Chart explains everything.
Note: These are simply my personal views and analysis which may not fit with yours. Please use these as education or another views. Only rely on your own analysis. Always remember Risk Management.
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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 $1351.55....
Pending Long @ 1329.00
Stop Loss @ 1317.00
Target @ 1370.00
RR Ratio @ 3.42
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Gold is dropping nicely after our bearish cup and handle reversal formation. We keep an eye out on this trade as it has also broke a major ascending support-turned-resistance line which normally triggers a much bigger reversal. Our 1st resistance is at 1344 (Fibonacci retracement, horizontal overlap resistance) and our next major support is at 1325 (Fibonacci...
Gold has formed a really strong cup and handle reversal with our 1st resistance at 1344 (Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to at least 1325 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
RSI (55) has made a bearish exit signaling that further...
Gold tested our major resistance and reversed perfectly from 1361 (ABC Fibonacci extension, horizontal swing high resistance) pushing price all the way down to our 1344 support (Fibonacci retracement, horizontal pullback support) as expected before bouncing up. This remains the key support to be broken before potentially another drop to 1325 support (Fibonacci...
Gold is testing major resistance at 1361 (ABC Fibonacci extension, horizontal swing high resistance) and a reversal could occur at this level to push price down towards 1344 support (Fibonacci retracement, horizontal pullback support) before 1325 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 99%...
FYI......This idea was already posted. (already up 130 pips!)
Now that we have confirmation of the break of the last resistance (1327). This gold BULL RUN, will continue until further notice
Enjoy the pips
Here is the trade that was proposed last Friday!
XAUUSD LONG :
ENTRY : BETWEEN 1320 -0.20% .00$ - 1325.00$
SL : 1318.12$
TP 1 : 1338.58
TP 2 : 1356.17$
Enjoy!
XAU we can see 2 possible scenario for GOLD
1 scenario price can make double top and we can sell until 1300 strong support zone
2 scenario price can brake strong resistance zone and we can go more up
thanks for your attention
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Sell below 1250.00. Stop loss at 1310.00. Take profit at 1125.00.
Reason for the trading strategy:
We remain bearish below 1250 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1125 support (swing low support, Fibonacci extension, Fibonacci retracement).
RSI (34) has made a bullish exit and warns off a...
Sell below 1200.00. Stop loss at 1246.00. Take profit at 1040.00.
Reason for the trading strategy:
We remain bearish looking to sell on strength at 1200 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 1040 support (Fibonacci retracement, major horizontal pullback support, recent swing low support).
RSI (34) is seeing...
XAUUSD major levels of resistance:
1195 (Fibonacci retracement, horizontal overlap resistance)
XAUUSD major levels of support:
1040 (Fibonacci retracement, major horizontal pullback support, recent swing low support)
XAUUSD technical indicators:
RSI (34) is testing the 50% resistance level where we expect a reaction from to coincide with the drop we expect...
