Hate being repetitive, this is just a midnight, somewhat of a short update.
Getting directly to the point:
a) GOLD , fell out of an upward wedge and was falling down for the major part of today(stopped around the psychological support of 1240*whole number), until it reached the 1.62 ret support of the falling wedge. Short term prospects from this wedge would be...
Gold is consolidating quite long from 28.th of June 2013 till nowdays.
On Forex, on October route 6.7 T USD loss was achieved on global equities market.
I posted on 15.th of November short on SPX (as index fell for 2723-2400). (feel free to check on my twitter).
That's 2676B loss achievend in one month time.
The time has come when all stock indexes will...
We can see where price is currently at is a strong sell area with it meeting resistance and a trend line this makes it a double sell signal.
This is like 2 men sleeping with your wife at the same time, it just re assures you that it is time to "sell" her to the highest bidder ;p
Also yesterday a few hours before market close we really saw price rally off the...
Since its April 23th bottom and May 2nd Double bottom on 4H, Gold has been rising steadily having broken two important bearish barriers. First it broke the first Lower High sequence (dotted line) which since its February High hasn't done so. Today it broke the 4H Resistance on strong technicals (RSI = 62.449, MACD = 1.760, Highs/Lows = 2.4022) as well as the 2nd...
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as...
Seems like a Symmetrical Triangle Pattern is on play for Gold. PA is squeezing between descending top trendline and ascending bottom trendline. Before expending to one way, there is still time and space.
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed...
Early this week Gold rebounded on the 1,266.70 level which on 1W terms is a Higher Low on the long term bullish channel (RSI = 51.902, ADX = 38.770, MACD = 8.470, Highs/Lows = -3.7236) that started on the August 2018 low. If this level gets crossed then this long term bullish trend is invalidated and the price can potentially test 1,200.
On the other hand 1D is a...
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...
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 is again testing the 1,276.50 - 1,281 1D Support Zone, the fourth attempt since January 21st. 1W is now neutral (RSI = 51.224, ADX = 43.282, MACD = 9.820) prompting to a rebound. We can't yet know the exact long term trend on Gold as although the 1,360 - 1,370 1W Resistance hasn't been crossed yet, the bullish trend is intact and for now well supported. We...
As per our previous prediction, Gold has done its down side correction to 1290 , now its time for a long position
So Buy XAUUSD @ 1290.123
T.P @ 1298.231
S.L @ 1288.451
Please do trade with proper fund managment