InvestingScope
Long

XAUUSD: Buy opportunity outside the consolidation zone.

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has found support last Thursday and the decline on 1D is put to a halt. 4H is now neutral ( RSI = 51.980, Highs/Lows = 0.0000, STOCH = 53.271) and will continue to be as long as the price is being traded inside the consolidation channel shown on the chart. As long as this continues to provide support, and it later breaks upwards, we will be targeting 1,330 and 1,350 in extension. 1W appears to have completed its 0.382 Fibonacci pull back and is ready to resume the uptrend ( RSI = 57.364, MACD = 14.730).







** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality signals (http://www.investingscope.com) for live buy/sell opportunities on a variety of financial assets.
Buy? I think Gold is actually a sell opportunity!

Reply
@JoelWarby, Thanks for sharing. Your first daily key level is crossed. It is a strong bullish signal.
Reply
JoelWarby InvestingScope
@InvestingScope, Yes, there has been some intraday bullish momentum through 1300. I would be surprised to not see any bearish pressure around this price zone.

Even with a bullish bias I would only look to enter long with a retracement back to around 1300 and some price action rejection of this level to provide the Risk:Reward necessary and the correct market structure to take a bullish stance.

Its important to note that theres a long way for price to move to show any real bullish confidence and start making Higher Highs and Higher lows again.
Reply
@JoelWarby, Well said. The correction took place now it's just a matter of how USDJPY reacts.
Reply
it didnt reach feb 0.382 from 1346 level !!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out