Signs of Bullish Gold in the Next Hours
- Recent 1 hour bullish candle
- Weak Oil
- 30% Bounce from 1580 (fibbs)
- Exiting the bubble
- RSI Divergence at Oversold
Please LIKE, COMMENT and FOLLOW if you like my geometric trading analysis.
SL 1670
First TP 1710 (if exceeds 1685)
Second TP 1740 (if exceeds 1715)
Alright! Lets go! Thank you!
Gold has had quite a surge in price but oscillators now show bearish divergence, the price is overinflated and will soon correct to probably $1500-$1490 levels.
Note the respected 1512 level marked and how a candle pinned the level and the yellow bar I was waiting for price to reach.
1. Rejection candle
2. Second candle is an inside bar
3. Top bollinger pinned
4. Capped trend line holding
Ideally the confirmation will be a breakout from the inside bar pattern to the down side, this is where I will look to open my short...
Hey tradomaniacs,
welcome to another free signal of Week #40 NR. 3!
How to trade: Wait for the market to retest the trendline and horizontal resistance.
After rejection we can sell!
IMPORTANT:
Today we`ll get to see the Non-Farm-Payrolls!
Why is this event so important? Because one of the most important topics for the market is the...
Gold consolidation during the Tokyo session has set us up nicely for a short this morning.
I will be going short and out before the US open, re-await direction and see if any opportunities arise from the fundamentals.
Stay Green!
Too bad I missed the exact entry at 1435. But there's plenty of room for gold to drop now up to around 1335. Looking at it from the long term perspective I'd say gold is in a Bear market rally which will take it to 1700 maybe.
So for this trade the entry is: 1425
Stop loss: 1439
Take profit: 1355-1335
Here you can see my trading channel of XAUUSD. We have NOW a BIG Resistence and we will go SHORT. If XAUUSD will go through our STOP LOSS we have another position to go SHORT. We do not have a UPTREND, here we have a DOWNTREND with lower lows and lower highs. So take a SHORT and take the Money :D
Your Mikl_Owl
Gold is trading in a triangular pattern at the moment and seems bouncing lower from a resistance level of the upper band. The trigger now is FOMC meeting and rate decission. Shorting gold for relatively quick trade.
It seems that Gold has just completed or is propagating in the Wave 4 of a larger degree up move.
The strategy from a positional perspective is to Buy on Dips and very huge upside still remains.
I will update further as the market progresses.
