Possible? Outcome (1) - might test the support as mentioned in previous analysis and continue to reach approx 1817 Outcome (2) - if px goes below 1804 mark and support fails to hold, analysis will be as per previous post Would not short or long now - wait for better entry timing Do share with me your analysis.
Gold is unable to break above the 1780 level with confirmation and is forming hanging man candle. Looking for a most probable failure and a pullback lower
Let's talk about GOLD! I rarely trade gold on moments such this but let's analyze this pair. The NFP numbers were decent, today we saw a big fall in the price due to the fact that the 2509K was much better than the forecasted -7750K BUT ... The actual situation of US doesnt seem good. From a technical point of view , we find ourselved at a very good support...
So I was saying XAU/USD is a bearish we just have to wait for confirmation from the oscillator, stochastic (5,3,3) have shown a bearish hidden divergence. SHORT CONFIRM and RISK MANAGEMENT IS KEY.
GOLD- GC1! - XAUUSD - M30 - Intraday Analysis - Bearish Gartley Pattern We are in a Major Bullish trend , but the price made a bearish reversal and we are now, waiting for a pullback and expecting that the Bearish Gartley Harmonic Pattern is completed @ the 0.618 Fibonacci Level to enter SHORT. Our target will be the 0.236 Fibonacci...
GOLD LONG TRADE MARKED ON CHART PLEASE DO YOUR OWN DUE DILIGENCE AND ANALYSIS, TRADE AT YOUR OWN RISK
XAUUSD long to 5 waves, because waves 3 to 4 have simetricaltriangle pattern, then up to 5 wave (1.272 Ext). i use fibonacci relationship for calculate Targets. you can buy in 1680 or 1687, then TP 1. 1720 and TP 2. 1751, SL 1670. *NOT 100 %, but you can use this for learning.
Bearish divergences on the weekly and RSI dropped out of a rising wedge and retested it.
Traders,, Gold has been pretty consistent with our technical analysis. We took 3 positions in last 2 weeks which worked out exactly as expected. More opportunities are coming on Gold. Support and motivate me by hitting the like button, subscribing to my channel and sharing this analysis with other traders. Comment below and let me know what you think of this...
This is a continuation to our Gold trade back in May 2019. July 2020 will be when gold will start being back in demand. This sell off is mostly a result of cash strapped countries needing liquidity.
We are currently in 50 % Fibo correction from last movement. The levels around $1616 will act as a support and we will see new raising and new higher levels. The main resistance will be previous top at $ 1700, the next one will be $1727. What movement do you expect for Gold? Leave your thoughts in the comments below.
heres the breakdwon on gold., the pink lines are zones. looking for gold to drop due to corona and dow drop.