Looking to swing gold to create new ATHs early next year.
Potential take profit areas are highlighted in green, these are also areas where price could struggle breaking or even reverse so bare that in mind when taking this trade
DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose. Trading live carries...
Hi everyone this is my trade set up for the XAU/USD
This is my analysis only, please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome thanks
Gold is still on-trend bearish.
Price may create correction before continue bearish.
If 1784 Breakout, possible retest the trend line about 1806-1809.
wait for rejection and price action come to sell area.
Manage money management wisely
Here is my idea,
Price possible create HL (Higher Low) and Bear Flag.
my sell entry area on golden zone area on Fibonacci
If you find on Daily and weekly, I see strong momentum for bearish there.
If you have any idea, leave me comment below and don't forget give me thumbs up.
- The US Dollar fundamentals came out positive which can made the dollar to gain some strength of which Gold might get weak
- by Following the technicals gold is now in a corrective fase of which we might see a bearish breakout due to the previous daily low that has been taken out and now been retested
Gold has been recovered past few days quite well. From the monthly chart, We can see Bullis Head and Shoulders pattern forming. The weekly Chart also has the same pattern. On the daily chart, we have seen a nice move to the upside.
After this impulse to the upside, we want to see a correction to at least the 1785-1790 region before continuing the upside.
Okay so, past 2 weeks gold gave a big drop of 100 USD which was expected as it is completing its bullish heads and shoulders in one month's chart which means a big bullish move is loading. Markets have been trading in a range for some time now. So, how can we approach entries???
We still have a bullish bias on gold as it's retesting a strong 61.8 Fibonacci level...
I See the Dollar Index will grow soon.
Its time to sell now approaching on resistance?
If i change to higher time frame (Daily) it seems like bull flag.
I use sell on 1780-1785
With Stop loss on 1790
If you have any idea, leave comment below and like this post.
Appreciate it if you share any idea.
Check our previous Analysis.
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Good luck to you!
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This is just an idea, not financial advice.