GOLD, XAUUSD Linear Daily Bottom/Top ChannelLower indicators suggest major top late August / early September with price weakening ensuing.
Gc!1
GOLD, XAUUSD 3 Week Linear Technical Big Picture OverviewFrom a purely technical perspective the longer term setup suggests a reversal is already in play. Lower indicators suggest a breakdown from strength in 2011 and has been backtesting the major 2013 breakdown from a position of weakness since. The bell has been rung, time to shimmy back down the rope.
XAUUSD Support: 1,478 - Resistance: 1,518Staying on the sideline is the best thing to do at the moment.
For intraday traders you can wait for a breakthrough of the yellow channel as shown in the picture.
XAUUSD
GBPCAD - SELL Nowyes correct Sell it now and it will drop massively and see the description in the image. GC is in overbought situation and price has retraced from the 0.382 fibo level.
Note: Trade at your own risk.
We are providing free forex signals. You can join clicking below telegram link or comment your telegram username we will add you there.
Join with us for free signals
Telegram - t.me
Facebook - www.facebook.com
Twitter - twitter.com
Website - www.forexcaction.com
FOMC Trading idea for XAUUSDRight now we can see buying pressure on resistance level 1520. If during FOMC buyers will show initiative we can see breakout past 1520 level.
gold, gc, xauusd possible shortwill be watching the low for further shorts, please note if using xau make the proper price adjustment
Gold update in case the peak exceeds 1566Gold update in case the peak exceeds 1566
As can be seen from the chart
If the previous "resistance" peak exceeds 1566, the next target is 1642
According to the technical form
Gold holding Trend. Up then down againGC still holding the trendline pretty well with a "zone" to match. Could be an easy entry. Loking for this to rise maybe overnight up into the trendline/zone with a drop to follow. Could see good prices on PUTs if this happens and catch it off the rise. Any positions held nust be patient. Trend is your friend "until the end"
Gold - Buying dips to the cloudTrade Idea
3 consecutive negative sessions have been posted.
The medium term bias remains bullish.
Current prices have reacted from a high of 1555, however, we expect further gains to follow.
Sentiment remains positive despite the pull-back lower in prices.
Preferred trade is to buy on dips.
We look to Buy at 1510
Stop: 1500
Target 1: 1540
Target 2: 1555
Gold to Silver R retesting multy-year H&S's NecklineBetting on laggards is like hoping to get drunk by being late to the party.
Gold is about to usher in a big dropGold will usher in a sharp fall in the next three months, falling to 1333-1390. In addition, cftc's speculative longs are already crowded.
JDST vs JNUG vs GOLD Weekly Log LineGold's 6 year long backtest is nearing an end. JNUG/JDST likely to reverse and reconverge at mean.
GOLD Daily Linear Scale Line ChartSimple study highlighting 4 year long ascending channel. Price currently at top of channel. Indicators converging at top.
45 Year 2M Linear Gold StudyThis has all the earmarks of a backtest. Should history repeat it is destined to fail.
Gap Fill HypothesisSince gold likes to fill all the gaps before breaking out. That's what happened for the previous breakouts too. White Circle on the Charts, would be the gaps that I'm talking about.
Gap Fill Hypothesis: 1454 ---> 1449.3 ---> 1435.2 ---> 1423 ---> 1418.9 ---> 1416.7 ---> 1460; Look on 5 minutes chart. Couldn't post a 5 min chart on tradingview. Gold gapped filled 1454 today = making a double top at 1460 resistance.
~
{ Short Entry }
Entry: Sunday's Opening, Short ( 1452.5 )
Stop Loss: 1460, Risk: $750
PT: 1416.7, Reward: 3600$ | 1:5 |
~
{ Long Entry }
Entry: Gap Fill, Long ( 1416.7 )
Stop Loss: 1393, Risk: $2370
PT: 1460-1480, Reward: $4330-6330 | 1:2 or 1:3 |
Overall Trend is Bullish since it's above 1400.
GBPCAD LONG IDEAUpvote if you like the idea, thank you
1st TP: 1.6056
2nd TP: 1.61350
2nd buy order below if lacking confdence
Enjoy
Gold Against the TrendIf the price stops below 1429, I’ll open a short against the trend.
Need consolidation below the level for 6-8 hours to open short.
All long scenarios are relevant.
GC Outlook After reviewing the chart for GC Futures, I believe there is prospect to the long-side. Based on the way I frame the markets, I would need to see a break (failure) of the opposing 61.8% level at around 1600 and then see a measured move long at a 50% level. Obviously smaller time-frames would need to confirm this at the time to be able to enter into any trade. Targets are denoted on the chart if the conditions become true.
I do not post entries, exits etc on my charts because I believe each and every one of you will have a different way of entering into a market and exiting or managing positions. I have my own way of entering into trades and managing trades, and my techniques are rather different to most.
Anyway, I have a long bias for Gold based on the longer-term outlook. That is not to say there will not be day-trading opportunities on either direction in the mean time. If the longer-term conditions do play out, Gold could be seeing a break of all time highs in time :).
