-Price of Gold significantly fell during Friday's trading session amid strengthening in US dollar.
-American currency supported by strong data on the US labour market.
-NFP for July amounted 255 thousands, slightly less than the previous of 292...
-AHE grew 0.3%
The indicators recommend SHORT positions.
Support : 1331.19 (local low) , 1327.10, 1320.00,...
The pair likely start correction down.
On H4 chart, the price continues growing from the region of 1308.20 (0.382% correction) and is heading towards July highs in the region of 1375.44 (0% ), but these levels unlikely to be reached. A strong growth would only continue only in case of price consolidation above the level of 1375.44.
We have reached a small potential reversal zone. shorting
Liability Disclaimer : All trades posted here are my personal view of the market.
If your planning to use them as signal, do your own research first and you are responsible for your own entries, exit, profit and loss management.
Mongers Kit
Mongers Kit is complete traders toolbox, with all the data...
Earlier we were hoping for a short term short knowing that the general trend is bullish.
We took 20 pips in the old trade and we have a new trade setup here.
We have a minor channel embedded in a major channel, I have already bought at 1317 .
I don't think its wise selling even if we do break to the downside but this scenario is quite unlikely.
you can either buy...
Overview:
The Gold markets rally during the course of the session on Tuesday to the level of $1370. At this point in time, we strongly believe that market is on its bull rally and ready to go higher. The Gold market sentiment is still positive. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4...
we have a minor and a major channel in daily.
if we break the minor channel ( break the red line ) heading upwards, we can buy till we head to the top of the major channel and watch for price action there, we will either break the major channel confirming medium term buy or we test the end of the channel one more time heading down.
or
we break the minor...
Overview:
The Gold markets rally during the course of the session on Monday, but found enough support at the level of $1350 and take correction. At this point, market is continuously sustaining on higher level, it indicate market is ready to higher. The Gold market sentiment is still positive. The main trend of Gold is bullish on charts and market is sustaining...
Gold on a daily chart bullish. Getting close to 1.414 fib and 1388 is Resistance. What do you guys think, does gold keeps rising or can we expect reversal. I would say there is a chance of reversal as RSI is heading to oversold.
Overview:
The Gold market fell during the day on Tuesday, but did found enough support below at the level of $1305 to bounce slightly. The main trend of Gold is bullish on charts and the $1300 level is looking a strong support level, at this point in time buyers are still interested in in the precious metal . The primary trend of Gold is bullish on charts. On its...
Pivot: 1297.00
Most Likely Scenario: short positions below 1297.00 with targets @ 1264.50 & 1256.50 in extension.
Alternative scenario: above 1297.00 look for further upside with 1308.00 & 1315.00 as targets.
Comment: the RSI is mixed with a bearish bias.
Pivot: 1290.00
Most Likely Scenario: long positions above 1290.00 with targets @ 1308.00 & 1315.00 in extension.
Alternative scenario: below 1290.00 look for further downside with 1278.00 & 1265.00 as targets.
Comment: the RSI advocates for further advance.
![XAUUSD: Longing yellow ingots [XAUUSD]](https://s3.tradingview.com/v/vYwAgbZx_mid.png "Longing yellow ingots [XAUUSD]")