FX_IDC:XAUUSDTECHNICAL ANALYSIS :
The 200-DAY Moving Average Steady uptrend reaches the 78.60% Fibonacci level at the second green as XAUUSD breaks the $1500 price mark.
MACD indicator signals continues uptrend momentum by net long gold buyers.
XAUUSD bullish rally approaches the third flag at 61.8% fibonacci level, with new higher high target at $1520
XAUUSD labeled within Bullish Impulse in Intermediate (3) (green).
- Minor 3 (green) - Bullish Extension
- Minor 4 (green) - Contracting Triangle
Gold should be able to resume the bullish impulse after completing the correction in Minor 4 (green).
Minor 5 (green) should present a sudden and sustained rally.
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XAUUSD - Fractal TIP!
The pattern from 16-08.2018 until 13.11.2018 is repeating.
It can be noticed intraday on current charts, from 23.04.2019 until 16.05.2019 (today).
Many pips ahead!
Many people over the past several months have been thrilled about Gold finally rising from the dead of nearly six years of doing virtually nothing - and rightfully so! Prices have been able to maintain above the psychological value of 1400 despite ATHs across many world indices. Even after at times, global tensions have waned, and monetary policy has prolonged...
XAUUSD is expected to drop to 1st support at 1411.05 where it could potentially react off and up to 1st resistance at 1431.95.
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So here is a pretty simple picture.
1) The global trend: UP
2) Local trend: UP
3) We have 3rd rejection of H4 HUGE trend line
4) H1 200 EMA
5) MY GLOBAL TARGET IS 1500 on GOLD
6) There are few wicks on WEEKLY that need to be filled
7) US DOLLAR I personally see bearish for long time. Rate cuts. So perfect time to continue our upside movement
Munch on them pips with us... everyone is hungry and there is plenty to go around.
Message us if you are interested, after all our trading style is simple and effective as you can see from our charts, we even teach our trading style.
Now price is coming up to such a key resistance level, but we can see it has been respecting a strong trend line and is in a...
Follow ArrowPips : )
Gold is going to make another high because of trend continuation. D1 minor trend line can slide block but strong force will reach that historical resistance. We also saw the D1 flag breakout and retrace.
XAUUSD GOLD Weekly View
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Short Term Signal to take profit and Hold bit
Gold sell limit at 1479.00
Gold 1 hour Elliott wave Chart from London update, in which a pullback to $1389.82 low ended the wave (4) pullback. Up from there, a rally to $1452.95 high ended wave (5), which also completed a bigger wave ((3)). Down from there, the wave ((4)) pullback is taking place in 3, 7 or 11 swings to correct the rally from 4/23/2019 low (1265). While the pullback from...
So for those who asked themselves why the gold stopped at 1450 then the answer is in the graph above, the gold stopped at the 50th line of the Fibonacci retracement.
Excellent time to take a break from the position only of buying and also try to make corrections of the price (sell close to the resistance as in the situation now, and buy close to support)