Gold Trading around 1292 where short Term Resistance seems 1298 where Strong top seems around 1307 if hold below 1300 we can see a drop toward 1262-1274.
In Last Trade we booked 300+ pips now advice to sell pair in range of 1292-1300 SL 1310 above TP1 1274 TP2 1262
use small lot if trade 70 pips Green move sl at cost stay risk free.
i short gold at 1282 for target 1270
why because he have no reason to go up like that when i see usdpy up too and stock marjet not down..so is ok
he is also overbought and even if market start to down in risk off he will need consolidate
For my view is just investor secure them wallet during holidays in case of something happens,but we are not in risk off as i see...
Gold has gone up recent days, however, I consider that is a correction of downtrend. The recommended short area for me is around 1278-1280 when price reach the trend line (note that stop loss above the trend line). On the other hand, if the price break the trend line to form a new trend we could consider long XAUUSD.
I often use trend analysis because I love...
Gold price is now testing major resistance area at 1261 (23.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) and this is a key inflexion level. A strong reaction could occur at this level with the next major resistance at 1272 (Fibonacci retracement, horizontal pullback resistance, breakout resistance level) and our next major...
Gold is seeing major resistance from the 1261 to 1265 area (23.6% Fibonacci retracement, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal pullback resistance) and seems set up for a strong reaction. The next major resistance would be at 1272 (Fibonacci retracement, Horizontal breakout level) and the next major support would be at 1237 (Fibonacci...
Gold will have to catch up eventually because of oil prices moving higher & demand for 2017 that exceeds produced gold (source usdebtclock)... fundamental breakeven above 1100/1150 because of rising oil prices
For the last couple of months gold's been trading in a range frustating for both the longs and the shorts with no real movement in either way. Yet the bears seem to be winning this fight for now. Gold is still following it's downward channel even though it broke it's median line but didn't stay above it for long. Ideally I'd like for gold go down to about 1190 to...
Attention Gold can fell from 1275 1276 1277 CHECK YELLOW LINES 1262 OR 1254...if touch 1254 so you need 1249 STOPLOSS.... After this correction Gold can reversal up trend... My strategy only find double top or double dip so we are looking Buy low Sell high....SHORT AFTER LONG.....
Entry should be 77.6% - Note that it's close to 1300's Resistance
TP 38.2 and 61.8 of CD
Remember these are not signals. These are traded inside a strategy with proper risk management and criteria.
Gold remains in a corrective structure and might soon test its 200MA around 1,260 USD.
If this level doesn't hold expect a sell off down to 1,205 - 1,235 USD.
In this zone gold would be a buy again.
Until that remain patient even though there might be some short-term recoveries and spikes due to the oversold situation that could be confusing.