Gold quickly declined, almost as fast as it rose during the FOMC Meeting on Wednesday and hit the MA50 (4h). In addition, it touched the top of the formed Wedge, on a similar price action as April 10th. Both strong buy signals, considering that the long term pattern is a Channel Up. Trading Plan: 1. Buy on the current market price. Targets: 1. 2070 (top of the...
XAUUSD crossed over the Wedge pattern and turned overbought intra day. The RSI (4h) hit the top of its Channel Down, so a short term pull back is in order. Trading Plan: 1. Buy the retest of the Wedge's top. Targets: 1. 2030 (Rising Resistance). Tips: 1. The RSI (4h) has been inside its Channel Down while Gold has been inside its Channel Up since March 20th and...
XAUUSD hit Support (1) at 1981 and the current reaction is a rebound. The long term pattern is a Channel Up. Trading Plan: 1. Buy as long as the price is closing over Support (1). 2. Sell if it closes under. Targets: 1. 2050 (Resistance 1) 2. 1950 (Support 2 and MA200 (4h)). Tips: 1. The RSI (4h) is testing the bottom of the Channel Down. This strengthens the...
XAUUSD is rising following the lower than expected U.S. CPI report with the 4H technicals largely bullish (RSI = 65.005, MACD = 6.660, ADX = 31.407). The pattern is a Channel Up and the current rebound is being made on the 4H MA50. The 4H RSI is approaching its LH trendline and very time a rise hit it, it completed a rebound in the range of +3.50% to +4.50%. The...
Gold turned its 4H RSI below 60.000 (RSI = 59.908, MACD = 11.510, ADX = 11.660) approaching the neutral technical zone for the first time since the April 3rd rise. This is in perfect sync with the February 2nd peak and subsequent correction. Tomorrow's Nonfarm Payrolls may be the catalyst. We are aiming at a -5% decline (TP = 1,930). ## If you like our free...
XAUUSD crossed over the Fibonacci 0.786 level today and is approaching the top of the two week Channel Up. This is a good opportunity to start placing short term sell positions targeting the MA50 (4h). Trading Plan: 1. Sell on the current market price and as long as it stays inside the Channel Up. Targets: 1. 1980 (the MA50 4h). Tips: 1. RSI (4h) hit its Rising...
XAUUSD run ranged all of last week and this is reflected on its 1D technicals, more specifically its flat RSI (RSI = 59.840, MACD = 25.590, ADX = 38.241). The Lower Highs since the March 20th peak are a sign of a possible top formation similar to late January. The RSI constructs are almost the same, we see a declining trend, which on January broke down after 14...
XAUUSD is trading on a Channel Up on the 1H timeframe. The price reached its top and the Harmonic Resistance Zone. The 1H RSI broke over the 70.00 overbought region. Trading Plan: 1. Sell on the current market price. Targets: 1. 1965 (Harmonic Support Zone and near the bottom of the Channel Up). Tips: 1. The Channel Up is within a wider Triangle pattern. The...
XAUUSD is forming a Head and Shoulders pattern on the 4H time frame with 4H technicals neutral (RSI = 51.658, MACD = 2.180, ADX = 22.110). The 4H MA50 has already broken and negated as Support, the 4h RSI is approaching the top of its Channel Down and the 1D MA50 is about to enter into the S1 Zone (1,890 - 1,900). Being above the 0.618 Fibonacci retracement level...
XAUUSD has been ranged for the past 7 days within the 2010 Resistance (1) and 1935 Support (1). The RSI (1d) is inside a Channel Down, which is a Bearish Divergence. A similar pattern was formed in late January and was an early signal of a top formation that broke aggressively downwards to and even under the MA50 (1d). Trading Plan: 1. Sell on the current market...
Top-down analysis on Gold. Key levels & price action. Directional bias & thoughts. ❤️Please, support my work with like, thank you!❤️
Gold crossed over the MA50 4H and invalidated the Channel Down. This rise is strong as it started on a Double Bottom. The price already filled the 0.382 Fibonacci level. Trading Plan: 1. Every pull-back near the MA50 4H starting from now. Targets: 1. 1870 (which is a little under Fibonacci 0.786 and on a projected course with the MA200 4H). Close the trade...
XAUUSD - GOLD hit 1817.50 today, testing the Support of February 17th. As long as it holds, it is a Double Bottom pattern that aims that the 4hour MA50 (1835). Over 1848.50 well target 1870 under Fibonacci 0.786. This scenario of a bullish breakout isn't unrealistic at all as while Gold has been on a Falling Support, the 4hour RSI still is on a Rising Support...
Gold against the Dollar pair had a good bullish run in January 2023, price action displayed a majestic bull run all the way from 1800 to the 1950 price mark, but 1950 behaves as a supply zone and it starts to push the price downwards currently price may look to retouch a demand zone waiting down , but last week closing price 1865 behaving as a considerable support...
Gold is trading inside a Channel Up for the whole month of January. Every impulse rise has been +/- 2.80%. At the moment we are in the middle of the latest impulsive wave. Trading Plan: 1. Buy on the spot. 2. Sell if the MA50 4H breaks. Targets: 1. 1950 (2.80% rise) 2. 1880 (top of the Demand Zone). Tips: 1. The MA50 4H hasn't been crossed since Dec 29th....
In this video we will discuss the ultimate lesson in Trading... So listen up and pay attention. The analogy used in this video should clear your mind entirely of any misunderstandings about the phrase mentioned in the title. By Nature, making informed decisions ALWAYS relies on something that has previously happened to predict the future. That is the only...
In this Analysis we walk through the levels in which gold is trading. Remember We CAN and WILL Trade Lows to the upside. Once twice Three Four times but your RISK must change. That's because we will fall to Lower Support. See Video for levels to trade.
Well we mentioned also on XAUUSD we can LIGHTLY long if confident enough. So there is your bounce. It's up to early resistance and you have the chance to exit.. If you do not exit are you willing to be dragged lower? Does there look like a tight or wide profit margin? All questions one must ask..