FX:XAUUSD   Gold Spot / U.S. Dollar
507 views
14
507 1
HMM bottom of the channel provides a low risk opportunity to long. A break lower is 1204. I am expecting a big rise in price into next week. (or a big down move) bias is long. Either way a big move is money to be made.
Comment: can drop 3-4 range below channel watch there for buys
Comment:

Price broke down towards 1204 not quite touching it. Right now minor and major trend is bearish. I am expecting a small bounce towards 1220. We can look for direction there.
Comment: not time to expand in price yet
Comment:
Nice idea on XAUUSD and there may be bullish bias as you have identified. For our set up, we have identified the key resistance and support levels for the short term. The support we have identified is at 1220. It is a horizontal overlap support with 100% Fibonacci extension, 61.8% Fibonacci retracement. Stochastic is approaching its support at 5% where a corresponding bounce could occur. If a bounce does occur, we may want to look at the 1226 resistance level. It is a horizontal overlap resistance with 38.2% Fibonacci retracement. Looking forward to seeing how things develop.

Please have a look at our idea and share with us what you think.


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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out