Gold / XAUUSD keeps its short term Channel Down intact and is now testing the 4hour MA50 for the first time in 10 days.
Buy if broken and target the top of the Channel Down at 1930.
Extend buying only above Resistance A (1937.50) and target Resistance B (1957).
Until that happens, take a low risk / high reward sell targeting Support A at 1895.
Keep in mind...
Gold is testing the wedge support and the level of 1895.34. The gradual renewal of the lows tells us about a strong downtrend and therefore it is a priority to consider selling.
TA on the high timeframe:
1) Something like a pin bar forms in relation to 1895
2) A bounce to 1914-1920 is possible to follow
3) Friday's daily candle close will determine further...
OANDA:XAUUSD forms another bearish range of 1912-1985. The price is descending in steps in the channel, which indicates a strong dominance of sellers in the market. What do you want to see next?
After the false breakdown of the support 1895, the market tries to buyback the fall and it succeeds. The price makes a retest of the resistance 1912. Another false...
OANDA:XAUUSD forms a new local low and then makes a retest. The bearish scenario continues, which tells us that gold will continue to red, unless, of course, the fundamental backdrop takes the opposite direction.
The phase of realization of the accumulated potential is forming.
When the support of the 1939 range is broken, there is a new downtrend in a...
Gold continues to decline and after breaking the key range, the price forms a bearish price channel. It is also worth noting the descending wedge on the background of a bearish trend.
TA on a high timeframe:
1) Gold is approaching the local key support of 1895. Possible rebound from the level to the nearest resistance
2) The trend is strong and obviously...
OANDA:XAUUSD is preparing for further declines. Bears on the basis of negative fundamentals are not going to give up. Another retest of support is forming, which increases the probability of further downside
Closing of the daily candlestick on Tuesday is very close to the indicated level of 1912.5. The retest is formed - the market checks the support area....
Gold breaks the support of 1939, goes down to 1910 and is preparing to go down again. The market is clearly bearish, a downward price channel is forming and within the channel we should expect a decline to 1895 and to 1880.
TA on the high timeframe:
1) Price breaks another support. The chart clearly shows that the market is actively dropping the price
2) Price...
OANDA:XAUUSD continues to form a sideways range of 1938 - 1912. But if you look closely, we see a symmetrical triangle on the downtrend. What can happen to the price?
The triangle can affect price both bearishly and bullishly. If sellers hold resistance, price will move to the lower boundary of the pattern - the chance of further declines will increase. But...
The market stops OANDA:XAUUSD fall at the local support level of 1912. On Friday, we saw a redemption of the fall, but the price could not overcome the resistance. The retest sent the price down.
There is a sideways formation of the range between 1938 and 1912. The price might test one of the key resistances, but there is not much of a potential for the...
The strict beauty of the chart is a reflection of the fierce eternal battle between the bulls and bears and right now I can clearly see that the bears are taking over so we will bend to the will of the crowd and sell too.
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Gold is on a technical rebound after it hit the bottom of the 1 month Channel Down.
It remains under both the MA50 and MA200 (4h) indicating significant short term upside potential.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1950 (under the Falling Resistance on a potential contact course with the MA200 (4h).
Tips:
1. The RSI (4h) got...
In the coming hours or days, gold will move down after the pullback to the previous week's low and will break its last week's bottom to experience the low numbers again.
OANDA:XAUUSD last week motivated us to keep a close eye on the trend support and the Triangle Beak pattern. A break of the support breaks the base of the trend, but there is still no confirmation, we only see the primary phase. What to expect from the price?
A breakout of the trend base forms quite a strong bearish momentum. Earlier, the broken level was also...
see weekly chart on my chart we have powerful support now 1920
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only thing I fear (news not in my hand) ACcelator indicator on daily chart (see it) , it say downtrend can start (if last low break)
bad scenario = my SL is in 1888 , if gold break it we must close buy or hedge it and wait for next buy place
I hope you big profits , on...
Someone mentioned to me that Gold is an asset that never loses money. I took the effort to show previously that Gold can very well do a 20% drop over a slow bleed (months) before it travels back up months later too. I also warned that Gold appears not to be able to keep properly and well above 2000-2080. Since 2020 (the Gold Odyssey series started in 2019), there...
Gold / XAUUSD is trading inside a short term Channel Down, with the previous 4hour candle forming the new Lower High.
Technically that calls for a sell extension initially to Support A (1909.50) and then 1890 in extension (-2.50% decline from the Lower High).
The 4hour RSI supports this sell as it is trading inside a Channel Down also but longer, since June...
Gold hit the bottom of the Channel Up that started back in November turning the 1D technicals bearish (RSI = 38.023, MACD = -15.070, ADX = 40.852). The 1D RSI in particular is printing a sequence very much like the Channel's previous bottom on February 27th. On both patterns Gold traded under the 1D MA50 for long, this time has been under it since May 17th.
We...
OANDA:XAUUSD quickly enough reaches the specified target of 1914 and forms a bullish rebound after a false breakout.
The price forms a range of 1939-1914, within which it can reach local resistance by the end of the session.
The daily timeframe hints that the fall will continue. The price exits the local descending range downward, breaking the support...
