Expecting Gold to continue falling in price after seeing some slight retracement back up.
MA convergence indicators and chart formation shows a preference for a continued fall. Sell gap should close around price 1909 .
Sell Entry: 1935.00
Targets: 1930.00 | 1927.00 |1923.00 | 1919.00 | 1915.00
Support: 1909.00
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In the previous idea I pointed that any insignificant growth finally will lead to reduction of price of gold. Level 1735-1740 should act as the first purpose of decrease. Today we can watch forming of the third red candle on the day chart that is additional confirmation for decrease. MACD is also developed down.
In the above Daily Chart, we've forecasted a marginal high of Gold(XAU) to around 2,060 and from this level we expect a correction ABC to around 1,800 where the smart buyers must appear with higher probabilities. In weekly(W) time frame, Gold(XAU) has a bullish structure .
On Friday, gold rose directly by more than $70 during the US trading session, closing around $1990, from its position around $1920 earlier in the day. During the US trading period, global stock indices fell across the board, with European and American stock markets experiencing continued declines. As a result, a large amount of safe-haven funds entered the gold...
I think XAUUSD Dumping from $1996 to 1800~1790
My SL is 2010 and TP shown on chart
Be nice...
Can't believe we have to spell this out, but yes, please treat others how you'd like to be treated yourself. Be respectful, kind, tolerant, and constructive, even when you disagree. There's no room for negativity, swearing, trolling, or conflict here: it's a waste of...
The shape of gold is similar to a head-and-shoulders top, and it is currently near the support level. If it falls below 1961-1957, it will continue to fall to around 1950.
So in terms of trading, I think it is possible to carry out short trading above 1965.
Trading straregy:
sell: 1965-1970
tp:1955-1945
I will continue to update specific transactions...
Looking to sell gold based on closure of next 15m Candle (30m & 1H TFs alligning also) for price to conintue down. If this candle does NOT close below the level the trade is invalid, it must be this current candle or the trade idea is invalid.
Majority of traders are now short gold.
Its important not to lose sight of the bigger picture. Inflation and deflation comes in waves and takes time to play out.
My cycle work show that the downside is limited, we might get a small drop, but its not worth the risk.
The range from now until march is tight.
The monthly gold chart do not show any greed yet,...
A continued decrease in the value of GOLD is anticipated, which recently experienced a rise from $1620 to $1970 price levels between November 2022 and February 2023.
GC shows signs of weakness and is likely to continue to head lower, as indicated by the strong rejection of the $1970 price level.
The strategy involves a weak correction upward towards the MSS...
Welcome
As you can see gold is moving in an ascending channel from 22 nov. the correlation between gold and dxy is back. I expect the price to drop to tp1:1890, tp2:1870 and then around $1800.
There was also a bearish divergence on the h4 interval, we are heavily overbought on the daily, the same situation on the weekly. There was also an ascending wedge pattern...
Wait for the 2nd touch and bearish engulfing candle. I will enter when I see these confluences. 1:3 on investment so manage risk properly. 1880 is the target.
From now i will have one main idea, and all the ideas as we reach cycle targets for the year will be updated in the thread.
Fallow, like so you dont miss the updates.
I dont trade short term, keep in mind my ideas are longer term, and its boring.
We wait for the cycles to bottom and we wait once in the trade for the trade to mature.
Multiple time frame analysis on Gold.
Price action & key levels.
Trading recommendations & thoughts.
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