Gold’s reputation as a safe haven in times of financial turmoil was tarnished on Friday as the growing panic about the spread of coronavirus infections outside China saw the precious metal suffer one of its worst one-day drops on record.
While the coronavirus is the major headline for the shock and awe in gold, the chart has already presented a pattern that...
OANDA:XAUUSD as we can see Gold prices have fluctuated in last week's trading. Last week's trade created the right price setup sitting at 61.8 Fib level . In the next trade, gold potentially will rise up to the first target of 1587 , if it breaks it will move towards the price of 1624 .
I have posted a series of analyses on GOLD in the last few weeks forecasting a bullish run in the longterm but seems the bears are not giving the bulls a chance.
Here we go again as I'm looking at Gold from a fresh perspective after last Friday's sell-off.
The GOLD corrective structure in wave 4 is becoming more complex. The visible count for the correction right...
Markets are now closed but this is the best time to review and analyze what happened over the past week.
Price for Gold touched the green trend line I drew which may be part of a bullish flag pattern for gold.
Price immediately bounced up, with 3 bullish candles before experiencing a minor retrace on Friday.
The close on Friday was weak and...
Yesterday I posted a trade idea for Gold, but we did not get a confirmation signal.
WE GOT CONFIRMATION! We got a bullish pinbar on the H4 off the blue trend line.
Price is still in the ascending triangle pattern.
Risk to reward is 2.
Targets are 1504, then S/R at 1515.
Daily trade analysis and ideas:
I was in a long gold position today, unfortunately price spiked down to my stop loss. I linked my previous analysis and trade idea.
Now I'm waiting for Gold to come back down to 1495 at the minor S/R before entering long.
Gold is still in an ascending triangle pattern and for that reason i am bullish.
Price today was unable to close below the...
Hey traders, as the day comes to a close, I am looking at this setup for Gold on the H4 charts.
I have drawn from what I see an ascending triangle pattern. Price has come down to test the ascending line, with 2 long wicks forming on the H4.
This represents demand from buyers who are either taking profit or entering into long positions.
The risk to reward of...
A breakout to the upside was seen in XAUUSD, and thus a trade was taken with as stop loss of $27 at around $1478 just around the previous consolidation low and a take profit of $50 at around $1550 just around the previous swing high. The price had been consolidating $1495 and $1481 and therefore, this breakout can be identified as a start of an...
I have been keeping my eye on gold for a while now and I suspect that we will see a Retracement coming next week. The Counter Trend Line has been respected for more than two weeks now so it's just a matter of time before we will see a break of the Neckline.
Remember, Patience is Key!
On the 15Min TF a perfect inverse head & shoulders reversal pattern has formed. Bullish price movement should take over in the next couple hours so now would be a perfect time to buy Gold as a short-term trade.
Trade Details :
SL : 1267
TP : 1278
Gold has reached new highs, the highest point since April 2018. The metal is overall trading inside an upside wedge, broke above a weekly trendline and doesn't face any significant resistance until $1.360. USD weakness may push it to the mentioned upper resistance.
CommaFX traders are long in gold from $1.310. Join our Telegram channel to receive more trade...
In relation to all my predictions, I believe people will panic buy JNUG as a reaction to -13% drop we might have on Monday, Oct. 15th. In my opinion and not financial advice, I would sell it and go JDST after taking profits at the ~48.9% pop.
Finally Gold has started to move in that bullish move that we have been expecting for a while , support lies at 1182 and target zone is at 1250.
The overall pattern is looking to be double zigzag.The wave count in Euro and US Dollar index DXY is also supporting this, US Dollar is about to finish last leg of bearish correction , hence GBP, CAD , EUR , AUS and Gold...