OANDA:XAUUSD
FOREXCOM:XAUUSD
Gold analytical series, Episode 07
Hello Traders, First take a look at my previous episodes.
Don't forget to risk-free your positions.
Please share ideas and leave a comment,
Let me know what's your idea.
CrazyS✌
Gold quickly declined, almost as fast as it rose during the FOMC Meeting on Wednesday and hit the MA50 (4h).
In addition, it touched the top of the formed Wedge, on a similar price action as April 10th.
Both strong buy signals, considering that the long term pattern is a Channel Up.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 2070 (top of the...
i think it has completed minor complete wave if so should give abc down move from now on we will see. if sustain above marked levels will analyse again for now great time to book profits for short term trading only will be posting a weekly wave cycle chart also have a look on that for a more longer term picture for gold
As I've mentioned yesterday, long-term bullish moved 5 high points, but 4H only 2. Critical points on NFP day will be 2020 and 2060. Short-term pattern (5&15 minutes) so far show a bearish move targeting 2030 & 2020. Cricital support is 2020.
No bullish chasing if gold moves to 2060-2070 because it's already 3 days with green candlestick.
* 1st resistance: 2060. ...
Hello traders,
GOLD is setting up for a upside move watch GOLD according to your own trading system and look for a long position opportunity.
Currently i am looking for corrective structure, if price show me a corrective structure then i will be looking for a long position around 2011 level and there is also 0.618 fib.
This is just analysis, not the exact trade...
XAUUSD reached the top of the Channel Up and as the 4H timeframe turned overbought (RSI = 66.415, MACD = 15.310, ADX = 35.525) we should see a technical pullback to the bottom. Apart from the 4H MA50, we expect this pull back to be of a minimum -3.75%. With the 4H RSI on clear sell territory, sell now with TP = 2,005.
Prior idea:
## If you like our free...
Gold is nearing 2 resistance zones.
Light Resistance: 1808 to 1826.
Heavy Resistance: 1826 to 1842.
Above 1842 Gold can rush towards 1880.
Supports for Gold are at 1784, 1777 and 1753.
Welcome . According to my analysis of gold. There is a high probability of falling today. With the price reaching an important area. Where an upward channel has been formed. Gold failed to breach this channel. Good luck everyone .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and...
Price is currently in a Bullish overall trend direction, with a lot of news being released over the past few weeks price has seen some incredibly strong momentum to the upside.
Price has broken out of the 1hr trend line that it has been hanging onto for the last 30 hours. A retest can be seen after the breakout. This showing good potential for buyers to move...
MCX:GOLD1! TVC:GOLD OANDA:XAUUSD
GOLD - Where to next?
Well, as we had CPI out...5% - Dollar is getting sold it's what I expected but I am focusing on precious metals, we are heading higher but we are at key resistance. Highs 2050 lows 1980. we still within range a break below lows expect 1950 areas. However above 2050 highs, gold can easily achieve 2080...
Hey Everyone,
Okay for those of you who have only started following this monthly chart that we have been tracking, please review all the previous updates below as we continue to track this level to level to get upto date.
This has been playing out perfectly and now we finally have a candle body close above 1976 on this monthly chart, as the month closes. This...
Long-term bullish trend successfully reached the 5th high point. In most cases, a big retracement will be happened after 5 waves finished. But short-term (4H) chart shows only 2 waves up. Most of our buying orders of 1810 and 1970 are closed at 2069. Waiting for retracement down to the support 2021 or 2011 if 5 waves of 4H could achieved. In this pattern, I should...
Well, as you can see, after yesterday's analysis, the price was able to grow up to the range of 2020$ with a strong jump, now the price faced a price correction after reaching the Great Supply Zone that I had marked on the chart And it fell to 2007$, in case of Consolidation belos this level in 1H TF and 4H TF , we can expect the price to drop to lower levels!...
Last day after news, gold jumped and moved to 2010 level and later it hit 2020 level. Now It's almost 20 plus hours it is playing on the same area and RSI is forming a straight line. This move was totally based on fundamentals. As per my previous analysis I told you in last week on Monday that gold will be in a range. Now it looks like it has broke the range but...
For the last 3 trading weeks, Gold was trading within a horizontal trading range on a daily.
The price formed a high momentum bullish candle and close above the upper boundary of the range yesterday.
Technicals currently are supporting bulls and I believe that the market may bounce to 2040 level easily.
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4H chart shows the strong support by 1970-1975 zone in long-term bullish trend. As I've told before, long-term bullish trend still short of the 5th wave with a higher target of 2069, even though the short-term retracement down to 1970-1975 for more than a week.
* 1st resistance: 2049. 2nd resistance: 2069.
* 1st support: 2000-2005. 2nd support: 1975-1980.
• Gold is highly benefitting from the fear and uncertainty in the market which is likely to persist
• Markets are again assuming a recession coming
• Banking sector latest dilemma is adding to the fear sentiment
• Rising interest rates, hard landing caused by FED continuous tightening policy along with signs of stagflation all add to the bullish price action...
