I think that Gold can move up
I will open buy if the price will break up key level $1315 and will Fix above it (1hour candle is min)
- Near that level will be low risk
- Also, price in the range. Most of the time when price break it - that move continue
UPDATE-We have took the entire profit out of the table from our silver trade at $15.700 which is mentioned below and making profit of about 1500 USD,However our risk free trade gold has been closed Automatically with no profit and no loss-we are reopening the gold trade
Currency Pair: XAGUSD ( SILVER )-(This trade has been closed)
Sell Stop Entry Price:16.00...
Hello Dear followers,
I'm waiting the gold to reach 1340 zone to sell because many reason :
- At this level the bat pattern will complete and the price enter PZR ( potential reversal zone )
- The price near the triangle upper side.
- The RSI (relative strength index) indicates bearish divergence on The daily chart.
- Wait there and don't rush to sell now ......
The yellow trendline is drawn from the January 2016 high.
DXY bulls have been rejected a total of four times over the past few sessions, as shown by the red arrows on the chart.
Bearish divergence on the 4 hour chart may indicate bulls are losing momentum, at least in the short term....
Additional trendlines are drawn from recent swing highs / lows and seem...
Technical Analysis and Outlook
With Gold fulfilled Outer Gold Rally $1322, Inner Gold Rally $1326 and the weak obstacle of the Key Res $1321 we are now in a position to witness an advance move towards the Next Gold Rally $1345 and possibly beyond in the near-intermediate time frame, while looking forward to addressing 2018 Yearly High $1366, and Key Res $1258...
Elliott wave view in Gold suggests that rally from August 16, 2018 low ($1160.37) is unfolding as an Elliott Wave Impulse structure. Rally to $1326.53 ended wave (3). Wave (4) pullback is in progress as a double three Elliott Wave structure. Down from $1326.53, wave W ended at $1302.4 and wave X ended at $1318.17. Internal of wave W takes the form of a zigzag...
Detail @ the Chart..P/S: Unlike conventional, To have consistent elliot wave counts,there is ONLY 3 subwave ( abc ) counts on ANY Impulsive wave (1,3,5) VS coventional counts which is 5 subwave (1,2,3,4,5)