Look at the Gold the LBLS shows downtrend is continuing 1480 is the level it will retrace back.
OANDA:XAUUSD Simple Breakout & Retest Confluence: BRN Entry Confirmation needed for more conservative entry: Bullish CRS Enter price: Buy @ 1520 SL @ 1515 (50 pips) TP @ 1535 (150 pips) Note: Although I'm pro to short for now, but I see the bullish patter. So just trade the setup first. What you guys think?
Hello traders, price is currently trading sideways, with support and resistance at green marked area. I expect price will break resistance, pullback and than further up.
Gold's recent breakout after the Saudi attack may have sparked a larger move upwards... Retraced to around 61.8 Fib level then bounced out of channel.... backtested channel and continuing upwards again. First target is 1535 with stop at most recent low 1484.50... Move could be dependent on FOMC meeting tomorrow...
Trade was provided by my NEXT high probability signal group.
Please message me for further details or any help on entries, and blessed trading! :)
We currently see Gold moving higher on the back of geopolitical tensions due to the ongoing US and China trade war as well the uncertainty surrounding Brexit. However, we would want Gold to consolidate at the $1533 resistance level and gain upward momentum otherwise prices could start falling towards $1500.
We currently see Gold prices potentially moving higher due to increased fears of a recession due to the inversion of the yield curve and an escalation of the US/China trade war. However, we would not want to see prices drop below the $1533 support level which could happen as the RSI is currently 85 and if stocks bounce from their currently level after the recent...
This weekend , I try to study more in Gold chart and read other guru discuss about Gold. They talk in two sides , Mostly talk Gold will drop after this because of COT data and another side look Gold Still Bullsih heading to new High. For me, I don't care which way Gold would like to go. Only move 150+ pips per day it is Ok for me. We only use Stoploss and follow...
1st. I see H&S pattern on USD index 1d chart which is testing it's necline now. 2nd. We had pretty big GAP when gold opened, which closed just right now. After these two I'm expecting gold will go back up to this day high (pink line) if we break it next stop on MT4 is 1605. Thats prety high jump, but if USD H&S wil work it that not even the highestwe can go. Good luck.
Talk of a recession and the ongoing trade war between USA and China may be causing the price of gold to rise in the near future.
ENTRY 1495.37 TP 1510.20 (RR+ 2.04) SL: 1487.63 INTEL: trading a contraction bouncing of support level and heading to next resistance (50% TP)
Gold has gone up approximately 7% since the beginning of the month however we are holding onto our long position despite the RSI being above 80 indicating it's overbought. This is because the current stock market turmoil and the 2s10s yield curve inverting indicating a recession is imminent could see investors flee further towards safe haven assets such as Gold....
Hello all - DuncanForex here with another trade idea I am looking for some USD strength in the coming days for a small retrace higher to resistance. (The opposite to my Gold Trade) This may go sideways for a while due to it being August and low volumes, however lets see how it plays out Buy stops at 106.10 area The website of the same name is now live ...
I believe there is still some bullish power in the gold market. We will probably see a push up to the 1550s according to my analysis. From there we can look for sells. Good luck! Thoughts below!