Here in Gold We've the bear trend according to intraday candlestick chart. So i'm firstly focusing into bear from that area below 1795 as more possibility of bear due to rejection in bear. So, our target is still support area which is into the correction area. So entry is around 1795 till 1767.
If it didn't stop & keep on flying strongly by...
I feel like I'm posting the same analysis all over again. The market has been soooo slow this week, although still in line with previous post. I just want to reassure that bias is still bearish in favour of dollar strength. EUR/USD had a major collapse and still going -> refer to my monthly analysis posted a couple weeks back. XAU/USD has been holding on for its...
XAUUSD bounced off 1883.07 where it could potentially rise further to 1917.32.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
There is hardly any selling pressure today as we near our 61.8% retrace off of a downward wedge that's been consolidating throughout the past 2 weeks. I would wait until we hit at LEAST 1737.00 to short this market. There seems to be no sign of major selling pressure as of yet.
This is just my opinion of the market, this is not financial advice of any kind. Enter...
Setup Overview: I believe gold has completed its 'A' pattern of the 'ABC' correction structure. Now that we have this data, we can make an educated guess that the market will go for shorts around the 1573 to 1583 mark (red zone drawn above). It's important to monitor price action in this zone before placing a sell order (because of the 100 pip differential between...
Multiple possible scenarios setting up on Gold
Potential long reversal trade on next supply zone
Long from 1281-1276
Potential short continuation trade on previous structure
Short from 1300-1305
Price is approaching our first resistance at 1325.87 (horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level, pushing price down to our major support at 1302.72 (horizontal swing low support).
Stochastic(89,5,3) is also approaching our major resistance where a reaction off this level...