Gold might be preparing for a complex corrective wave that means the buying area will be near 1740/1748 levels.
don't get me wrong this scenario might not happen and we might see a surge in gold from current levels but you need to calculate the risks of a possible pullback.
1856 is a medium term target with current uncertainty in the capital markets- inflation-...
After the gold fell for a week and the indicators appeared by 88%, we are looking forward to a rise, God willing.
After the appearance of a Squeeze candle at the beginning of the week and a reversal candle at the end of the week, this indicates a high rate of rise, God willing
We can see that Gold has a hard time breaking the resistance line on the Daily .
There isnt enough volume of sellers so there is a very low probability that we will break out of the resistance in a downtrend .
There is a high probability Gold will go into an Uptrend after testing the resistance again .
Simple price action trading. Noticed last week price created a swing high, and based on previous market structure, and the overall market is bullish. Price as already broken through our mini resistance, 5min entry to determine sniper entry, using 50ma, multiple rejection on the 61.8 fib, for me is a strong buy to the next resistance. Will keep you updated.
if it falls and react to buy zone in 1777 (Fibonacci cluster) it could go for targets as shown (first 1827, sevond 1857)
it might the price react sooner and reverse from about 1788, obviously if the move starts from there, targets move higher (first 1840 ,second 1873)
Pig Specs are listed in the Chart, and below:
Entry: Tonight (Before Midnight); ~1810.00
Exit: August 9th; ~1856.00
Should be sweet, but no guarantees.
Gold is looking to continue the uptrend since April base on technical. Last week we had 2 main fundamental news being ADP and Unemployment claim which cause DXY to rise and all pair to drop against the USD. Right now it look like gold is going back up to retest previous high at 1915. Keep calm and follow the trend
Hello Traders TGIF,
After having our profits shorting XAUUSD, Today low nonfarm payroll data showed US Economy is not ready to reach expected rebound.
Gold seemed to finish its correction period and ready to gain momentum to reach my long term targets. Price should stay above 4H MA50 priced 1895 right now.
I opened my long position at 1875 and my short term...
Well, well, well.. what an interesting setup we have here in the realm of the metals. It seems that confusion regarding inflation may have caused price overshoots in different directions for different metals. Two of such that glare out to me are Gold and Copper.
I will structure the write-up of this Pig-Play a bit differently this time due to the inherent...