Gold against Dollar, XAUUSD weekly analysis from June 1 to 5Weekly chart suggest a bullish week with a long tail pinbar at the Ist week of June, may the bulls take control on wednesday before the price retest the area of 1720, and push the price higher to 1748 area ..where it finds the resistance zone at 1751 area and may bring the price down to 1738.. it may the roller coaster experience this week on price action for Gold.
Note - Analysis based on Technical aspect, it may subjected to differs when fundamentals involves...
GOLD/AUD
Gold (AUD) daily chart-Symmetrical triangl's,Ascend/Fallin'WedgeGold (AUD) daily. Symmetrical, ascending, fallin' wedges. However, bullish uptrend intact.
With unprecedented Unlimited Fed QE , expect a big rally in Gold and Silver over the next 3 years (as occurred after the great Fed QE from 2008-11).
Silver (AUD)- Monthly chart. Forming Double bottom.Silver (AUD)- Monthly chart. Potentially forming a Double bottom.
Note over head resistance (yellow line)- 4 failed previous attempts.
Yellow line also coincides with 38.2% Fib retracement from the 2011 highs. So a very important line to break to complete Double bottom.
BUY OPPORTUNITY FOR GOLD
GOLD
I think that this is the logical scenario now.
With the release that Gilead`s vaccine doesn`t work very well, there is no positive sentiment on the market.
Gold for example show`s us, that there is a risk for the economy to collapse more with his price which goes north.
I bet that with aproximately 26 000 000 jobless people searching for help only in the US there will be no fast recovery
how some of the big banks expected.
Stay home, make money and don`t inject disinfectant in your body
Have a profitable crisis
GOLD Trade idea as Sell-Setup loading!Gold has reached the resistance line a confluence parameters and is near the top resistance level of 1680. However I expect a fall from consolidating resistance to 15xx As inversed pattern show. Although perhaps the price will reach the level of 1680 before dropping to the support line at the level of 1600. Please also comment, like follow me and share your ideas on this particular pair too. thanks!
GOLD/AUD - Short Term LongI have not published in a long time. Lots of hours in the trenches, and with a friend we are testing a new oscillator combined with price action that is working well.
This trade was taken on the m15 time frame, TP set at previous H4 structure.
You'll be seeing a lot more posts of my entries moving forward trying to keep the charts as clean as possible.
Gold daily in AUD- Rising wedge.According to Bulkowski- 60% probability of downward breakout, 40% of upward breakout.
As for downward breakout for a falling wedge, one of the worst performers, with 72% probability prices will retest breakout point (throwback).
As for upward breakouts for falling wedges, far more likely to be fruitful with far better performance, according to Bulkowski.
5th wave - The Final Extended RideGold's third wave was normal(on Weekly). This will make 5th wave extended.
Therefore, long is for sure.
However, the question is where should one enter for min risk and max loss.
I have used Ichimoku strategy to place my entry. SL just below the current low on daily. If SL hits we exit and wait for another re entry.
And if everything works out as planned exit when Awesome oscillator turns red on weekly.