00,
4800.00 and 4900.00 (which were previously, and temporarily exceeded last
week). Once the distribution territory at 4900.00 has been overcome again,
price would then target other distribution territories at 5000.00, 5100.00 and
5200.00 in September. In spite of this expectation, there would be about two or
three instances of strong pullbacks in September, which should not hold out
long; for the overall movement would be bullish.
Traders’ Mindset: Traders' Mindset
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