Type : Bullish Rise Resistance : 51792 Pivot: 51152 Support : 50529 Preferred Case: On the H1, price is moving above the ichimoku cloud and has broken out from descending trendline which supports our bullish bias that price will rise to the pivot at 51152 where the swing high resistance, 78.6% fibonacci projection and 61.8% fibonacci retracement are. Once we have...
Type : Bearish Momentum Resistance : 51158 Pivot: 50742 Support : 50157 Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 50742 in line with the swing high resistance and 38.2% fibonacci retracement to the 1st support at 50157 in line with the swing low support. Alternative...
Gold had finally hauled itself up a bit higher into the orange zone between $1868 and $1919 only to drop back out. However, we expect it to gather all its strength to make it into the orange zone again and subsequently towards the resistance line at $1921, where it should finish wave b in orange. Then, gold should fall below the support at $1830 and continue the...
Type : Bullish Momentum Resistance : 51788 Pivot: 51240 Support : 51035 Preferred Case: On the H1, price has broken through the descending channel and is moving along the ascending trendline. Also, price is moving above the ichimoku indicator which supports our bullish bias that price will rise from our pivot at 51240 in line with the overlap resistance, 38.2%...
#GOLD Futures Postional Long Idea Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any...
Type : Bearish Momentum Resistance : 51144 Pivot: 51040 Support : 50683 Preferred Case: On the H1, price is moving within the descending channel, MACD is showing bearish momentum and price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 51040 in line with the overlap resistance to the 1st support at 50683...
Type : Bullish Rise Resistance : 51144 Pivot: 50723 Support : 50416 Preferred Case: On the H1, stochastic indicator is bouncing off resistance level which supports our bullish bias that price will rise from the pivot at 50723 where the swing low support and 78.6% fibonacci retracement are to the 1st resistance at 51144 in line with the pullback resistance and...
Type : Bullish Rise Resistance : 51386 Pivot: 50900 Support : 50578 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 50900 where the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection are to the 1st resistance at 51386 in line with the swing high...
Type : Bullish Rise Resistance : 51545 Pivot: 51303 Support : 51141 Preferred Case: Price is moving within the ascending trend channel and is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 51303 where the pullback support is to the 1st resistance at 51545 in line with the swing high resistance, 78.6%...
Type : Bearish Momentum Resistance : 50877 Pivot: 50577 Support : 50290 Preferred Case: On the H4, price is moving below the ichimoku cloud and breaking from the ascending channel which supports bearish bias that price will drop from our pivot at 50577 in line with the overlap resistance to the 1st support at 50290 in line with the pullback support, 161.8%...
Gold update from the previous post where I said gold may go to 1800 or even 1760. As predicted, the bounce from 1800 was short-lived & GOLD is barely holding 1833, the 0.618 Fib level. This time it falls, 1800 may not hold anymore. These are the 3 next impt supports: 1) 1760 is an impt pivot & also near the trendline from 2018. Breaking below the 1800 to 1760...
Seeing the breakdown on the chart, Gold, being a commodity/metal, is expected to get to $1960 before it goes for the bearish run. Gold was little changed at $1851. Expected TP @ $1675 DISCLAIMERS This is an idea/speculation of Gold's movement, not an investment or financial advice. Trade with caution. CURRENCYCOM:GOLD Martin I. Sylvester Financial Market Analyst
Type : Bearish Continuation Resistance : 51102 Pivot: 50844 Support : 50563 Preferred Case: With price breaking the ascending channel and MACD having a bearish momentum, we expect prices to break through the ichimoku cloud. Also, we have a bearish bias that price will drop to our 1st support at 50563 in line with the 161.8% fibonacci extension, 38.2% fibonacci...
With prices moving above the ichimoku cloud, we have a bullish bias that price will rise from our buy entry at 1853.94 where the horizontal overlap support is to our take profit at 1884.14 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement. Alternatively, price may break entry structure and head for stop loss at 1832.57 where the...
Type : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap...
Type : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap...
Update of my 11May post that gold will fall to 1800 if 1833 does not hold. It bounced from 1800 but this may not last if DXY dollar index continues higher. GC1 gold futures is doing a M-pattern & may retrace to 0.786 FIBO back down to 1760. However, if DXY dollar tops out & retrace to 100 or 97, gold will be able to hold 1800 & rally back to 1920/1900 neck of...
Gold has extended its visit in the green zone between $1814 and $1847 and has reached its upper edge. Here, gold has finished wave 4 in green and should turn downwards to head for the orange zone between $1707 and $1657. There, it should complete wave 5 in green as well as wave iii in orange and start a countermovement in the course of wave iv in orange...