The bottom in the precious metals has been forming since early 2016. As you can see from the chart of the ETF for the gold miners, GDX, it had a quick rally that year and then went into another sideways pattern until January 2019. Now the chart appears to be getting ready for a stronger up-move.
You can see that a long, bullish potential inverse “head and...
CADJPY, bearish divergence formed for selling. price testing monthly resistance area march 2019 84.00-84.10. suspect fall reason seasonal strength expected in jpy pairs soon.
hey traders,
I am still looking for short trade on gold.
and now I have found one more potential selling area!
I have projected a falling trendline based on the two recent market highs.
As you can see the market is approaching this line once again right now.
Looking left we also can notice that here we have some minor resistance level.
ATTENTION:
to avoid a...
hey guys,
watching gold on a daily we see that the market is approaching a significant level of resistance.
on lower timeframes, we see that the market is trading inside a rising wedge pattern,
and we see a steady volume contraction as the market becoming closer and closer to resistance.
your plan for gold is to wait for a bearish breakout of a rising wedge -...
As you can see gold in h4 chart it is on its major resistance and market has lost it's bullish momentum ready to come down use money management and divide lot into several parts each with variety of TP's
Pattern: 1D Triangle.
Signal: Bullish as the price has rebounded on a Higher Low. Also the 1D Support Zone is just below.
Target: 1310 (Lower High). If the Triangle breaks higher then 1321 and 1345 can be used as extensions.
hey traders,
I was so surprised that so many people struggling with gold analysis.
Indeed, watching the gold chart on the daily, it is difficult to make the exact projection.
however, if you ask me where the gold will go next,
my simple answer will be - I DONT KNOW!
however, for next week I give you a set of conditions to be met
to easily identify the market...
hey guys,
4 winner in a row on gold already!
our next great trading opportunity is this harmonic bullish cypher pattern.
the problem with this cypher is that we have just seen a massive selloff from 1324 level,
so sentiment is very bearish.
to execute a trade properly we will need a confirmation signal:
f.ex, any reversal pattern on a lower timeframe.
for...
hey traders,
on gold we have completed bearish abcd pattern,
with dodji candle confirming the reverse.
my initial target is above 1304.0
and stop bit above 1328
good luck!
hey guys,
XAUUSD is approaching a decent resistance area,
instant rejection of this zone with clear RSI divergence gives and indication of weakening bullish momentum.
if we see a bearish breakout of a rising channel,
with high probability the market will retest the low and continue even lower.
next level of support on focus will be 1260.
good luck!
Pattern: Fibonacci retracement to 0.382.
Signal: Bullish as a similar fractal points to a bounce on a -4.61% pull back from the top.
Target: 1345 (the previous top).
Pattern: 1D Channel Up.
Signal: Bearish.
Target: 1310.
The price is getting closer to the 1M Resistance at 1365. Last time this level was tested, Gold consolidated inside 1300 - 1365 for 3 months. See how perfectly the Fibonacci levels (on yesterday's top) align with the horizontal price action and the Higher Lows of the 1D Channel Up.
Pattern: 1H Channel Up, Higher Low at 1320.54. 4H Support at 1315.86. 1D Resistance at 1326.24, 1D Support at 1302.35.
Signal: Bullish on the Higher Low and 4H Support.
Target: 1350.
Gold has been drifting sideways in a tight range between $1305 and $1314 levels respectively on the daily chart presented here. Looking at the lower degree wave counts, Gold might have formed a meaningful top at $1326 levels and subsequently produced a 5 wave drop towards $1302 levels earlier. The price action since then has been corrective and has managed to test...
Gold prices completed an impulse at lower degree yesterday with prices forming fresh lows around the $1302/03 handle before pulling back. The lower degree counts are still suggesting that the pullback is not complete yet and there could be another push higher towards $1317 handle before bears could take back control. As we have been discussing this earlier, the...
