Buy setup is still intact. The best buy would be if we break previous L 1260 downwards as we could then more easily turn around and start going up.
If the first move is up to 1272ish that could be another short-term sell.
I have an entry already open from 1274.5 sell with BE and TP is 1260.
I am looking for a break of 1260 downwards that would be nice.
XAU/USD goes up amid Catalan crisis
From technical perspective, the pair had all means to reach the bottom trend-line of a dominant ascending channel. A release of better than expected information about the US GDP growth was projected to give an additional stimulus. However, a declaration of independence by the Catalan parliament and subsequent sack of the...
I short The gold on a Potential H&S even she not really Active yet so at the price now 1267 for target 1205
- all the last dollars data was so upbeat,like the ISM all PMI the up in wage,now the us GDP and Personal Consumption Expenditures Prices.
So all is in the side of dollars ,in other side when you look at DXY he male a reverse H&S
so i think in...
As we approach sensitive levels and targets first daily moves start to get even more important!
If we approach 1270-1272 area now that seems more like a Sell with TG 1262- 1254. Break of 1272 up is a bullish sign.
If we approach 1262-1254 first, it is considered as a bullish sign as well.
Note that Daily TF TL aligns perfectly with TG I have 1254 area!
I was watching EU as it clearly leads Gold now. I have mentioned they both are twins, same behavior! Only thing is that sometimes Gold is faster, sometimes EU is faster! + Gold reacts on the geopolitical events.
Who is faster now is not hard to tell!
Seems that EU is going for a double bottom! Usually, previous Lows are broken and when ppl sell because previous L...
Gold broke through the previous level of support, but could not continue the downward movement and after the formation of rather significant volume at the bottom of the chart grew sharply up. It is worth noting the new volume support level of 1272.90, from which the price rebounded sharply upwards. Nevertheless, given the downward trend and the fact that the...