We got 2 peculiar breakouts on Gold. As you know, the market was consolidating for roughly 1 week. Consolidating, the price formed a triangle and a horizontal range. We see a breakout of both the support of a triangle and the range. It confirms the local strength of the sellers. The price may drop to 2006 support. ❤️Please, support my work with like, thank you!❤️
Gold broke under the 1D MA50 for the first time since October 13th and turned bearish on the 1D technical outlook (RSI = 41.420, MACD = 1.310, ADX = 35.745). The pattern that has emerged is a Channel Down with the price near its LL bottom. Consequently we expect a short term rebound to retest the 4H MA50 and then a new bearish wave towards the S1 level (TP =...
Gold (XAUUSD) stopped its 10 day pullback yesterday on the 1D MA50, which is the level where the short term Channel Up priced the previous HL on December 13th. The 1D timeframe is technically neutral (RSI = 47.836, MACD = 6.750, ADX = 32.595). If the 1D MA50 is crossed though, the trend will turn bearish in a way comparable to the May 17th 2023 bearish crossing....
Here is my latest structure analysis and key levels for Gold. Horizontal Key Levels Support 1: 2015 - 2019 area Support 2: 1973 - 1979 area Support 3: 1931 - 1938 area Resistance 1: 2077 - 2088 area Resistance 2: 2143 - 2148 area Vertical Structures Vertical Support 1: Falling trend line Vertical Resistance 1: Falling trend line The market is currently...
Top-down analysis for Gold. Important key levels. Potential scenarios. Your trading plan explained. ❤️Please, support this video with like and comment!❤️
Gold has technically turned neutral on the 4H time-frame (RSI = 47.613, MACD = 2.720, ADX = 30.603) but remains bullish on 1D as it has started the bearish leg of the two month Channel Up. The 4H MA50 broke today for the first time since December 13th and that basically validates this short-term correction. Our target is the S1 level (TP = 2,016) which will make...
OANDA:XAUUSD XAUUSD (M15) appears to have a pattern of narrowing the fluctuation range. In this case, we can wait to buy when the price breaks out of the pattern and moves into a trending state. Specifically in this case: Buy Stop at 2065.2 Stop loss at 2063 Take profit at 2069 Sell Stop at 2063 Stop loss at 2065.2 Take profit at 2069 Remember to manage 2%...
Gold has formed a 4H MA50/100 Bullish Cross, extending the rise of the bullish wave inside the Channel Up pattern. Naturally, the 1D technical outlook has turned bullish (RSI = 61.138, MACD = 13.480, ADX = 42.704) and the price can test the dashed HH trendline on a +6.45% rise like the November 28th High, which was the top before the highly distorted ATH of...
Multiple time frame analysis for Gold. Price action & candlestick analysis. Structure analysis. Bearish outlook explained. ❤️Please, support this video with like and comment!❤️
Gold reached the top of the ATH Channel Down and so far is being rejected. Turning bullish on its 1D technical outlook (RSI = 57.506, MACD = 11.660, ADX = 41.229) means that it is not unlikely for the top to break but we will engage (buy) only if the R1 level (2,048) breaks and target the R2 level (TP = 2,090). Until this happens, we will use the rejection to...
Gold entered the All Time High territory on heated overbought technicals on the 1D timeframe (RSI = 73.661, MACD = 29.580, ADX = 38.098) so far coming only a fraction away from hitting the May 4th 2023 ATH. Practically this is a Resistance line that formed long term tops and rejected the price another two times, on March 8th 2022 and August 7th 2020. The least...
Gold is trading inside a Channel Up on the 4H timeframe since the Nov 12th low. Stable bullish technical outlook on 4H (RSI = 66.543, MACD = 8.550, ADX = 30.155), which calls for an extension of the current price action which is at the bottom of the Channel Up currently, to a new HH. We aim at a +1.96% rise (symmetrical with previous bullish legs), TP =...
Gold turned bearish on the 1D timeframe (RSI = 43.890, MACD = -0.091, ADX = 34.371) after the November Channel Down almost hit the 4H MA200. It hit our 1,935.50 TP nonetheless (see previous signal at the bottom), and now the short term is giving us a buy signal in the event of a break over the Channel Down. The 4H RSI holds a HL trendline which is a Bullish...
Gold turned again marginally overbought on its 1D technical outlook (RSI = 70.196, MACD = 25.640, ADX = 45.356) as it managed to stay supported inside the Channel Up pattern of October, over the 4H MA50 as well. Even though Gold's price action this past month took many traders by surprise, its price action is really that simple, a technical Channel Up, which keeps...
Gold is on a fierce rally since the October 6th bottom that has turned the 1D technical outlook overbought (RSI = 71.518, MACD = 17.530, ADX = 38.679). The price crossed over the Fibonacci 0.618 level but Friday's 1D candle closed downwards leaving a big wick above (but still closed green). We may see a Triangle consolidation much like March 20th-April 3rd before...
Gold opened much higher today in the aftermath of the Israel geopolitics, with a move that has technically corrected the previously oversold 1D technical outlook (RSI = 38.184, MACD = -22.590, ADX = 40.526). Regardless of the fundamentals related to the conflict, the 1D MACD is reversing towards a Bullish Cross from deeply oversold territory and a rally to the 1D...
Gold is holding well inside the last week's Channel Up and on the 1H timeframe it reached the overbought zone (RSI = 74.328, MACD = 2.620, ADX = 35.131). Even though we are bullish long term, this overbought state might cause a minor pull back or consolidation as on September 15th. The RSI has in fact reached the 77.600 R1, which was the High of that date. This...
Gold turned bullish again on the 4H timeframe (RSI = 63.771, MACD = -1.560, ADX = 40.595) after crossing today over the two week Channel Down and naturally the 4H MA50 and MA200 periods. Following the 4H MACD Bullish Cross, this rally can extend to at least R2 and that's our bullish target (TP = 1,953). The entry signal will be closing over R1. ## If you like...