Today has seen Gold pass $1500 reaching levels not seen in six years on the back of escalation of the trade war between the US and China and the subsequent fall in equity markets. This coupled with central banks worldwide cutting rates and we think even the US could keep cutting rates in the future even though Powell gave no indication of this in his comments...
If you don't have time to see chart - don't Short ( for Scalping only) if you over trade - don't trade this time Gold rise >1% so don't hurry to all in. only use Buy on dip or use suitable lot for your account. This idea only update and confirm Target price I change Target to 1494. *** Invalid this idea when gold drop below 1451
Gold can possibly go to the bottom of the zone for a re enter position. However I believe gold will be bullish this week.
After Deutsche Bank's announcement how long until the whole bank system collapses? Negative interest rate in Europe, how can this be sustainable ? When people will stop trusting in this fake money that is fiat they will buy land and gold/silver, something that has a real value. Indicator used:
I just adjusted my count because the market seems to tell us that primary w.5 is unfolded to be ending diagonal which is 3-3-3-3-3 wave move as we can see that w.1 is a 3 waves move thus I expect we to get another three wave move for the.second wave as well. we can wait for 61.8 and 78.6 retracement to enter the long position.
enter now and stoploss around 1395.00
We will see Gold reaching newer levels, the hourly double tops have been obliterated. My Target is 1500
Let's see.. ...Gold consolidating within a well defined ascending triangle - CHECK! ...above 100MA (4H) with a bullish upward trajectory - CHECK! ...RSI (4H) above "50" with a bullish upward trajectory - CHECK! ...DXY having a hard time probably enduring a rather prolonged/deeper/correction - 2 b confirmed! ...general bullish fundamental background ("geo- &...
Lots going on here. NFP will put price into place on Friday. Hopefuly will see price come back to the Fibonacci at .78 by tomorrow at the latest. This may very well help indicate price movement to either see a bounce from the .78 region on the Fibonacci to $1450 or price diving down potentially back into that channel. This could just be a fake breakout or could be...
Looking for consolidation in Gold between $1425 - $1415 before break higher towards $1453 and initiating a new bull run for the remainder of the year up to $1568.
On the longer timeframes (1 month) gold broke the horizontal resistance based on the top of summer 2014, July 2016 and around February 2018. For now, it looks the month candle is still trading above the resistance line but, we have one trading week left before the candle closes. So to be safe, wait for one more week, and if price is above resistance line, it's a...
OANDA:XAUUSD is getting ready to break up, forming an ascending triangle at Weekly TF. Daily entries around 1280-1290 a couple of weeks ago (Golden Cross shown at chart), and today another signal show up at 1315 after breaking 2nd flag.