Gold breakout of the descending trendline + resistance after completing an a-b-c triangle in wave 4.
I will be watching the price for a potential retest of the broken level and continuation higher.
While the price is still trading below the blue line, then it's a tug of war between the bulls and bears. The break of wave b high, the blue line, will give...
Gold Bullish setup
Resistance Levels: 1932.86, 1945.05, 1936.31, 1960
Support Levels: 1900, 1886.89, 18750, 18480
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This analysis for XAUUSD , GOLD on time frame 4 Hours.
I HAVE 2 OPTION FOR BUY AND SELL
1. BUY AT THE SUPPORT ZONE I MARK WHEN BREAKOUT
2. SELL AFTER SUPPORT ZONE TOUCH, CANDLESTICK CHANGE RED
* HOWEVER GOLD IS STRONG DOWNTREND, SELL WITH MOMENTUM IS MORE GOOD .
If your entry already & running in profit to TP1 move your SL upper 5 Pips to entry point,...
New Gold Update And The Next Stop For Gold
Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Cancel/pending plan few minutes before news! (Medium/high impact news)
The content on this analysis is subject to change at any time without notice, and is not provided for assisting traders to make decision.
So I trigger in long on market open I manage to get 3/4 my position around 1807. Already in nice profit. I have revise my target as the 1.618% fib @ 1858 area. Makes sense to me looking at the bounce from the below 141.4% fib. Stops at 1805 just incase market changes its mind!!
If it can stay below the upper triangle line, I reckon XAU will keep falling to the potential target one and two in the next few days.
This analysis based on the technical analysis only, and this analysis fails if it can break out and close above the upper triangle line.