Gold found Support at 1,445 and the 1D Channel Down (RSI = 44.921, MACD = -8.910, Highs/Lows = -1.3722) priced its Lower High. Based on the previous time (September 18th) it bounced on the Lower High trend line (dashed) it increased by +3.60%. With the 4H MA200 (orange) however limiting its upside to 1,500, we are setting a 1,490 Target on this bullish leg. You...
This is my view on Gold for a short term pullback into 0,382 Fibonacci retracing AB at 1472.
Below how AB looks in the daily chart and where 1472 is.
Please also click & play the following chart prior of making B (above)
And this is the...
Though selling pressure is weakening right now
you should remember that technically the market is still trading below the recently broken level.
if you are on the buyers' side and expect growth, let the market return back above 1464 level and only then take action.
*please, like the idea and leave a comment, it really...
XAGUSD - Elliott Wave Technical Analysis
Structure & Degree: Primary Degree Complex Correction (W)(X)(Y) (purple), Double Three
- Intermediate (W) (purple): Zig-Zag with a 5-3-5 sequence in its Minors ABC (red)
- Intermediate (X) (purple): Double Three Complex Structure
(conflict of trending degrees, corrective upon a correction)
Minor W (turquoise):...
Green area consists of:
1) Fibonacci Golden Ratio 62%
2) Fibonacci Extension 127%
3) Middle number 16.500
4) Daily & Weekly EMA200 are around the marked area.
5) 2X AB=CD!
6) Channel projection
7) Let the bullish price action around the green area guides you into the trade!
16.500 is the key level, wait for a smaller timeframe candlestick patterns after the...
I was asked a lot to post some updates on gold.
Currently, I don't see any good opportunities for entry.
It looks like bears will keep pushing the market lower.
The first area of support on focus will be around 1435 level.
This area is based on the rising trendline on a weekly
+ 1.272 extensions of the previous bearish...
The gold price has started to approach a possible buy area. I'll wait for a tiny bounce because of the quite sharp movement downwards and I act after I have seen bullish price action inside the green area.
Criteria count is not so high but the price level (inside the marked area) has worked historically pretty nicely and I expect that this time is not an...
Hello Traders! Witaj!
We play with Smartmoney concepts, that means that we focus mostly on price action to determine what will happen in future.
As we all know, price is moved by BIG players: Banks, Institutional traders, HFT bots (we call them all of them SmartMoney).
They can't play as we do, cause of a HUGE lot sizes, so cause of that they need to SELL to BUY...
Gold had a big drop last week, starting Monday and continuing until market close of Friday due to minimisation of long positions from big players in fear of trade talks and more bearish outlook.
Signals more of a bearish outlook to start the week, selling pressure could continue to see us drop to 1450$ per ounce or further, as well we could see a pullback first...
very peculiar situation on gold.
analyzing the structure on a daily chart it looks like chances are still high that we will see a pullback
from current levels 1453 - 1460 and I still keep my long active.
it looks like selling pressure is also accumulating.
if bears will manage to break below the...
We saw a big sell-off on Gold yesterday initially down to 1500$ support then a break and down to the lowest support within the range we have stayed in for the last few weeks.
I would suspect a move up to baseline 1500$ over the rest of the week.
Hi, Traders ! Monfex is on the air !
Silver's price seems to be shaping out the Bear Flag pattern. Short is active!
* The price of silver (XAGUSD) has drop sharply from $18 to around $17.60 on Tuesday's trading session.
* FOMC decision to cut interest rates and weaker-than-expected PMI data from China couldn't restrain Silver's price from falling.
Gold is currently pulling back after being rejected near the 1D Resistance (1,520) which has been holding since October 03. At the moment the 1D MA50 (light blue line) is acting as a pivot.
Based on a similar candle and RSI action behavior (February - June 2019) we may be on the last Lower High before a very strong parabolic rise, similar to what took place when...
Gold is looking like it will fall back to the 1500$ baseline at least, from here we can either break support and head down to the sloping daily trendline or bounce back up.
Either way has good trading opportunities, all we need is some energy in the markets.