Plan: wait for the price to bounce off from trendline or support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
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Gold's uptrend is intact and the pullbacks should be viewed as buying opportunities as I have mentioned previously in my ideas. Currently, the 1980 level is offering some resistance but a bullish breakout looks very likely.
If you look at the chart, you can see that price is creating Higher Lows(HLs) on the hourly every time it pulls back from the resistance...
Now let me take you through my thought process on what could happen.
Market opens and we get the drop I expect and it moves to target, you'll notice the target is not 2K and that is because I'm interested in securing profit and anything under 2K but above the recent highs is good for me.
My stop is at a level that would indicate a break in structure and if it...
Here in GOLD we have two positions & possibility of once more falling. IF it falls then we take full profit till its strong support & buy from there & if it gonna break its resistance we gonna just buy it according to Analysis.
According to FUND news gold is in correction & will fly but one more sell is considered this week due to some US economy strengthen...
the current levels have a lot of rejection from sellers so we are not gonna see the prices go up until we break the current levels at 1983
so we basically have 3 scenarios
1- the prices will drop from the current levels until the next zone at 1939-1944 and at these levels we will try to find a buying opportunity with a nice price action and our first take profit...
Get on this trade and it will feel better than S@x. I am looking for price to come down and retest the 1920 area as support before price bounces back up in a bullish fashion and break the recent all-time highs.
Once a support or resistance level has been broken we always look for the retest of this level before price moves in the direction of the break.
XauUsd closed Monthly above 2011 high. Amazing. However, we don't know if wave 3 has ended, but I'm sure it will end soon. Wave 4 should correct ~35%-40% then wave 5 up to $3000. We are lucky if Gold reaches to $3000 this year, it looks very real.
I believe Gold will either restest the trend line once more before breaking through resistance or if the trend line fails price will drop back down to support before possible going back up to busy through resistance
Hello everybody and welcome to my analysis 👋🏻
As you can see on the chart, Gold is now in a resistance zone.
The last weeks it grew continuously and now I think 🤔 the price will go down maybe to 1820 zone where we can buy again.
This is only my opinion.
Make your own analysis before investing and always use SL and tp.
Leave your comment below!
Gold is going up without breathing and now we will see whether it is going to return from the 0.618 fibo level, or the 1.414 fibo level.
If we see 3 candle openings above the area I marked with the yellow box, then our goal would be 1923 if the yellow box was not broken, this time the target would be 1860.
I will open sales at 0.618-0.786 fibo levels and close...
Change of plans. It appears the daily channel has some massive resistance. You might get a shortbuy to the top of the channel but eventually we all saw this coming sooner or later. The Short on Gold. It's Either that or it rides the rop of the channel, Bounces off the top of the channel to a fib retracement, then eventually through the top of daily channel and up...
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Gold had a spectacular week, on Monday morning price reaching 1980 just to dive 700 pips in the next 6 hours.
Volatility continued through the week with price having enormous ranges over the trading days, but with bulls maintaining control and putting in higher hights every tine which led to an ascending triangle formation with a clear resistance at 1980.