XAUUSD Potential Outcomes....
Price is sitting in a strong daily supply zone and is breaking structure to the downside on the LTF,
However the USD is still falling giving gold strength, because of rising inflation this could push Gold higher and if gold breaks the daily demand I will be then looking for retest and buys.
Normally this would be a high...
Gold soared after inflation print yesterday. Today it broke above 1800 USD. Currently price is creating setup for inverted head and shoulders pattern which is very bullish development for XAUUSD. We continue to maintain bullish stance on gold and we expect eventual breakout above resistance that lies near 1840 USD pricetag. Our short-term price target of 1850 USD...
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
A triangle is forming on the gold chart on the higher timeframes. It is difficult to say where the price will go, but if the price gets close to the lower support zone and squeezes around it, a breakdown and a fall down is likely. If the price comes to the trend line and starts to squeeze, a breakout and rise are very likely.
Write in the comments all your...
here in GOLD we finally get bullish impulsive move so here we have a little trend resistance from which it do a little pull back but we are considering its complete pattern to be final when hitting 1830s area.
So entry around 1790s is considering the best. As well area 1795 & 1804 is little time taking so little testing will be done here.
While the price is above the support of 1744.50, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades if the Midterm level 1744.50 is broken.
A peak is...
We are probably going to see the bottom of Gold very very soon, like either today or some time this week!
1) White 12345 = Leading Diagonal Wave 1 pattern on Daily chart
2) Yellow ABC = Classic ABC pullback (where we are at right now!)
So, I'm forecasting that it will drop to the Demand Zone before shooting up!
3) Green 12345 = Weekly's impulse wave...
Gold seems to be ready to break out and go to our target 1820-1830.
First, it breaks downtrendline. Secondy, it breaks the neckline of the inverted head & shoulders pattern.
1740-1750 is buy zone if gold backtracks there.
1820-1830 is our target for this month.
All are invalid under 1720.
There is a week now since Gold is fooling around in a (more or less) 100 pips range.
My bullish bias isn't changed ( at least for now), but the incapacity to stay above 1760 and have a decisive break of this zone is starting to annoy me.
From a technical perspective, as I said, we have a 100+ pips range with clear support under 1750 and resistance above...
Hello Traders! Check Related Idea for market context!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
Thanks for the...