Gold normally melts at a temperature of 1,064 degrees Celsius... it must be that hot in the charts ;p because gold seems to be going too HELL at the moment with no real signs of it slowing down and no real support points can be seen, Technicals have just flown out the window with gold at the moment.
So we remain bearish bias at the moment and have been holding...
we are informing you from months about the possible decline in the precious metal sector and right now what you are witnessing is just a beginning of this fall absolutely not the end. Please, note-We as a GoldSilver-Analyst are involved in precious metal trading since a long time and yes we have seen it all in this market The Good, the Bad and the Ugly....
Asset: XAGUSD ( Silver )
Sell Stop Entry Price:15.000
Take Profit: 14.00
Stop Loss:15.60(we will reduce the stop loss points once positions will be more favorable)
(we can adjust (limit, close or even reverse) the position before this price level is reached)
the market has closed and trading below 1280.0 structure resistance.
After breakout the market has retested the broken structure and now goes lower.
the next support is 1260.0
the second support is 1240.0
we are informing you from months about the possible decline in the precious metal sector and right now what you are witnessing is just a beginning of this fall absolutely not the end. Please, note-We as a GoldSilver-Analyst are involved in precious metal trading since a long time and yes we have seen it all in this market The Good, the Bad and the...
Gold has fallen quite a bit since it reached it's highest peak of the year at 1346-1347$ in February. However, the bearish market took over and has pushed it down to it's 3x tested support trendline around 1267-1268$. Now is looking like a good time to buy in as Gold should bounce off the trendline into either it's previous swap level (support turn into...
Gold is still a long term swing trade for the short.
But a harmonic has formed to confirm a pullback is about to begin. Going to take this one to key levels instead of 4hr TPs this round.
With so much bearish pressure last week price has come to a standstill and is just ranging, Bears are also failing to push price below our support zone ( green box ) So we are waiting to see what price does, if price breaks to the downside we will see further bearish momentum, but if the bears are exhausted this could mean bulls are ready to take over and we could...
Gold would probably downward to 1269~1267 today, so try stay in short side.
1277 is the relative defense of short position, if gold can't rise above 1277, then continuing short gold without doubt.
Have nice trading day:)
Price is in a correction since making a top at 1346. After finding support at 1281, price bounced back to 1311. However, that bounce looks like a bear flag that once breaks down will push price to a lower low than 1281.
Technical picture indicates:
- A bear flag
- Lower lows and lower highs
- MACD posture is bearish
- RSI not yet oversold
A potential head & shoulders pattern can be spotted in the 1-hour chart. If price goes down from potential reversal zone to test the neckline, it could be possibly a right shoulder.
A safe trade would be waiting for the right shoulder to form, and then you enter the trade after price goes down and breaks the neckline.
However, you can try to catch the top of the...
Gold has been declining since mid February and the 1,346.79 High. If this pull back has been purely technical then the important test on the 1W chart has arrived as the price is on the Higher Low region.
What is more interesting is that last time Gold tested a weekly Higher Low on a similar pattern was in December 2017 and the rebound was so strong that gave way...
Gold made a year low at 1271 last week, and it has rebounded to just under 1280 since then. A possible inverse head & shoulders pattern is spotted on the 1-hour chart. The neckline of the inverse head & shoulders pattern stands at 1280. A confirmed breakout above the neckline can lead to further pullback to supply zone at 1287-1290, which is the MA(200) and last...
After a bearish breakout of a major support level
bears are exhausted and the market starts a correction cycle.
Head and shoulders pattern is a clear indication of bears unwillingness to go lower,
so we can catch a pullback.
Buy the breakout of a neckline.
Targets based strictly on structure.
Find more analysis on gold in...