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
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.
XAUUSD (Gold) Daily Chart. Watch for buy setups.Hello traders ,
Looking to XAUUSD chart I am expecting retracement of the (3) wave . We should watch for buy setups near previous lows as there is still space for more drop.Also a Bullish Shark Pattern will be formed.So 1099.60 and 1073.70 will be the next levels to watch if gold continue to drop.Don't try to catch the start of the retracement before confirmation.I will update the chart with lower timeframe as we could have some sell setups.
Take care
Xau/Usd: Bullish SetupReferring to my previous post of the 19th September 2016
Price finally reached my take profit spot on, we then saw a retracement back to our support zone giving traders another chance to take some or more profit off the table. Targets were set at "1320.00" but after we seen a break of previous highs and a retest, as noted buyers should now be aiming for "1325.00"
Xau/Usd: 19th September 2016Currently Long on Xau/Usd (Gold) after price came down to a major support zone and trend line.
This trade was executed due to a 2 bar setup & more confirmation was given when a pin bar appeared (1H)
We could potentially see price retest previous highs at "1325.00"
Entry - "1310.00"
Target - "1320 0.00"