Disclaimer - I could be wrong/Trade at your own risk...
A significant upward trend. All the technical parameters support further increases in the long term The price of gold stuck between support at $ 1384 and resistance at $ 1431 This signal is for traders looking for market corrections. Sell Gold Target: 1384
Gold is knocking at a very STRONG RESISTANCE Zone. This resistance zone as held for the last 3 years. So, there is a high probability that Gold can fall from this area. In the 4H, 1D timeframe, we can see BEARISH DIVERGENCE on the RSI as well. Hence, traders can look for SELL between 1353-1360 area with SL above 1365. TPs can be set at 1340, 1331 and 1310 respectively.
Gold has now made a double-top with the help of the NFP news which pushed it up into the resistance-zone. This zone has showed resistance before. Gold is showing weakness inside of this zone, so we are shorting it. Look at our previews analysis to see the setup more clearly. Target area: $1300
Currently pushed back up into newly created supply and also in an overall selling market. Will not be surprised if we see the sellers push it back down once again. Let's see how it plays out.
Disclaimer - I could be wrong/Trade at your own risk...
On last Sunday, I mentioned that Gold is likely to reach towards 1288 area where it will face STRONG RESISTANCE. As you can see, Gold reached 1288 area and REVERSED. 1288 area coincides with the TREND LINE RESISTANCE and also the RECENT HIGH For this week, it's important to watch the PRICE ACTION at 1288-1292 area which I feel will be a VERY STRONG HURDLE for...
As seen on my 4 hours chart, market made a double bottom before pushing back up. I will either do a buy at this level or wait until market breaks and closes above the level identified on the chart. The reason for this is because although market made a double bottom which is usually a sign of a reversal, sometimes market will turn around and invalidate this signal...
Wait for the break of the H1 bullish channel and sell on retest of zone. If price rejects of channel price can move upwards again.
REVIEW OF GOLD: MACD already told us the downward momentum is gone. RSI is Overbought All these telling me Gold is facing Daily Resistance. I will look into a small time frame to find. Any bearish pattern: Double Top, Pin Bar, Bearish Engulfing and short. Trade with care and use good money management. If you don't understand the setup please ignore the trade....
Gold Is about to go on bearish mode. I expect the turning point from the level it is now around 1303.60. Let See how this will play out.
XAUUSD 1H Structure break and pull back
The previous GOLD trade made a decent profit and now the price is pulling back. Pay attention to 1288-12917 area... Watch price action for reversal signal and ready to catch a short for a structure.
XAUUSD / INSIDE BAR BREAK DOWN
XAU/USD SHORT to 1290, then reverse, I feel 1300+ is coming soon maybe even 1400