Gold has been making a solid comeback in the past week, and today it reached above $1800 for the first time since the first week of September.
This bit long-awaited move finally came after weeks of impressive gains made following Wednesday's upsurge, which saw gold preserved its bullish momentum. That is an important milestone that XAU/USD has reached above the...
What happened the last week?
Gold is on a hot streak! Last week, the yellow metal saw some relief as it went up against the U.S. dollar and other currencies worldwide. As a result, the gold has ended its three-week decline.
But will this temporary victory be more than just an illusion? With uncertainty surrounding global energy production brewing into what...
XAUUSD 2021 Mar 29 Week
Gold last week was uneventful. Not much trading opportunities
as price rotated.
Will prefer to just wait it out.
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Have a profitable trading week.
This is a personal dilemma since I do not trade gold just gold mines :)
Disclaimer: simply asking myself how we could see beginning of the 2021 and gold positioning in it so do not base your trading moves on this idea since I am a rookie and trying to only see how trends for gold will run next year...
Feel free to leave a comment what you think will be the...
Price made the bullish move as expected (see previous analysis below). My overall bias on gold is bearish still, so once gold meet resistance and form a bearish candlestick pattern I will enter a sell.
US-CHINA trade tension and Trump's tariff on Canadian aluminum industry, helping safe-haven to rise. Gold already broke historical high. Even USD in pressure against all the major currencies. SO, fundamentally Gold is in buy position there is no doubt here. But, all the technical indicators and tools are suggesting Gold are in an overbought condition.
We need to...
Potential bullish bounce pattern for Gold.
The buy zone is set where the two resistances cross ($1551).
Target levels are:
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you...
I was discussing with other traders in the Gold Discussion ChatRoom about the high volatility of Gold futures these days. My opinion, as stated in the linked idea, is still bullish. When trading commodities and stocks in consolidation phase or with high volatility, I usually check the "On Balance Volume" (OBV) Indicator looking for a divergence. This indicator...
Currently Gold break above the 1480 very key level. We expect a huge upward move here now.
We can easily see that 4h re-test pin bar for entry the trend market.
However, if you miss that opportunity you can maybe wait for some 50EMA on 1h timeframe for a pullback to enter the trend market.
Our first target is 1532.360 and the second target is 1598.2
As I posted in my last "idea", I noted that given the virtual inevitably of monetary policy easing around the world and the race to the bottom for currency devaluation - beginning in this last quarter of 2019, and through 2020 (beginning with the United States) to drive the markets higher - Gold and Silver are set to rise.
Before Gold reaches 1500 I am eyeing...
COMEX Gold futures ended last week on a high note, touching a new all time high for the year at US$1,340.00 before closing at US$1,334.90.
The buying climax was obvious and bulls were determined to press forward the resistance at US1,340.00 but were unable to keep it above that level due to tepid last hour volume.
Price is in a downward trend and has recently completed a Double Top Pattern. It has also broken through 200 SMA.
We enter trades upon break below the neckline and set our profit target at the D point of the Cypher Pattern.
Take note that price is currently near oversold levels so price may rally a bit before breaking below.
IF, and a BIG IF at that, price...
After the previous article in which I discussed how Gold might be moving in a 3 legged correction, it achieved the target 1 mark and then started moving hesitantly in a sideways fashion, now it seems that the correction might have taken a complex structure and quite possibly a Triangle.
Please note that this can also be some form of complex flat structure however...