Possible Sell near first horizontal resistance or if not then from descending trendline , Sell trade possible till price remain capped by descending trendline with possible target towards 1420 , Use red trendline as stop loss and exit trade if price closes above trendline.
20.5% for gold in 120 Days, That was nice grow, but is the gold will keep growing or it is the time for sunset and starting retracement?
from first look to the chart, you can see gold reached historical resistance on the weekly frame at 1530/1550 (0.44 Fib level)
from the current performance, we looking for retrace movement from 1500/1550 to 1480/1435/1400
stop...
XAUUSD is expected to drop to 1st support at 1494.40 where it could potentially react off and up to 1st resistance at 1528.88.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
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Rules of Trinity Trade:
I buy when the price breaks and hold above the blue line.
I sell when the price breaks and hold below the red line.
Both scenarios should have a true breakout with at least 2-3 closed bars as a confirmation.
In neutral area (between blue and red) when signals are mixed - I give priority for the last signal.
TP1 for...
Today the main indices fell rather abruptly due to an algo sell off from payroll cuts possibly from Trump in the last hour. However, volatility in the main indices will likely continue as we failed to test 26,500 for example on the Dow. What this means is you can expect a downtrend in the main indices. Importantly, I am expecting the Fed to be dovish on future...
XAUUSD bounced off 1494.40 where it could potentially rise further to 1528.88.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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