gold has been overall bearish on the higher time frames. this harmonic pattern goes in line withthe overall trend direction. i thought i posted this idea but i guess not. first tp of 38.2 has been reached and awaiting for 61.8 tp to be hit. stops are break even now.
Note: Gold, XAU/USD Gold follows what we predicted previously. Gold having price correction to 20-EMA now. Overall, we are still bearish on this pair! There are 4 trading plans for this trade: 1. Since the price pullback to 20-EMA, followed by a bearish signal, good chance to short with little risk. 2. Wait the price pullback slighlty further to support zone...
Proper structure for short after confirmation.
descending channel on monthly. Middle Line crossed down-side. possible Supports ahead 1. 1040 which is previous pivots, fibo bounce zone (127%). 2. 950 which is the channel bottom line and stronger fibo bounce zone 161% golden percentage.
You have all reason in the chart guys! Like if you agree, follow and support please!
Note: Gold, XAU/USD Congratulation to those who short this trade as per our analysis last week. Overall, we are still bearish on this pair! There are 3 trading plans for this trade: 1. There is a weak pullback sit on 1134.x level, if bearish signal appeared, short it with right risk amount 2. If the pullback continue, wait it touch the 20-EMA and short it...
Note: Overall, Gold is on BEARISH trend. It managed to break the recent support zone. Now there are 2 ways to short this pair: 1. Wait for PB to the support zone and short it with right risk 2. Zoom into H4 or H1 Chart, wait for PB to touch 20-EMA and short High Risk to Reward Trade :) Watch the FED FOMC, it might be the driven force to get it down further!
XAUUSD - short idea - at 1155 Stop - 1160 Target 1100
Can't see any support here. The 38.2% (1171) has been breached, next stop 23.6% (1122). It is, however, oversold.
Gold trading around 1168-69 and could hold above 1180 as its trading below 1192 levels Still bear are very active in market and push Gold towards 1120-25 level may b same week Closing above 1198 may call for next station till below 1120-1125 on way Advice sell in range of 1169-1184 sl above 1192 TP 1125
There is a potential Bearish Bat in Gold completing at 1215.09. Stop is above X, targets at 38.2 and 61.8.
Gold continues moving downward. There is a significant support line near 1183 level. Only if it breaks the support line strongly, we will look for chance to short. Either short directly or short after weak pull back. Trade safely with proper risk management skill :)
Gold Trading around 1186 level and fail to hold above 1205. which was strong support now its strong resistance. Gold below 1205 may call for 1150-60 even 1120 too. Advice to sell gold in range of 1186-1198 sl above 1207 TP1 1155 tp2 1138