Price is making LL and LH supporting DOW THEORY. Price has respected the 0.5 fib level and was rejected from major resistance and formed a bearish candle.
Considering that this commodity has a strong resistance zone (2400 - 2420) and it has failed to break it, it means that the bears are dominant.
I am anticipating that the price will continue to form the falling flag pattern so that the bulls may finally gain momentum and break the resistance.
Target Profit - 2280, Stop Loss - 2390, Trade Entry - 2375
Risk-Reward...
Price has gone dramatically up for 10 days straight.
Lots of FVGs Below and Price must Refill this Because we are talking GOLD (Xauusd) not some Low Caps Crypto so Price Must go Down to Fill Orders and take Liquidity.
We have CPI coming today March 12 (Tuesday)
Feds aren't going to Cut Down Rates Immediately and we see a Big Gold Retracement.
Worst ...
Yesterday I took nice trade which worked out great.
My bias is Very bearish unless I see BOS on the Daily chart,
Will we see 2016 or even 2006 this week ?
I will allow my trades to have a lot of room for breathing and will observe any potential reversals to get out before TP which currently are set at 2025, 2016 and 2006.
Both 2016 and 2006 will be observed...
On H1, the EMA technical indicator clearly indicates an upward trend. By using Fibonacci, I anticipate that gold will soon reach the 1.618 level, which is $2053, thanks to the strong support from EMA and the previous market breakout above $2030. As long as gold maintains this level, it would not be surprising to see this scenario unfold in the short term.
All...
Hello dear friends!
Currently, in today's trading session, the price has completely escaped from the previous parallel downtrend channel. At the time of writing, precious metals are still below the supply zone of $2,038-2,042 and are trading within the familiar range, with the last support level at $2,015 that needs to be protected by the price increase.
In the...
As you may know, DXY movement will have a strong impact to GOLD, xxxUSD pair.
From H4 timeframe, we can see that DXY got breakout from strong resistance to upside. Meaning there will be a SELL pressure to GOLD, xxxUSD pair.
For GOLD, price got rejected as resistance + double top pattern got breakout.
We should consider to look for SELL entry in smaller...
Based on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Please check the linked ideas for more context.
Gold has shown good bullish impulses during the previous two weeks or so. However now it's kind of stuck in this messy range. And though it's saving its bullish potential, I would wait for more confirmation and actual bullish price development.
I want to show this market to remind myself what's unclear for me, and...
Hi guys, I'm back with this week first analysis. As always I'm gonna keep things simple.
So price did react to my sell zone on last Friday and started selling off, currently price is reacting to the broken resistance(1992) which has turned into support level. I have multiple demand levels, the immediate one is around 1982-1980 which I wait for price to reach...
Hi Guys,
I'm going to update my analysis on gold. Yesterday after touching our demand level at 1964 price rallied up more than 200 PIPS which was absolutely amazing. Now today I'm back with new setups.
Area 1979 - 1977 is an fresh area which has not been touched yet so price could react to it and give us a good trade. If price passes through that next area...
Looking back on yesterday:
USD/JPY fell nearly 300 points in the short term
The U.S. dollar index DXY fell 53 points in the short term
⬆️⬆️⬆️
The above data pushed gold up in the short term by US$9 to around 1830, but it never remained at 1830 and fell back to around 1820.
Today's non-agricultural data Zenobia forecast is positive for gold.
Trading plan for...
After the big drop due to the FOMC gold created a bearish breaker on the 4H and left a liqudiity pool on 1h coming to next week I'm expecting it to go higher to take the Buy side liquidity before going down, I prefer sell on this market coming to next week
My weekly/daily analysis of XAU USD heading into next week.
A bit of wait and see for me, want to see more Daily PA before I can have a clearer idea of what the Weekly might want to do.
Yesterday, we sold at the 1937 resistance level, but the price subsequently broke to new highs, resulting in a -30 pip loss on our 1937 sell position. With the price now above this former resistance level, we anticipate it to act as a new support. Our strategy is to initiate buy positions at 1937 with a stop-loss set at 1934. As previously mentioned, our target...
Suppose I am a forex trader who trades both gold and oil among others. I am aware that
gold is now rising and oil has already risen. Should I sell out of oil and buy gold? Here I
use TradingView tools to give guidance to the best approach.
On the daily chart, I have dressed out the chart with a long anchored VWAP and its deviation
lines along with the price...
Gold has been shunned by investors, but many are now questioning if the yellow metal is nearing an inflection point, for a potential turn, or should we position for further downside.
With US growth likely at a peak and as good as it gets, gold longs partly flushed out, positioning paired back and sentiment as bearish as we’ve seen for years, could we be seeing a...
