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Gold is still on a downward channel and is trying to break the channel, but if it does not break it, of course, it may head towards the downside according to the scenario that you set.
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Here is the full analysis for this pair, let me know in the comment section below...
Detailed levels for buy / sell. On the screenshot below 🠗🠗🠗
ibb.co
Hi everyone. My analysis done for my main timeframe 5m. I start from higher timeframes D1, H1 and move down to lowest m5.
Gold Futures Contract, COMEX — 12-20
My trading is based on market phases.For timeframes m5.
Trading on m5 timeframe.
Based on Trend Buy and Sell Indicator (TBS), Gold is in uptrend identified by 100 week ma. In the next few weeks TBS is suggesting a pull back into 30 week ma which has proven to be a good support level historically in uptrend.
For this chart I have used parameters suggested i.e Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1,...
I was a Gold bull since 1300 and well before "corona" crisis. Now though, I become more and more bearish with each day.
The first sign for me that Gold is done with its bull run was on September 1st when the up break above 1975 resistance laked continuation. Since then another 2 lower highs formed on the chart.
Yesterday, again, Gold broke above 1950 resistance...
There are two scenarios:
The first scenario: The Wave IV is in the form of a Triangle pattern, in which by crossing the price from the area of USD 1991, we can consider the of Wave IV is over, then we should wait for the uptrend and movement to the target of USD 2100.
Second scenario:
The Triangle pattern is in B wave from point IV, if the price crosses the USD...
Yesterday, after touching 1930 median resistance, Gold dropped pretty quickly to 1910 zone support just to find some solid bids here and reverse with power to 1940.
The daily close in inconclusive and as long as the price is contained in 1910-1950 range XauUsd doesn't have a clear direction.
I will try to trade this range with buy orders around support and sell...
Hi all traders,
Im currently viewing gold as a possible descending triangle.
If the support is broken, we should see further downside of gold.
Any break of the trend line will only signal a possibility of a range bound gold first. I wouldn't assume the break of trend line would be the bulls taking over and making higher highs.
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As mentioned in the previous analysis, wave 4 is point where the triangle pattern is forming. With overviewing the details below the e-wave from the triangle pattern, the probable scenario from this point is in the C wave, which shows the Expanded Flat pattern has been formed.
To confirm this pattern, for the advent of uptrend, the price needs to cross the range...
Midterm forecast:
While the price is below the resistance 2075.05, beginning of downtrend is expected.
We make sure when the support at 1818.00 breaks.
If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 45 is not broken, the probability of price decrease...
GOLD
At 2000.00 level is the major resistance for the Gold at this juncture it rejected thrice in 4Hr time frame and reached broadly 1900.00
And bounced after touching the longer trend line which is the major barrier for the bear.Currently its trading in between the 38.2% Fibonacci level and 23.6 % Fibonacci level.
IF the upside level broken then the price...
OANDA:XAUUSD ANALYSIS FUNDAMENTAL & TECHNICAL
Gold had a 2% drop in the week we had, the changes given by the Fed were quite optimistic about raising it to a price above $ 2060 but that the economic crisis seems to hit and gold sometimes.
If we were to look at the daily structure we would see a trendline support and a resistance while we managed to continue...
GOLD
Has struck between the longer time trend line and 38.2% Fibonacci retracement level.
In H4 timeframe we had a clear bearish view and the bearish engulfing pattern is formed after the price got rejected at 1950.00 level.
Next target would be 1900.00 and the 1862.00. The Price is trading below the 100,200,50 exponential moving average.
Today the longer...
