XAUUSD is half of the way to the profit objective of the giant Cup and Handle pattern that I posted about a week ago. Bullish Gartley 222 pattern formed in the market increasing the possibility of the trade. 3.83 Reward/Risk Ratio. 837 pips of trend continuation profit potential 267 pips of pattern targets profit potential
Does current gold rally follow the parallel channel as shown in the chart to eventually resume down trend?
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Gold has entered its 5 year Resistance Zone (1350 - 1365). This alone is an immediate sell signal. What's even more interesting though (and a stronger reason to go short on Gold) is the cycle that the metal tends to seasonally follow every 1.5 years. The chart speaks by itself. I have distinguished two time periods: 2017/18 and 2019/20. Every time the price...
I LOVE THIS CHART - "SPOT" ON LOL LOL LOL 34 x 340 week
Gold continues in it's downtrend, as it currently completes a corrective structure towards the 1290 resistance level. I will be looking to short gold around the 1290 area if price action suggests so. Therefore, be on the lookout for bearish engulfing candles or any type of heavy selling close to the dynamic resistance (trendline). A possible target is the 1270...
As shown in the chart
Pattern: Inverse Head and Shoulders on 4H. Signal: Bullish if the current candle formation (circle) breaks upwards, bearish if it breaks downwards. Target: 1310 for the bullish break-out, 1268 for the bearish break-out.
Pattern: Potential Rectangle forming on 4H. Indicators supporting the formation of this pattern: neutral RSI on 4H, decreasing rate on buy indicators on 1D. TP1 = 1280 TP2 = 1276
This is an alternative for a possible Elliott Waves count of Gold. As shown in the chart decisive breaking and sustain trading above $1400 may pave the way for much higher gold price.
As shown in the chart
Sell Limit XAUUSD Entry Price between 1260 - 1265 Take profit @ 1250 Take profit @ 1245 ( Target ) Take profit @ 1230 Stop loss @ 1274 TradingView Profile >>> www.tradingview.com Telegram Free Signal Services >>> t.me Gold Trade Myanmar Facebook Page >>> www.facebook.com XAU_USD Historical Data : From 12 Dec 2017 ~ 12 Dec 2018 >> Download...
Gold prices just recently bounced off the ascending channel resistance and i am expecting prices to continue dropping towards the 50% retracement level of 1223.62. Possibly, prices may continue going further down until they test the lower ascending channel resistance. Though i have already entered a short position a bit late, it is better to check price action to...
XAUUSD has stayed near its 1D Resistance levels during the previous week as it continues to work as a safe haven since the global stock markets haven't yet been stabilized. The USDJPY, USDCNY continue to trade high as well as the Dollar Index (although it was rejected again near the 96.15 4H Resistance), so from a technical standpoint, Gold remains a short...
The long term bearish trend on 1W broke last week to neutral grounds (RSI = 47.647, MACD = -20.230, Highs/Lows = 12.0065) as the global stock markets pulled back and capital abandoned riskier assets towards Gold's safety. Technically 1D is a Channel Up (RSI = 65.112, MACD = 5.900, Highs/Lows = 22.9186, B/BP = 34.8019) but we can't assume yet that this uptrend is...
XAUUSD approached the December 2017 bottom levels at 1,236.50 and was strongly rejected higher on a very strong 4H Three Outside Up bullish sequence (STOCHRSI = 94.347, Highs/Lows =3.8071, BBP = 14.1180). With DX still struggling to break the 95.00 - 95.25 Resistance zone and after multiple failed attempts, and the bond markets rising amid a world-wide stock...
XAUUSD completed the 1D correction, hitting all our downside targets, and the Channel Down (Highs/Lows = -11.8500, B/BP = -17.6660) reached the expected 1W support. As discussed on the previous analysis, 1W is on a Channel Up and 1,260 - 1,265 was the extended Higher Low support since the December 2016 bottom. We now expect 1D to reverse for a long term bullish...