The chart is self explanatory. We take SHORT position at 1290 and book profit at 1245.
You can also consider AB wave for short term long position.
Let's Watch !!
On the weekly time frame we see that not only gold is gonna break its lower range. Its also about to break 72 EMA and 14 EMA. As you can see a break of either of this EMA levels made gold trade in the direction of the break for a few weeks and now its about to break both of them almost at once.
The Adx indicator also shows a strong bearish trend and Stoch Rsi...
So far gold has been moving nicely around in this channel. Indicators show that price might decline to the lower range at 1245 at this point either the range will break or there will be a bounce back up that will got above 1300. However we also see that in the past the price already bounced back up halfway the channel. Since the current price is also halfway the...
Since the start of 2016 price has been inside a wedge, price is currently at the top of this wedge and thus provides a nice short opportunity. Price has failed to break the top resistance/trend line level, furthermore this area falls between the 0.618 and 0.786 fib extension zone. Stops should be placed above the resistance level. In my opinion this set up has 3...
I'm sharing and analysis on what's going to happen with GOLD.
This analysis is KEY, because that area of 1305 is really major
and i'm expecting huge sell off on that area.
You can see on the chart many touches on that Resistance/Support
and it respects it perfectly for more than year.
On that area i will be looking for entry on H4 and aiming 1256 (But
I'm big...
The main difficult is how to set SL.If entry @1289,the price can hit 1280,the profit around 90 pips,the max SL-1298!So waiting 1292-1295 to sell ,Put SL -1302,TP1-1280
Gold - Short.
Price is compressed upwoards and at a good support level for short.
1:4,5 RR with a cover (close 50% at 1:1RR) and let the rest run to the target.
As you can see, yields are poised to break above the bull flag; a convincing break would target 3% as a minimum.
Time to buy some moon boots guys and ditch any $JNUG dreams.
The current wave progression seems it is progressing as an Expanding Ending Diagonal.
The wave measures of Wave 1 -3 and Wave 3-5 are also having a 1.236 relationship which just adds on to the evidence.
If this pattern is correct then the market should face strong resistance at the upper channel line and see good strong selloff.
I will update further as this...
Hi guys,
today i want to bring you my view of gold. It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly).
By using a simple AB=CD harmonic pattern and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now.
Here we have two...
Gold Trading around 1273-1274 level gold Strongly Rejected 1280 level and drop sharply and RSI also formed double top if hold below 1284 we can see a drop toward 1260 level where if hold below 1260 then a move toward 1240-42 expected
Advice sell in range of 1273.5-1280 sl 1286 TP1 1260 TP2 1242
Since the beginning of 2000s gold prices formed a typical bubble with four consecutive phases: a stealth phase in 2001-2005, an awareness phase in 2006-2007, a mania phase in 2008-2011 and the final blow-off phase developing since 2012. The blow-off phase is represented by three large patterns: a rectangle, a falling wedge and a H&S pattern. Now we expect price...
As long as the red trendline is not broken on the upside I don't think there is much point in looking at bullish counts, hence I have only discussed the most probable bearish count in this article.
Looks like the Wave B was a double Zig Zag and the Wave C has already started as an impulse down in 5 Waves.
Based on this count the most probable target for C are :...
In my last article I discussed the 2 possibilities or the Wave counts that can take place.
The last article suggested that either the Wave 2 in Gold was completed at 1240 and it has started the Wave 3 and is in Wave 2 of Wave 3.
The second probability was that it was in a Flat correction.
Situation Now :
Gold has attained the first suggested target that is...
