Very interesting to see how gold will play out big push to 1915-20 then explode to the downside we will see over the coming weeks , Sellers await at the 1920 level .....
I have been trading the bullish pullback on gold and believe that 1525.00 was my last stop for the bulls.Have sell orders from few days ago, waited for price to top out at 1525... now that this was spotted as my high I drew my fib from my high at 1525.00 to my low at 1516 got entries in at 1524.25 just above my 88.6 retrace... looking for price to break bellow...
Thanks for your feedback! Much appreciation Can we all agree That XAU/USD was a good trade!! target 1 was smashed target 2 missed by few pips . Hope you guys banked your profit!! and i will post an update about any potential Gold setup currently we want it to move to 1490 for a potential short
The market has open inside no trade zone, but expecting a price move up, for confirmation wait for the break of above 1466$ level. However, if the price falls below 1440$ will go short
XAU is moving toward longer term 'D'. Big Diamond in play (Fib ABCD pattern).
For a major upward movement the price is required to decline around 1450$, as currently, the market is in a downtrend
XAUUSD Technical Overview: Pivot: 1196.20 Key Resistance: 1200.55 - 1204.25 - 1207.89 - 1212.66 Key Support: 1196.20 - 1193.55 - 1191.89 - 1188.29 Day Trading Range: 1205 - 1188 Technical Indicator: RSI: RSI indicates upside bias with 52 level. Moving Average: SMA 55(1200.54) , SMA 100(1202.22) & SMA 200(1201.43) these all are major resistance for Gold...