The previous Gold TA:
Well, as you can see, the price had a bullish reaction after touching the demand zone, but it could not start a powerful move. So for now, the price should test the 1825-1820 area again.
Personally, I search for more falls that you can see on the chart.
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🗓️20/02/2023
🔎 DYOR
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Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Due to the sharp drop in the price last week, the need for correction is seen . Price correction can continue up to the range of 1850 . We are still below the resistance zone
after that nice move up gold hit a nice order block on the 1hr which was a profit taking area so a nice sell setup on the lower time frames could potentially see a move back up to test 15 min ob before pushing down it it can just push on down and you can get in with a nice low risk sl in place or wait for the better entry either way nice setup here im looking for...
Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
Over the last three weeks Gold had a quite strong correction, however from a weekly perspective gold was quite overextended towards the upside so this correction was not totally unexpeted.
Furthermore we are currently retesting another weekly support/resistance zone, so if...
Will PA bounce off the 382 retracement Fib line, forming point 4 on the Elliots and then go to 5 on the 1.618 ?
The interesting thing about GOLD is that it has formed the most HUGE Cup and Handle pattern and is currently in the Handle and has created the 3rd touch on the top trendline
If PA followa th eElliots wave to point 5, it has broken out of that pattern...
If Gold could break its bearish channel then we could expect the price to go uphill however we could look for a sell position at a higher price.
1910.257 seems to be a very strong supply zone for sell!
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What is your idea about gold?
Hey traders,
Gold reached a solid horizontal key level this week.
The price formed a doji candle on that on Thursday and then a rejection candle was formed.
We see the attempt of buyers to push.
To catch a pullback, watch a falling parallel channel and a minor horizontal supply zone.
I would suggest waiting for a bullish breakout of these 2. It will most...
GOLD is bearish channel but you may find long entry from 1825-1830 area with the target of 1885
However keep in mind FOMC meeting minutes report due on Wednesday US session
Follow Proper Money management strategy
Hi everyone!
In short term, we have successfully followed this bearish price action (see chart below), but at the same time, we have reached an interesting mid term support area which could be used for some scalp trades or positioning.
That said, if volatility does appear, it will most likely be due to the retail sales figure expected in a few minutes.
On the...
Good evening gold gang! Another amazing week on the charts.
As predicted this morning, gold did pull back after the nyse open but smashed through my target zone and made its way to my next level marked in red. I took a loss trying to grab the buys as price consolidated for a couple of hours before blasting off.
There was an entry above the top red level, but...
GOLD #XAUUSD looks like has found support after falling from 1950 area by establishing bearish divergence.
Why this is a good support?
1. 100DEMA resides at 1818. This EMA has been reactive in the past.
2. 38% Fib of the last swing high resides at 1829
3. Horizontal Support area seems to be an important one.
If bulls manages to take support from here; we will...
The gold market dropped from the resistance zone after breaking out of the range. The market broke and fixed below the smalll range zone. The price is moving toward the main support level at 1800 after making impulse moves. I think gold might go down because the price action forming a correction extension pattern. My goal is the support level at 1802.000.
...
Gold is downwards. With Dollar strength , USA tightening its Policy , interest rates hike by FED looming in March, May & June, USD has won the battle of Safeheaven. I am Expecting further downside with immediate target of 1810 and then 1800. Further Target 1772-1775 But this is long-term.
Do Comment on idea and Odds.
Keep Winning
Hello fellow traders!
XAUUSD breaks a key level (50% fib level)
Checklist:
✔Broke key level
✔RSI is in bears possession
✔SUPERTREND is in sellers' possession
✔FIB is passing 50% possibly going for the 23.6% fib (respecting the 161.80% fib rule)
13,550 Pip Analysis
(Take a look at my recent XAUUSD Analysis for more info on the 161.80% fib retracement rule)
Multiple time frame analysis on Gold.
Price action & key levels.
Trading plan explained.
Trading recommendations & scenarios.
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