gold can boost up after a minor retracement setting alerts and being patient is vital also important areas are marked up which price can react to.
Im expecting the 4hr candle to flip and make a move down to the next level as shown on the chart. This would mean sells below 1850.00 with a 4hr closure required. As always, im in bed through asian session and awake from 06.30 GMT to catch the pre london volume. Remember guys, its TIME AND PRICE that is the key to scalping these markets. Be at the charts when...
Welcome to 2023 traders. We hope everyone had a lovely holiday period. On the first trading day of the year, gold buyers are setting the tone with a new breakout and setting up a new trend continuation. Risk markets continue to trade mixed with some gains on stock futures while major risk currencies are trading lower to the USD and sharply lower to the...
Free peak at my chart of gold. Take a look at how easy it is to visualize the trend on a chart when you mark out the highs and the lows. Take what you came from this. I am not going to give you everything. :)
Gold currently facing resistance at 1715.02 & support at 1704.95 creating a ranging structure. Now if gold makes break & close below the structure, then it might continue to push down to the next support level at 1693.91. Similarly, if gold closes above the structure with further bullish move, then it might continue to push up retesting the previous highs at 1727.63.
Price currently facing short tf resistance at 1714.35 & support at 1703.60. now if price makes a break & close above the resistance, then it might continue pushing up to retest the previous high at 1727.63 or all the way up to retest the higher tf key zone at 1744.43. And If price makes a breakout of the previous low or recent support at 1703.60, then it continue...
Price currently ranging in between 1680.51 as its resistance & 1656.16 as its support. now if price respects the support & closes above the resistance, then it could continue to push up to the next zones at 1692.36 or all the way to 1707.02 to make a retest on the newly forming downtrendline. And if price respects the resistance & closes below the support the it...
Price facing recent support at 1667.16 while retesting the uptrendline & also price facing resistance at 1679.46. so if price break & closes above the resistance while respecting the support & uptrendline then price might continue to come up to the next resistance at 1691.67. However if price breaks out of the support, that would also be a breakout of the uptrend...
So gold currently moving in a downtrend channel & also formed a small timeframe structure while facing recent resistance at 1671.26 & support at 1653.99. now if price respects the resistance & breaks out of the support at 1653.99 then price might continue to push down to retest the next HTF support at 1644. 40 while still moving in respect to the...
Price retesting a major support zone on HTF at 1680.50 & also facing recent resistance at 1690.93 while moving in a downtrend. now if price respects the recent resistance and breaks & closes below the major support zone then gold could continue pushing down creating new lower low. However if gold respects the support and makes a breakout of the resistance then...
Gold after the bearish engulfing move from yesterday, formed a bit of structure with a recent resistance at 1708.53 & support at 1696.67. now we are looking for trades on the breakout of the structure. so if price respects the recent resistance & makes a breakout of the support at 1696.67 then price continue pushing down to next major support zone at 1681.93....
Price facing strong price rejection from the resistance level at 1726.90 & currently retesting a recent support at 1718.21. so if price continues to respect the resistance at 1726.90 & breaks below the recent support at 1718.21 then it could continue coming down to retest the next support at 1713.78 & retest the uptrendline as well.
Price while moving in a recent downtrendline, it formed a very recent resistance at 1710.13 while having a htf resistance at 1715.61. so as long as price continue to respect the current resistance at 1710.13 and makes a breakout of recent low then price might continue to push down to retest the next key level at 1693.68.
Gold has a Recent resistance at 1712.14 from & Support at 1698.80. now if gold respects its resistance & breaks out of recent support at 1698.55 then price might move bearish in respect to the downtrendline to all the way retest 1681.15 key zone. However if price breaks out of the recent high at 1714.86 then it would be a breakout of the downtrend & price might...
Gold if makes a breakout of the resistance at 1728.49 then it would be making a breakout of the downtrendline & that might lead gold to push towards 1735.90 or all the way to 1740.49 key zone. And gold finds resistance at 1728.49 & makes a breakout of the previous low at 1709.25 then it might push to 1700.60 or all the way to 1685.06 key zone.
looking for sells below the previous low of 1718.98 in hopes of price retesting 1712.58 & looking for buys if price breaks out of 1732.80 with further bullish move. but careful with the fakeouts.
Gold seems to be moving in respect to a downtrendline & gold might continue to move down to retest 1680 key zone if it makes a breakout of 1711.34 or create new lower low if even closes below 1681.50. However if it breaks out of 1808.34 with further bullish momentum then it would be making a breakout of the downtrendline & could shift to an uptrend from the downtrend.
The gold price gained more than $15 after the US ISM manufacturing PMI report. Technical: The near–term support is around $1760 next level of $1790