The new adjustment to the gold/us dollar by the EWA/EWP analysis! There are 2-variants of the price progression in subwave C. Classic impulse or can be Ending Diagonal Triangle!? Anyway: Buy limit - 1073.56, S/L -1069.00, T/P - 1086.00
Best regards! Sincerely yours, Powerful Traders.
Gold's Behaviour May Signify An Upcoming Reversal For AUD/& NZD Pairs
Potential Sell Setup Shown For NZDJPY, Awaiting For More Confluences To Line Up (Especially If Gold Indicates More It Does Not Wish To Trade Above Key Monthly Resistance)
Gold Outlook On Potential Reversal
I will never recommend any one to sell in an upward trend. I personally would wait for price to come back in bottom trend line and Buy again if it does not break out.
Patient is the key of success.
Recent NFP data just pushed Gold to the upward. Recently just bounced off the weekly pivot. LONG if breakout to the upside targetting the potential 3rd test of Daily TL. SHORT if price close below 1134 with immediate target shown on the chart. Stay neutral for now as Gold is constructing it's highs & lows, enter when direction is clear. Have a profitable week traders!
I believe Gold is approaching 618 Fib Retracement which is an important support level with high potential of reversing around this level. First profit target is in the chart. Have a profitable week traders!
if price break,close & hold and close above 1110 with potential target around 1118 area. Potential short-term reversal at 1112.27. This is just an outlook. Have a profitable week traders!
My ideas on gold for a Long scenario - remember I don't normally trade gold. This is for some of my students who occasionally dabble in the commodities scene. Also the chart highlighted on screen is only showing 30% of my analysis. My students will know what else I use as confluence
Possible channel-range for Gold. Perhaps moving sideway until the end of this month? It's best to stay neutral in my opinion now. Do let me know what you think. Happy trading and have a good week traders!
Gold is at a short term resistance and bearish candlestick pattern has been witnessed on hourly chart. I suggest to got short with very tight stop loss .
