Gold tested its 2017 and earlier this year highs in April and couldn't broke up despite several attempts, so far the price action is testing multi weeks uptrend line, possible scenario i am expecting is to the upside but if it tests the white trendline and forms linear compression, most likely we will see another low this year. So anyway, lets see i am building ...
Gold has sustained taken support from 1238 which is strong support on monthly chart. Daily chart and Monthly chart too formed bullish engulfing pattern which is sign of strong bullishness.
As in my previous outlook I called for shorts at 1307 area, I am still expecting the trade to run for the target, but i am looking for correction at the moment, i would suggest to look for sell setups on this market-mine have shorted at 1304, would be adding to my position.
Checkout the link below this idea for previous Gold.
Happy Trading.
XAUUSD is testing its support where we expect to see a nice bounce.
Buy above 1285.81. Stop loss 1278.29. Take profit at 1301.99.
Reason for the trading strategy (technically):
XAUUSD dropped nicely to our support at 1285.81 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where we look to buy on weakness. We expect price ...
Price action for XAUUSD last week remained pretty much between the intraday resistance levels mentioned in the last post which can be found here.
https://www.tradingview.com/chart/XAUUSD/UpKxAwT7-XAUUSD-Gold-4hr-tf-Elliott-wave-analysis-update/
The price action for XAUUSD from ~$1303.84 to price close of ~$1324.65 can best be described as a corrective (3 wave ...
Price action from $1355.21 on March 26, 2018 to ~$1316.31 on April 27, 2018 is corrective (3 waves) for XAUUSD. Besides, XAUUSD’s (Gold) downswing from ~ $1352.19 on April 19, 2018 to ~$1316.31 on April 27, 2018 held above the support 1 between $1314.34 and $1315.99.
The implication of the above is that XAUUSD should resume a bullish move back upwards as part of ...
It seems XAU/USD price drops as we expected,. Now it's hovering around it's nearby resistance area.
* if the trend breakout to sell to buy means it might chances for little bullish until price 1336.00, Then it will be bearish.
* Otherwise it will bearish until price @ 1308.00
My previous post for XAUUSD (Gold) can be found here:
https://www.tradingview.com/chart/XAUUSD/6nMUGRZJ-XAUUSD-Gold-4hr-tf-analysis-Patience-required/
It was mentioned in the post that XAUUSD (Gold) had perhaps going to resume a Minor wave B position and it was best to stay away as wave B’s are very difficult to deal with.
XAUUSD finished last week with a ...
Price swing for XAUUSD (Gold) from ~1353.67 on March 27,2018 to ~$1322.85 on March 29,2018 is identified in this analysis as a 5 wave move. This implies that XAUUSD should complete a zigzag (5-3-5) Elliott wave structure.
Arrows used on the chart show the trajectory for price action. The Target area for XAUUSD before a sell off is between $1356.82 and $1351.55. ...
Gold is forming a textbook bull flag as the SPX:USD continues to fall. Target is $1,356 with stop loss is set at $1,323. That will put us in for a retest of the $1,360 resistance. If we can break that then big things could be on the horizon for gold and Bitcoin!
Price action for GOLD (XAUUSD) terminated a Primary wave i.e. wave ((C)) at the close on Jan 25, 2018. Price swing from this pivot ~$1365.95 on Jan 25, 2018 up to a low of ~$1309.59 on March 1,2018 can be observed to have completed a 3 wave move best described by a regular flat Elliott wave structure.
It appears that XAUUSD is currently completing a minor wave B ...
https://www.tradingview.com/x/gZHGnuUi/]https://www.tradingview.com/x/gZHGnuUi/
https://www.tradingview.com/x/q7KeObd0/
Hi traders,
The XAUUSD is a correcting phase where we look for short positions trying to take profit at the 32.8% of the retracement. At that value is recomended to start looking to bullish signals. In the other case we look for the 78.6% of ...
