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GOLD (XAU/USD) & SILVER (XAG/USD) – Buy and Sell Levels - XAU

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
GOLD ( XAU/USD             ) & SILVER             ( XAG/USD             ) – Buy and Sell Levels

XAU/USD & XAG/USD have dropped in value recently but a bounce occurred at crucial levels, on a Bullish Divergence.
The rise is unfolding on both precious metals with what appears to be Leading Diagonals.

Of course, when encountering a Leading Diagonal , one would expect a sharp decline before the next wave would occur, therefore, if a drop would occur in a Zig-Zag pattern, then this could pave the way for the trend to possibly continue with a Rally.

As per the previously posted “Fed December Rate Hike – DXY             Technicals – Elliott Wave Analysis” article, the USD indeed got trashed and dropped like a rock. In my personal view, the Dollar Index             (DXY) is still looking Bearish .

Recently, I was also paying attention to the Mining Vectors, especially the GDX, which is possibly looking Bullish , should break-out of the upper Channel occur.
The bounce from the lower Channel trend-line was in my radar, hence the reason why I decided to post the “XAGUSD - 2018 Bullish Outlook” article.

XAU/USD & XAG/USD could possibly overshoot a bit and exceed the upper Leading Diagonal converging lines, typical scenario for this type of Structure.

Verdict: short-term Bearish , medium-term Bullish

XAUUSD - SELL Position:
• 1267.00 (moderate) or 1270.00 (conservative) or Market Execution if aggressive
• SL @ 1278.00
• Target – 1249.00
XAUUSD - BUY Position:
• 1249.00
• SL @ 1235.00
• Targets – 1265.00 / 1285.00 / 1304.00

Verdict: short-term Bearish , medium-term Bullish

XAGUSD - SELL Position:
• 16.20 (moderate) or 16.30 (conservative) or Market Execution if aggressive
• SL @ 16.45
• Target – 15.85
XAGUSD - BUY Position:
• Entry @ 15.85
• SL @ 15.60
Targets – 16.20 / 16.60 / 17.00 / 17.50 / 18.00 / 20.00

Many pips ahead!
Comment: DXY:
Comment: GDX:
Comment: DXY and GDX analysis valid!

XAUUSD started the expected Impulse:

Comment: Correction starting:
Comment: Correction complete, more up-side in view:

Comment:
Comment:
Comment: Minuette (v) black could not occur anymore as XAU is trading below the Channel. Final push up could occur but at these times XAU could be preparing for a significant drop. USD reversal could occur.
Comment: Minuette (iv) and Minuette (i) are overlapping which could only mean that in a Bullish scenario an ending Diagonal is the single solution. If it fails to return into the Channel, red alert.
Trade closed: target reached: Targets Reached!
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VERY GOOD
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got it perfect. no updates ???
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@HarbeerS, updated the chart
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Can u post an updated chart as of today's low I feel of 1308 should give thrust for 161.8 ret to 1341 as suggested by you
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Nice setup and follow up
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@HarbeerS, thank you
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