Same as EURUSD we have a neutral bias here ,where price is holdin and respecting the 1275 Monthly PRZ so what could happen here is if price keep respecting this level we might see a daily pullback to the 1282 area or if it manage to close below it we might see a a drop to the 1265 with a possibility of reaching the 1240 area
The bottom in the precious metals has been forming since early 2016. As you can see from the chart of the ETF for the gold miners, GDX, it had a quick rally that year and then went into another sideways pattern until January 2019. Now the chart appears to be getting ready for a stronger up-move.
You can see that a long, bullish potential inverse “head and...
I think the price will drop down to $1277 with a huge probability because $1277 is a key zone.
Near that key zone could be a great buy opportunity with low risk
That's why i recommend open sell after pullbacks till $1279
XAUUSD so bullish. Gold moving in uptrend channel or we formed rising wedge. We are approaching the top, where we are most likely to sell, for this, be careful, the fall always happens faster than the growth
Two month ago i have been publish an idea that looking for bottom on the chart for gold but it doesn't happen. Last week just i see a red candle in the end of cycle. It seems we have change trend on this chart in the near future and we can have a good deal with gold right now. Because, I have many evidence. It doesn't matter what other pair tell us...
I believe there is still a bit more upside to go in gold before it falls from B to C and then we will see some buyers come in to take it to D and more selling will then take place.
This chart is an opinion based chart only. Please trade at your own risk.
As you can see gold in h4 chart it is on its major resistance and market has lost it's bullish momentum ready to come down use money management and divide lot into several parts each with variety of TP's
Will be watching and monitoring Gold for a breach and close below lower ascending trend-line. If we see a close below $1270 , I would anticipate to see a re-test of the trend-line and wick around previous support turned resistance at $1282-$1290. If all plays in accordance, shorts at these levels will be taken ($1282-90)
Gold is likely to bounce of from this level to 1299/1300 zone befor the drop. also gold is staying above 200EMA which offers a good support. we have to wait and see how it will play out.
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On Daily, Gold has beautifully breakout the neckline of Head and Shoulder pattern.
Waiting some retest, or maybe just little reverse, then Sell gold for huge profit
SL is when Daily candle bar close above the neckline.
TENDENCIA MAYOR BAJISTA TENDENCIA MENOR ALCISTA.
POSIBLEMENTE REGRESE AL NIVEL 88% PARA COMENZAR A CAER FUERTEMENTE.
SI ROMPE EL NIVEL 38% DE SEGURO BUSCARA EL NIVEL 88% PARA COMENZR A CAER HASTA EL NIVEL -27%
We can see that price retested but failed to break our strong resistance zone ( red box ) price then bounced and made a bearish run and is now on its way down to our support zone ( green box )
We can also see that around our support zone is that trendline ( TL ) that has been used many times before, it is possible that price could use this as support again also...
My current assessment of GOLD - that's how I think it will continue. The chart says it all.
This is just to share my current view. It is not a trade recommendation. Always use your own mind to decide for yourself.