GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GOLD pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 1D timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2265.765 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Gold-short
GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2372.191.
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 2347.000 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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Gold ShortOANDA:XAUUSD
Gold has retraced 61.8% from the recent low, and indicators show that gold is overbought and a new peak has formed. During the retracement, gold moved almost in one steep impulse, which usually couldn't be sustained for long and followed by an abrupt decline. All this presents a good opportunity to sell gold with targets around the major demand zone.
GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
We are targeting the 2278.032 level area with our short trade on GOLD which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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GOLD BEARISH BIAS RIGHT NOW| 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 2287.252.
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GOLD Is Bearish! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2323.122.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2266.939 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 BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
GOLD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 1H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2331.337 area.
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GOLD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for GOLD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2340.10.
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 2314.24 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 GAINING STRENGTH|SHORT
Hello,Friends!
We are going short on the GOLD with the target of 2311.816 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GOLD BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 2306.899 level.
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GOLD SHORT FROM RESISTANCE
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We are going short on the GOLD with the target of 2349.654 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 9H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2263.314 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 2211.374 level.
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GOLD Will Go Lower From Resistance! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2284.284.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2224.888 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 BEARISH BIAS RIGHT NOW| 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 2201.270.
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GOLD Will Go Lower From Resistance! Sell!
Please, check our technical outlook for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2250.313.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2222.660 level soon.
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 SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
GOLD is making a bullish rebound on the 1D TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 2120.486 level.
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GOLD SENDS CLEAR BEARISH SIGNALS|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 2113.739.
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GOLD SENDS CLEAR BEARISH SIGNALS|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 2136.247.
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GOLD Is Very Bearish! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2176.117.
Considering the today's price action, probabilities will be high to see a movement to 2157.430.
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, 2088 should be holding for the momentHello everyone,
price action in Gold continues to be very strange and we saw a significant move to the upside after a bear trap formed below 2000. The move went directly to the 2088 resistance (and orderblock) and a correction from the local overbought conditions is likely.
The elliot wave count at this stage is very unclear, but I left my count on the chart. It's still possible to break down again towards lower price targets in the 19xx area. At this moment it's not clear at all for me.
I would like to see your comments and wave counts below, so feel free to share.
GOLD BEARS ARE GAINING STRENGTH|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 2129.381 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Gold can leave pennant, break support level and then make retestHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price recently traded in the buyer zone, where XAU soon reached the 2040 support level and broke it. After this movement, the price made retest and then started to trades in an upward pennant, where firstly Gold made a strong impulse up to the current 2150 support level, which coincided with the support area. After this, the price broke this level and rose to the resistance line of the pennant, but at once turned around and in a short time declined to the support level. Soon, the price turned around and some time traded between the resistance line and this level, and last time Gold fell to the support line of the pennant, where at the moment trades very close. So, in my mind, Gold can exit from the upward pennant, break the support level, and then make a retest. After this movement, I think also that XAU can continue to decline, therefore I set my target at the 2110 level. Please share this idea with your friends and click Boost 🚀