GOLD Is Bearish! Short!
Please, check our technical outlook for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1920.14.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1865.53 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Gold-short
GOLD Will Go Lower From Resistance! Sell!
Take a look at our analysis for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1954.33.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1933.85 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
GOLD Is Going Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1965.31.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1937.99 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
!! This chart analysis is for reference purposes only !!
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GOLD Is Bearish! Short!
Take a look at our analysis for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1946.65.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1926.23 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GOLD Will Go Lower From Resistance! Sell!
Take a look at our analysis for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1980.24.
The above observations make me that the market will inevitably achieve 1956.48 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
GOLD is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 1930.417.
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HTF - GOLD - HAS LOST ITS SHINE?My analysis today deals with how the further course of our most popular precious metal "GOLD / XAU" could look like.
For this I have carried out a "MULTI-TIME-FRAME" analysis, which refers to the higher time units (month - week - day) and thus makes the big picture visible.
Normally, all time units below "1h" are called noise, but even a - 1h-4h - analysis is of no use to you, if the knowledge about the big and whole is missing.
> We traders know that nobody can predict the future, and that's exactly why you have to be prepared for all initial situations.
> If the DXY should rise again, it means "BLOOD" for the traditional and crypto markets.
> This creates dangers, but also opportunities - it is important to look at the big picture.
> I have explained in detail which levels are RELEVANT in the following pages. .
table of contents
1st part = INTRODUCTION
2nd part = TECHNICAL ANALYSIS
= Monthly - Time frame
= Weekly - Time frame
= Dayly - Time frame
3rd part = CONCLUSION
PART ONE
"INTRODUCTION"
After "XAU/USD" formed a double top between 2020-2022, a strong sell-off has been unleashed thereafter.
> This sell-off paused in October this year to test the strength of it.
> With a subsequent bullish monthly candle, many retail investors now feel on the safe side that new highs will be reached.
> Here I do not want to take away the joy, but the big picture does not suggest anything like that.
> Once you look at the DXY (USD index) on the higher timeframes, the following sell-off in gold is "indirectly" confirmed.
(My DXY analysis is linked below this post, for confirmation purposes.)
GOLD SAFE HARBOUR .
If you follow popular wisdom, GOLD is classified as a safe and reliable haven.
SPEAKING LIKE ...
> "All that glitters is not gold."
> "Talk is silver, silence is gold."
> "Much gold, much future."
That, the precious metal gold got such a high value awarded - HAD - its reasons.
> Inflation protection and security - are definitely the two most associated words with this precious metal.
Unfortunately, at the latest, since the year 2021, this no longer seems to apply.
> If one compares the loss of inflation and the gain in value of gold, a significant gap can be seen, at which there can no longer be any talk of "inflation compensation".
> Gold will therefore no longer live up to its reputation and a rethinking of its value will have to take place in the future.
SECOND PART
TECHNICAL ANALYSIS
For the analysis of the higher time levels, I proceed according to the onion-skin principle.
> MONTH - level > WEEK - level > DAY - level
These are divided into
> SUMMARY > CHARTS
The charts are presented in logarithmic scaling, as the given information can be visually presented in a more harmonious way.
1st MONTH – Time frame
SUMMARY
The trend channel plotted on the chart formed in March|2007 and has since maintained its position as a legitimate trend channel. Its mid-trend line showed reactions when confronted and was respected by the market.
> Price is in the area below the mean line and had last touched the channel in 2018.
> September|2020 the price ran into the mid-line but was not strong enough. This becomes very clear when looking at the moving away middle line despite the "double top".
> The trend arc is another resistance, which should be taken into account for a future downward movement.
If we go into more detail about the "SUPPLY & DEMAND" zones, you can look at two zones in the chart.
> The "SUPPLY" zone is VERY STRONG because it is a RBD (Rally Base Drop).
> The "DEMAND" zone is VERY WEAK, as it is a DBD (Drop-Base-Drop).
> If we get another rise in the DXY, the drawn "DEMAND" zone will break and the sell-off will continue.
The Fibonacci retracements should serve us as additional confirmation, and have been proved in past moves (last decades) .
> Should the price rise even further, FIB (1) will serve as a Strong Resistance Zone, although the "FIB Zone = 0.75-0.88 - is the Strongest Resistance. (1)
> If the sell-off continues, FIB (2) cannot do much in the monthly chart, but if necessary there will be a reaction on the "smaller" time levels.
> The FIB (3) = 1.618 level, will resemble a large magnet and in combination with the FIB (4), will trigger a large resistance reaction in the market.
Past highs and lows usually serve as resistance / support, of which we have three.
> HIGH | 08/20 - Already showed a reaction (double top).
> HIGH | 09/11 - Point of Control
> LOW | 03/21 - Broken and recaptured
Points and levels of interest are in front of us, which have played a strong role for the market since 2011 .
> The most significant resistance, represents the plotted - POI (1800 USD), which is still contested at the time of this analysis.
> The other POIs have non-negligible resistance and support characteristics and should be kept in mind.
CHARTS
XAU - Overall picture
XAU - Trend lines
XAU - Supply & Demand ZONES + Market Structure Break
XAU - Fibonacci
XAU - POI
ATTENTION
In the following time levels, I will only deal with the NEW, added elements. .
2nd WEEK – Time frame
SUMMARY
In addition to the already mentioned trend channel, now three more become visible, which may have escaped the one or the other.
> The "Purple" trend channel formed at the same time as its big brother (monthly channel) and thus represents a major significance for the market.
We are at the middle line of the channel and the market seems to have used it as support.
> The "Turquoise" trend channel accompanies us since the last high and has a big say with its many interactions.
My guess is that its resistance line will decide whether the sell-off will continue or be broken with confirmation.
> The "Earth-colored" trend channel is a small sideways accumulation and accompanies us in this area.
Currently, the price has fought its way back into the channel, confirmed it and is now targeting the top of the sideways channel.
> The "Orange colored" trend line , has been respected since 2018, 07|2022 broken.
The price suggests that the trend line is approaching for a final retest.
The additional "SUPPLY & DEMAND" zones join the two existing ones and remain untouched.
As additional Fibonacci additions, we have:
> The 0.88 FIB (1), combined with the levels from the FIB (2). This represents with the 0.88 levels from FIB (2) - two very relevant resistance ranges.
> FIB (3) is only valid if the price does not rise further and therefore the input values do not change. Should this be the case, the 0.786 + 0.88 area is the most important to watch out for.
CHARTS
XAU - Overall picture
XAU - Overall picture + Month
XAU - Trend Channels + Trend Lines
XAU - Supply & Demand ZONES
XAU - Fibonacci
ATTENTION
In the following time levels, I will only deal with the NEW, added elements. .
3rd DAY – Time frame
SUMMARY
The chart shows a falling triangle which has been broken .
> As a result, the price has confirmed this break, with a close at the break point.
> At this time level, there will be a sell-off, especially if the DXY rises.
To give a little comment on the "Supply & Demand" zones:
> The upper two "SUPPLY" zones are definitely very strong. 1800 + 1980.
> The bottom "DEMAND" zone is very strong, as it is a DBR (Drop-Base-Rally) zone. (ca. 1640 - ca. 1615)
> The "DEMAND" zones in between are incidental, will trigger small reactions on the lower time frames, but nothing significant. (ca. 1760 - ca. 1660)
CHARTS
XAU - Overall picture + Month + Week
XAU - Supply & Demand ZONES + Trend Lines
THIRD PART
CONCLUSION
"The central banks, themselves, are behind the gold price manipulation. What should you get out of it?"
Run this question through your head and let me know in the comments what you think is more likely.
> Another sell-off or a positive gold price for now?
In summary, based on technical analysis, there are a few reasons for a weak GOLD price .
> If you look at the area between 1,950 USD - 1,840 USD, it almost seems like an arm guarding the upper levels.
> To bring down this defense, I think, needs more momentum than what we have and are getting right now. (Christmas, New Year, Chinese New Year)
For this reason, I expect a weak gold rate and a strong USD, and an accompanying bloodbath in the traditional and crypto markets.
> Positioning after confirmation of this thesis = SHORT .
If this idea and explanation has added value to you, I would be very happy to receive an evaluation of the idea.
Thank you and happy trading!
GC HnS shortHead and Shoulders pattern identified, so short established at 2048 at uptrend breach fri 5th may.
price annoyingly breached resistance at 2020 so had to hedge orders back up to 2046. further shorts were added from 2040.
im expecting the price to reach at least between 1984-1987 area although i do think it may well over shoot before a pull back from that target area. if the price pulls back and PA indicates a down move, i may add shorts to target 1975-1978 area but will have to see how things pan out
GOLD: Bearish Continuation is Highly Probable! Here is Why:
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to sell GOLD.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 17H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1992.207 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
The BB upper band is nearby so GOLD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1968.115.
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Gold again fails to break through ATH?GOLD bounces from the old highs and ATH; fails to break through ATH.
TENKAN SEN line on W1 interval is very far away from the price – Tenkan likes to be close to the price – indicating that even if the price would break the ATH, the correction is inevitable.
On the daily interval, the price is struggling to break through the last resistance; this could indicating bearish senitment plus on H4 the price broke cloud.
Targets, if everything will confirm, are W1 TENKAN and MN1 KIJUN.
GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
It makes sense for us to go short on GOLD right now from the resistance line above with the target of 1984.692 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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GOLD BEARS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
The BB upper band is nearby so GOLD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1973.506.
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GOLD Massive Resistance Ahead! Sell!
Hello,Traders!
GOLD went up after the
Breakout from the range
Just as I predicted in my
Previous analysis but
The examination of the 3D TF
Tells us that a massive horizontal
Resistance level around 2075$
Is ahead of us thus after the price
Hits the level we will be expecting
A pullback and some bearish
Correction towards the demand
Areas below at around 2020$
Sell!
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Check out other forecasts below too!
GOLD: Will Keep Falling! Target for Buyers is:1959.97
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GOLD pair which is likely to be pushed down by the bears so we will sell!
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
Previous week’s green candle means that for us the GOLD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1976.480.
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GOLD SHORT FROM RESISTANCE
Hello,Friends!
GOLD is trending down which is clear from the red colour of the previous weekly candle.
However, the price has locally surged into the overbought territory.
Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 1937.836.
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