Looking for Gold (XAUUSD) to have a larger retracement prior to continuing bullish in the longterm.
I am waiting for a retest of the resistance around the $2400 price.
I will then be looking at the lower timeframes 4H, 1H, 30Mins for sell entries.
First profit taking level will be at the $2185 level, where I will move my stop loss to breakeven.
Full take...
Gold coming to an end of another down move. OANDA:XAUUSD will reverse to the upside below this area. and I will update below comment section the setup. Then you can watch later.
Gold got strong from the last couple of hours and now it's going some pullback down. but still we can assume that buyers are strong. So this area could be a ending point of this current down pullback and will reverse to the upside once the market reach to this highlighted area. Keep on eye buys and I will update the chart setup on the comment section
Gold chooses its direction to wave 2 or C as predicted on 11 August. At the current level of 1747, about 50% pulled back and arrived at significant support but still have more downside.
Whilst, DXY recovered its value as the positive data of U.S. Retail Sales and initial Jobless Claims. The dollar could keep rising this coming week with limited downside. If DXY...
In this analysis we can see gold price is strullging between is symmetrical triangle and flag patterns after a strong upside move. here we have two sanerio if on monday price respect this sysmmertical triangle and bounch from 1780 than we see gold price at 1786 and if break 1787 than it goes to 1795 strong resitance of 200 Ema in 4h time frame. otherwise if price...
