Forward outlook remain Bullish for GOLD
intraday trader could test XAUUSD at 1500 and stop loss 2 points below, for existing entry stops at 1510.
Traders playing the long pull stops at 1400
Big players holdings are must lower than 1380.
which means the overhead selling is important to watch for when price reaches 1380.
For traders who are actually holdings to the gains at this juncture may decide to move stops closer to break-even, or protect the gains to avoid unnecessary capital at risk resulted from loss in profit and time.
New entry is always available provided a good price is assure. Its a chicken and egg thing, you have to decide.
Selling which took place 26 Aug its strength has been increase by approx 30pct.
Recent low 1483 closed 1516
Forward could test high 1560
* Most recent posting on 14 Sep,2019
Traders playing the long pull stops at 1400
Big players holdings are must lower than 1380.
which means the overhead selling is important to watch for when price reaches 1380.
For traders who are actually holdings to the gains at this juncture may decide to move stops closer to break-even, or protect the gains to avoid unnecessary capital at risk resulted from loss in profit and time.
New entry is always available provided a good price is assure. Its a chicken and egg thing, you have to decide.
Selling which took place 26 Aug its strength has been increase by approx 30pct.
Recent low 1483 closed 1516
Forward could test high 1560
* Most recent posting on 14 Sep,2019
Comment:
As long as XAUUSD is resting above approx 1480, you won't want short against it.
Comment:
Sellers stay out, intra-day and swing trader stays out timeframes daily and lower.
Lower timeframe unclear situation, losses could increase.
Position trader could be or already entering the market.
Higher timeframe taking the lead.
What's important now is watch lower timeframe adjusting it's position and what happens.
Above was awhile ago took a snap look at the chart and has this summary would like to share my views.
To me, It is better not to short against rally in gold XAUUSD because it's rally come from bigger fellows. Chart in lower timeframe maybe unclear for intra-day trader to take sides now and i can see that especially you already noticed some short fellows trying to take down the Gold but it failed to do so.
It can be unclear now on Daily and lower timeframe so best to wait out or have much smaller position for the short side, if you really much short it.
If you a position trader, i would say you already are in long side and probably taken up quite recent long.
All the best trading!
Lower timeframe unclear situation, losses could increase.
Position trader could be or already entering the market.
Higher timeframe taking the lead.
What's important now is watch lower timeframe adjusting it's position and what happens.
Above was awhile ago took a snap look at the chart and has this summary would like to share my views.
To me, It is better not to short against rally in gold XAUUSD because it's rally come from bigger fellows. Chart in lower timeframe maybe unclear for intra-day trader to take sides now and i can see that especially you already noticed some short fellows trying to take down the Gold but it failed to do so.
It can be unclear now on Daily and lower timeframe so best to wait out or have much smaller position for the short side, if you really much short it.
If you a position trader, i would say you already are in long side and probably taken up quite recent long.
All the best trading!
Comment:
Expecting rally to previous high near 1594 to 1600. Current price 1529
Comment:
On the Daily Chart, the gold have bottom up. Thus, look for retracement. Unlikely to range bound. XAUUSD
