Opening a trade right now will not bring good results, so it is better to wait for a while.
In the short-term consolidating movement is breaking down, gold is continues down, but price supporting at 1620 and forming a bullish candle.
If this short term rally in gold is rejection at 1648 and a forming bearish candle , I will opening a short trade.
If this level...
GOLD / USD
Gold is following my last 3 analysis in row! and now made a confirmation for more upcoming bearish movements
We are looking for a retest of previous support and then a further drop to 1550$ first support and 1350$ second support
Best of wishes
As you can see, price is still within the swing range and found support above 1620 Goldturn on market open. We then used our VIP intra-level cross and lock above 1630 to take a buy with a TP to 1638 below 1639 Goldturn for a safe exit, which played out perfectly BOOOM!!! Although we saw price go above 1639 Goldturn, it failed to close above this...
Traders and investors,
Gold has been falling for straight 6 months. Now that on the monthly time frame XAUUSD has broken the mid point of potential M pattern, it can try to retest. However it all depends on how it closes this week and month. So watch it closely.
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1. Never trade too much
Technical Analysis Chart Update
XAU / USD ( Gold / U.S Dollar )
Time Frame - M45
According to the Pattern in Long Time Frame #LTF H2 we have Bullish Channel and its Rejecting from the Lower Trend Line #LTL
It is also following Bullish Channel in Short Time Frame #STF
Buying Divergence in RSI
We need Rejection from 1632 - 1624
Gold price rebounds from 2 year low $1621 and currently having a pullback. $1620 are seems to protect XAUUSD immediate break to $1600 support. A break below will trigger fresh lows for the commodity with targets $1570 and $1530. We expect a short-term pullback to $1644.
As you can see, the price entered exactly the range that I had specified on the chart. it reacted positively! Currently, after reaching $1626 and its positive reaction, the price is trading in the range of $1646! Up to this moment, the price has moved exactly according to the analysis and the next targets will be $1654, $1674, and if these 2 levels are broken,...
Gold tested a new 2-year low yesterday. Back from the weekend, gold has dropped to the early low near 1626 in the Asian session. However, the price has quickly rebounded. At the European session, it already reached the day-high at near 1649. Selling resumed in the late US session, where the day ended near the day-low at 1622.
The overall trend in the...
Watch & learn what to expect from Gold this week.
Detailed technical analysis.
Price action, key levels & potential scenarios.
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Taking a look at the 4H timeframe chart, we can witness the beauty of price action. Accumulation+Distribution phases, a massive descending channel and many other details. Mr. Wyckoff was not the only person enjoying this incredible art. Any individual that is a fan of naked trading and of monitoring the price decline/grow gradually, will spot...