Long term bullish on $GOLDLong term bullish:
1. Ascending triangle breakout
2. Head & shoulder reversal
3. Bullish monthly engulfing bar (December 2017)
4. Retest of long term resistance
Entry range
1.$1300-$1330 (on lower time frame)
2.Definite breakout of $1350 resistance
3.Breakout of $1350 resistance and rounded retest
(Resistance turned Support)
$GOLD
GOLD-BUY
XAUUSD pattern completedAs we shared yesterday there was ABCD pattern, it's completed today and know we looking for the targets
its marked by green lines tp1 @1278.10 and tp2@1282.80 and our stop loss a few pips under point D ( i marked redline @ 12.71 )
Good Luck ....
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Gold Buy IdeaH4 - Triple cycle with double waves inside. We also have bullish divergence.
D1- Price has reached the magnet zone.
H1- We have a false break if we get a breakout above the last high, look for correction and once the correction completes itself, we can start looking for buys.
The breakout of the last high will also create higher highs for us.
Short $XAUUSD/Gold based on time intervals just noticed the time interval pattern, so it looks like we have peaked on this run and we have approximately 1 month per move. Looking at the pattern I believe we see close to 1200 by the end of August so going to try to trade a short based on time intervals, short from 1268.
Gold Buy Idea Updates and Follow Up We got correction and buy opportunity towards the top, that is exactly what we were looking for.
Divergence on H4 and H1 chart.
I expect to see a potential divergence that we have at the moment, with another push up reaching the top.We may also see a false break and then a move down.
Its time to get ready for sells. If you didn't already collected your profits, prepare to cash out now.
Invalidation - if we get a break above (confirmed breakout, not a false break) the top we are following around 1295.40 the sell idea will be invalidated.
Gold Buy IdeaD1 - Price is moving inside a range and we have a divergence with false break.
H4 - Bullish divergence
Conservative Entry - Wait for a breakout above 1229 25 and after corrections, we can look for buys until last low holds.
Potential risk reward ratio here is very good (aiming top of the range as final target ) so use very small risk.