Gold soared $30 amidst geopolitical tensions after a week of consolidation as the dollar index remained near the lows. Gold completed the pattern of Triple Top when it hit the high of $1297 from where it retreated which was on expected lines. Gold can now head higher only if its able to cross the triple top pattern on a conclusive basis. With the pattern completed...
I want to share something I've noticed in these days
1. The gold price runs between MA84 and MA138 on 1 Month since 2014 August.
2. The gold price runs inside a triangle since 2015 December.
3. We are running inside a down channel since 2011 August and get 1st slow done by MA84 and finally supported by MA138 & Fib 50% at 2015 December.
So, after this triangle...
If the gold reaches to 1269$ target, I believe it is a good opportunity to SHORT it. Momentum is getting low (very slowly) so I expect a rise & fall below 1200$ within 23.08 & 04.10.
Gold broke the winning streak as it settled lower by $9 on account of better than expected data from America which fueled up the dollar index from its lows. Gold marginally closed lower from the crucial bullish support of $1261 but even such a minor hiccup might cause the metal to gain plenty of reasons for a corrective move. Though no big moves are expected but...
I already posted this chart 2 days ago.(privately)
We may see a continuation of the recent bullish price movement given that the inverse S H S will be confirmed positively.
What do you think?
Gold saw a rise of more than $25 in the week owing to a weakening dollar index due to poor data coming from America and heightened risks in the global equities due to very high indices which seems to be overbought. The rally was more on the back of technical grounds after it bottomed out near $1200, now retracing back according to Fib levels. If gold manages to...
Very nice setup for gold on the daily time frame. It has broken down from the range and the indicators are also very bearish.
This makes gold a very nice sell for a target of at least 1215 and maybe lower.
Price probably falls to the next support level or the one under it before a wave back up. For the clarity I have also added the other support levels.
TP:...
Im looking for long opportunities in any retracements by hourly or 4 hour charts. Overall , the trend is your friend ;)
Trading isnt about chasing the market , swim with the sharks and follow the trend.
Happy Pipping and good luck , follow me for more swing signals
Hi Guys
$ Dollar is weakening & Gold already shows uptrend in D1.
In this chart you can catch the Gold movement whether it's going down or up in the wedge pattern.
If the wedge pattern break & next candle form & settle out of wedge then you can say it's breaking the pattern.
My pending order will be on BLUE BOX my STOPLOSS 150-200PIPs my ENTRY POINT. But remember RED LINE is SBR AREA so if breakout happen keep for long. If you can see on H4 already got HNS pattern so dont think for SHORT now ..
Gold could not break 1200 level , nice bottom formation.
We can go long just wait for correction of this breakout.
Entry 1210$
Decide TP yourself, I am going long till TP1 - 1350 / 1370 TP2 1550
SL 1200$
GL Guys!
Looking at a 3-Wave Structure in the middle. Has formed what appears to be a Channel.
3-Wave ABC.
High probability of a buy setup for Gold. Currently looking at a Bullish impulse.
Will hopefully reach top resistance level (In Yellow). In which I then predict a short thereafter.
