This is a messy scenario, typical of Gold. There’s and pattern retest where we left the double bottom which we should expect during the coming week or so. The triangle support was broken on the way down, now broken on the way up so 1726 is very important. We have a feeling they’ll want to get the bulls in higher up to drop it further down. We’re looking for...
Please have a look at our weekly chart for support and resistance levels. For the new traders, please add these levels to your charts. Starting to paint a clearer picture for us. All levels and technical being respected which is why we love trading Gold. We can see a clear double bottom formed and we can see the previous double bottom which failed to hold,...
Weekly: Please also have a look at our previous weekly analysis attached to the bottom. We will look at the smaller timeframes for indications on movement on the first trading of the week. This is an overview of our weekly outlook and the levels we will be looking at for market reactions. We can see we rejected at a key support level which has left a double...
We're expecting the price to continue with the bullish momentum. The area of interest is the 1727-30 region, this is where we're expecting a reaction. We have a breakout around this area that we're potentially going to test, however, we've also left a retest down below that is open. Support: 1710-08 Resistance: 1720/1727/1730
Looks like a clean IHS on this. If we get support below we'll test the long entry with a small stop just below. SL is a bit big for our liking but this could do what Gold did last week, break the neckline down and still go up. We'll wait for our strategy to give us confirmation but so far it looks good. Something to keep an eye on.
Looking for support at that 1730-27 level again on this chart. It seems to have broken out of the triangle that we posted on Friday. However, we have to remember that triangles can give false signals, they break on way first then go the other. Being a 4H TM the false break could be upwards towards our level of 1745-50 and maybe extend to 1765-70 before...
A very tight range for Gold last week. Looks like its trying to break back up into the upper range but struggling. Support remains at 1726-28 and resistance at 1740-45. We would expect some kind of pullback over Monday to potentially test the support level once again. We have NFP this week so unless it gets priced in early to mid-week we would assume this...
We don't really trade this but the structure looks good. 4H H&S up top that needs a potential test. Looking for a LONG trade trade but the entry looks like its yet to come from below.
Still stuck in this tight range even after yesterdays shakeout. Was a classic retest of the trend and sharp rejection. We want to see one of these levels break 1735-40 or 1726-20. Price is accumulating inside what is potentially a descending triangle. We're sitting on the sidelines at the moment waiting for this sideways movement to end before we get in to a...
Should come back towards the 92.40 level to take a rest. Still expecting this to go higher.
Trend break on 1H time frame. That 1727 level remains crucial as support and 1735-37 as resistance. An ideal scenario for bulls is for this to leave this price range quickly during the Asian session. We think tomorrow is the day this makes its move. We'll be on the charts early in the morning looking for clues. As always, trade safe.
The 1735-37 level is a level of interest at the moment. Yesterday we wanted a strong close above 1740, today we want to see the mentioned level break for this to continue upwards. The lower levels are 1720, 1710 and 1703.
We're looking for 1733-35 to act as support now and we're going to add to our long position. The previous position has the stopped move up to 1727 and we've banked 75% of it. Only if support is successful!! First target will be around 1746 with the 2nd being 1755. AS LONG AS IT SUPPORTS! Small lot with a tight stop as its accumulated enough so the break out...
Looks pretty bullish short-term. We want to see this challenge the 1745-50 area and see what sort of reaction we get. Based on the weekly we could support around 1740-35 and then break up towards 1760-65 as the first target and then 1775 or there abouts for the second target. We will keep this in mind when the market opens and look for clues on the hourly as...
Last week we suggested a level of 1760-65 is our area of interest. This week we will remain with a short-term bullish outlook as long as the price stays above 1735-40. We can see we’re retesting the breakout of the trendline which runs from May 2019. We have a higher zone of 1790-95 on this chart which could be a possible target and also a turning point. ...
Taking a small buy here, will take 50% at 1735 if it gets there. Tight stop on this one with small lot
FOMC: This is what we're hoping for. Whether it plays this way or not no one can predict. We're looking for higher pricing but want to get a good entry for a long. Support levels have been given on this mornings analysis. We're looking for a first destination of 1720 and below that 1708 levels. We will be looking for STRONG support here and an indication the...
Gold opened with positive momentum during the Asian session. We would suggest you monitor any trades you have open for the rest of the day as the market will be waiting for the FOMC minutes later today. Ideally, if you're not in any trades then stay out of the market until after the FOMC meeting, once the market has settled you'll get better, clearer...