The rise in gold is being driven by many deep market factors. There is a strong drive to industrialize by all nations, there is a space and technological race developing between nations, also covid is accelerating this trend with fiscal stimulus from all nations. New (millennials) and life long value investors (Baby Boomers) are converging in a self supporting...
Taking a look at the Intraday price action on Gold in the Asian Session, we have seen Gold pull back strongly on the back of USD strength. This pullback has now formed a bullish double bottom pattern which could open the door for a potential buying opportunity. What we would like to see is that the double bottom holds and that price can manage to break above the...
Target of 1800 Gold was hit. I posted a great setup linked below. Gold known to be the safe haven for protecting and growing wealth has seen parabolic trends before. After the 2008 crisis Gold went on a rampage multi year bull run. In the current economic environment where we see the FED uncontrollably printing money, there is a case for Gold to go on a similar...
As we can see GOLD's Higher high is on 1,815 on the H1,H4 time frame in the Zone (consolidation area) .At the moment gold is on 1797 and there are 50% chances of rebound with corrective structure towards buy direction while maintaining the zone between 1795-1815. In case if its break the support level of 1795 than there will be more chances that gold...
It was an excellent rejection on the H4 time-frame, and last week the market closed above the major resistance at 1765, a good sign of bullish continuation. Fed Chair Powell is going to Testifies this week, US ADP, NFP, Jobless rate, and Unemployment claims will give a strong catalyst. PS: This analysis fails if H4 candle can breakout and close below the...
Spot gold is trading inside the hourly range 1765-1775 for the past two days indicating the investors are not yet ready to book the profit and also an upside break out to test the 1800 handle is highly likely . Investors will be looking for the FED Chair remarks later on today ,although there are fears in market regarding the virus threat escalation ,any hawkish...
FOREXCOM:XAUUSD Hello Traders, before we go into the update click the like button for support of more ANALYSIS. Remember that the GOLD market is not predictive but reactive. Hours ago a DESCENDING triangle was under construction and it was complete. The bilateral PATTERN made a move to the upside with 700 pips. Also a DOUBLE BOTTOM pattern formed, but is...
Plan: wait for the price to bounce off from daily resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. ...
The market goes back down but TWO resistance could limit the fall. And don ‘t forget to take your profits…
The gold price will be placed in the golden zone AND after that in the White Heaven - You know what you have to do, Don't forget to take your profits....
Stopped on Previous Long Bias; current outlook for an upside target. (1800).
In 2001, France put an end to its national currency, the French Francs, to adopt the European common currency, which unfortunately became a single currency. (6.55957 FRF = 1 Euro) Is it a coincidence that during the same year, in March 2001, the OR stopped its long-term downward trend for an exponential upward trend with many bullish excesses? As if gold was...
Here's my analysis on GOLD - ABCD pattern - Waiting for BUY signal in Demand Zone
So The Take Profit Was HIT! Right from here onwards, on the hourly support in the past price has bounced back off to atleast 1700. So lets wait for the new hourly candle and see where this one takes us. If it resists then GO LONG. If it breaks then GO SHORT. It's a simple equation.
high probability to the trend go done to test the support line
It looks like a potential H&S could be playing out on gold atm, Although I personally wont be taking a short trade on it with all going on in the world, bullion is a great store of value against fiat currency and stock markets. More people will be looking for safe havens to store their wealth until the world returns to normal and markets start making a recovery...
The cup and handle is a fairly reliable trading pattern, especially when we see it continue here on the long term time frames. Gold has been building this position for quite some time. For those that are huge fans of this stable asset, the massive amount of money printing that can be seen coming from the FED is a shot in the dark for those who like to hold...
This is a continuation of the last chart analysis posted here(see related ideas below), where we provided two plausible scenarios for our Bullish bias, and our preferred option 2 worked perfectly, as we see the price of this asset rising sharply from the support area provided, it would be fair to say that the next target of 1892 is not out of the question now, but...