I think gold is at a turning point right now where it's either a make or break. If gold closes below the neckline on the monthly chart, expect a very bearish price action in October; however, if it closes above the neckline, we might consolidate and stay afloat for some time but it sounds inevitable with the rising interest rates and the hawkish stance of the fed.
As per my previous short which has since hit all 5 take profits we are now looking for long setups.
This is as per the below analysis:
We believe there will be a quick and fast break of the previous low before reversing back up into the trading range and defining a bottom.
We hope this low comes off extremely low volume showing that the change...
Gold shifted bullish on 15 min. after clear accumulation. Based on this, I think we can see short-lived bullish price action as on the chart.
Overall, gold remains very bearish, so this idea is considered very aggressive.
📉 Text marks:
🔹 IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless...
Gold continues to hold bearish structure
📉 Text marks:
🔹IL = impulse leg. Inside of IL we can usually see inside structure, which is secondary in nature, like a market noise, unless you trade it on LTF , as it’s own IL.
🔹ph, pl = protected high or low, which holds current structural impulse.
🔹bos = break of structure . Based on candle body close below/above...
Key point for tomorrow is 1671.50 if the price holds possibly to see Target 1: 1683.46 - Target 2: 1690
Secure and bank ur profit @ Target 1
In the other hand, if the keypoint breakout possibly to see Target 1 1663.24 - Target 2 1651
This is only valid for tomorrow
Please kindly trade in ur risk
Please leave a comment or a feedback!
Thank you &...
Good morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a XAU/USD (Gold) Buy. Enjoy the day all. Cheers. Jim
As illustrated on the one-hour chart GDXU has reversed a downtrend as indicated
by the EMA crossover and so on. Support and Resistance lines are shown.
Price is well below the SMA200 and thus undervalued as compared with historical data.
I see this as an upside 30 % long setup with reasonable risk. Once the trade
progresses perhaps 10-12% in price...
"Gold is a hedge against inflation!"
You must have heard that. Everyone has. That's textbook doctrine. But, in reality, is it?
how has gold behaved since we have really started talking about inflation? Inflation has continued to rise, but gold has continued to...fall.
I saw a youtuber interviewing people around Wall Street asking them for advice with one...