Hey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 1955 zone.
fundamentally the market is expecting Fed to pivot in the next Quarter which is considered as bullish for Gold and Stocks in the long term. and considering also the Balance sheet that got more liquidity injected. we can also mention that the market is...
Gold (XAUUSD) ended wave (4) at 1803.84. From here, it rallies as a 5 waves impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 1858.33 and pullback in wave ((ii)) ended at 1809. The metal then resumes higher in wave ((iii)) towards 1914.60. Pullback in wave ((iv)) ended at 1885.40. Final leg higher wave ((v)) ended at 1937.31 which completed...
XAUUSD will form tomorrow the first 4hour Golden Cross since November 10th 2022.
The 4H RSI was castly overbought so expect a pullback to normalize this state.
A -2.60% decline as on March 8th, contacts Fibonacci 0.382 as well as the 4hour MA50.
Target of next bull wave = 1960.
Previous chart:
Follow us, like the idea and leave a comment below!!
The strong rebound from its long term moving averages continues to suggest the bull move remain in charge. Longer term targets are the 1960 recent high and the 2070/90 region, which is the high we got back in 2022 and also the top of a 12 year channel (see monthly chart).
Disclaimer:
The information posted on Trading View is for informative purposes and is not...
Both targets are hit on Gold (see end of page for chart), turning the 4H time frame over extremely overbought (RSI =89.410, MACD = 16.990, ADX = 49.304) as the price is approaching the final Resistance, R1 (1,919). We are now out of every long position on XAUUSD and will buy again on the HH trend-line again at 1,870 and target R4 (TP = 1,960).
P.S. Last week's...
Here we are looking at SILVER on the Weekly TF…
As you can see, SILVER has been trading within a macro symmetrical triangle structure, which has clear and established support and resistance lines.
Silver has been trading within this structure since March of 2020 (COVID—19 Crash). Since then, it has tested descending resistance 5 times on the weekly, and...
Here we are looking at Daily on the Daily TF…
We’ll keep this idea brief as it’s pretty simple in its nature. SILVER has seemingly began to bounce from its local support that it formed back in November of 2022. If SILVER can hold this support and continue bounce from here, we can expect further upside to follow…
I will continue to update this chart as there are...
Gold has formed a triangle, as we all know triangle is a trend continuation pattern. Therefore there is a high probability it will break to the downside.
The key week reversal and break of a 2-month uptrend all point to a deeper sell-off for the gold market short term.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has...
The previous all-time high from September 2011 at $1920 is playing
a major role in price action yet again. Price reacted to this level in March 2022,
where the high of that candle also tagged the current all-time high at $2075.
Price failed at both resistance levels and went on a decline, creating a low
at $1614 in September 2022. November 2022 through to the...
Significant loss of upside momentum on the daily RSI suggests that the gold market is vulnerable to a correction short term, you may wish to tighten up those stops.
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory...
Every time Gold traded in overbought territory it pulled back. Is currently overbought and testing a strong resistance. Check my previous post lines below.
XAUUSD on the 1W chart is more straightforward. It crossed into the overbought zone technically (RSI = 69.498, MACD = 29.410, ADX = 36.625), approaching the top of the Channel Down where all full body 1W candles closed. Unless an extraordinary fundamental event takes place, Gold shouldn't deliver a wick similar to last time (March 2022 - Russia/ Ukraine war).
Pay...
We are maintaining long positions in gold due to a strong bullish trend. Our trend-following systems entered a week ago in gold futures as well as in heating oil and silver, and short positions in wheat and cocoa. We are maintaining positions with a guaranteed trailing stop loss at 8%.
Pro Real Time: ibb.co
Initial position from yesterday running well in profit with SL at break even (see last post)
Looking for a potential scale in
NOTE: this is higher risk since DXY and Oil are at critical lvls and could reverse
On the hourly chart, gold prices have completed a bearish breakdown by closing below the EMA-200. This breakdown occurred after a consolidation move with a seemingly three-tops pattern that formed after a bullish trend.
The short-term target area for gold price is 1786.12-1782.90, with 1776.60-1773.50 as the next bearish targets below.
In the contrary case, a...
As for entering the year 2022, we witnessed at its beginning a rapid recovery in the price of gold and it almost recovered during its previous peak, to retreat from it later and enter into another deep bearish trend in which the gold price lost 22% of its value as it reached the bottom of the descending channel shown on the weekly chart. At the begging of...
