Bull harmonic price pattern. Oversold indicators + support holding. Also I'm bearish on stocks, Gold tends to go in opposite direction, in that sense there is more weight to the evidence. Entry 1335 TP1: 1356 TP2: 1363 SL: 1327 It's likely to go higher than that so we will see how it plays out and find another entry.
The chart pattern calls for several things to come about in order for this pattern to work. Check the low volumes. We have been accumulating.
All indicators are pointing towards that. 1.) USOIL is dropping like a stone 2.) USDJPY is appreciating quite fast 3.) SPX is off its peak level
Prices seemed to be stucked in a downwards channel. There is a good opportunity around the area 1313.50 to setup a long position. If prices head down, we can expect prices to bounce back a bit as there is a area of support and the 50.0% fib levels to hold prices.
Breaking the trendline means = long GOLD (for me)
Hey Guys, We got potential bullish bat formation in XAUUSD and we can expect the price to move up after it reaches our entry level around 1310's. With RSI being oversold already, we may get small pullback upwards before reaching 1310. Risk-Reward for this trade is really good. Lets see how it goes... For past few sessions XAUUSD has been in continuous downtrend,...
I updated the targets. NOTE: This chart is just speculation. Do not trade on it. It is merely for information purposes. The patterns that form can change at any given time.
previous idea on gold was expecting a rally to 1348 but since we are in corrective wave which now im getting clearer idea to identify it , it looks like expanding triangle which clearly identified that wave c will be very complex wave that were i forecast a long to 1348 now with above said , im expecting a down 3 waves to form wave E of triangle for wave 2 so...
GOLD longer term analysis is showing us two key supply and demand levels to keep in mind. At this point we are closer to the supply level above therefore projection for long scenario is more likely.
We are still going long, not selling yet however Gold is approaching resistance zone 1303-1293, Watch out for bearish evidence and a potential move to the downside from this major zone. Happy Trading Price Action tracker Skype: PriceActionTool PS: Guys, as you all know, at the moment we can only share ideas via Twitter and Stocktwits, i ve asked Tradingview to...
Trend continuation. Price can either move up right away or retrace before resuming upwards - We feel this trade is safer on a retracement into the yellow box at which point we will look for exhausted selling for a buy entry. Given price is in a general down trend we acknowledge that at the 61.8% fib level it is time to seek a short position and close out long positions.
Xau-Usd Daily Time Frame Bat Pattern
Type : Market Execution Date : 21.5.2016 Time : 22:35 GMT +1 Technical : Daily IB ( Inside Bar ) & Daily Strong Old Support Trend line from 10.2.2016 - 1181.30 & Daily Pinbar with ATR 1138 ( normal 1701) & 2 support by Channells & Weekly BEOB ( bearish outside bar ) but we will try to long it Pair : XAUUSD Timeframe : DAILY Trade setup : LONG Entry at : 1250.84...
1st Buy 1252 2nd Buy 1246 hold approx for 4-5 days Target 1 - 1268 Target 2 - 1279 Target 3 - 1291 Target 4 - 1303 Stop loss 1226