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Goldsell

Ending fifth wave diagonal = bearishThanks for viewing, While I find Elliot Wave difficult to use well in trading, I find it useful in gaining perspective on the market and brainstorming possible moves. You can see the breakout from the 1711.10 and the price channeling strongly. If wat I have labelled wave 1 and 3 are correct (wave 3 does meet an over 1:1 extension of wave 1 and I had a target of 1782.99 or similar. What is irrefutable: 1. At some point price left the bottom trend-line of the channel and started a newer much less steep rise that I am sure a lot of you have found challenging to trade. 2. If you draw the channel like I did, after the price breakout, it re-tested, and was rejected. 3. The price has been steadily, albeit slowly rising. But definitely doesn't have any characteristics of an impulse wave. 4. Since setting 1767.90 on 29th July there have been a series of swing highs and lows that made three higher highs and three higher lows. I have marked with blue boxes areas with retracements of over 50% - which is normally indicative of a wave 1 and 2. Earlier I was expecting a very extended wave 3 to go exponential as several wave 3s (iii, (iii) etc) of wave 5 unfolded - but now have switched bearish. None of what I presumed to be wave 1 and 2s have extended to a 1.618 extension and they resemble 3 wave waves rather than 5 wave moves. So energy is being stored up before a breakout and I have started to presume that the breakout will be downwards. Near term target 1751 and possibly lower. Correction inbound. I hope you like my artwork there in the corner. Protect those funds and good luck.
TVC:GOLDShort
by flyinkiwi10
GOLD WAVE TWO SELL - DO NOT MISS THIS!!Hi Team! This week has been SO successful for us - my analysis of Gold and EURUSD has been especially on point. Please see linked post for deep dive fundamental analysis on Gold. We had a lovely scalp buy yesterday to the 0.618 Fib level, and we are now in the end region of wave two consolidative correction. We have USD high impact news at 1300, and I expect this to be the driver of a drop. It is worth noticing that spreads and volatility are likely to push price up a little - perhaps even as high as a double top - before true market direction takes hold and we see a drop. Please use risk appropriately, advise set stop loss to break even once at TP1. I put a lot of effort into these analyses, so please like comment and share! Be kind, trade safe. DrBear
TVC:GOLDShort
by DrBear
4
GOLD: Bearish Inside Bar + Pin BarGOLD – SPOT: Selling On Breakdown Of Bearish Inside Bar + Small Pin Bar (Combo Setup) Price Action: Price formed a Bearish Inside Bar + Small Pin Bar (Combo Setup) overnight. Price moved lower from within the range of the prior Multiple Inside Bar Breakout that had triggered on Tuesday July 12th (We suggested selling on a retracement higher into the range of this Breakout Pattern in the July 13 members' daily newsletter). Potential Trade Idea 1: We are considering selling on a breakdown of the current Bearish Inside Bar + Small Pin Bar (Combo Setup) Potential Trade Idea 2: We are considering waiting to see if the current Bearish Inside Bar + Small Pin Bar (Combo Setup) turns into a Potential Bearish Fakey Setup. Potential Trade Idea 3: We are considering selling on a retracement higher to within the range of the prior Multiple Inside Bar Breakout that had triggered on Tuesday July 12th.
GShort
by UnknownUnicorn393254
Potential Retracement From SupplyGold - I want to see a push into previous supply mitigating the imbalance before a retracing down towards the buy zone/weekly low Let me know your thoughts! * Disclaimer ** These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
OANDA:XAUUSDShort
by benalistarfx
XAUUSD LONGAs gold is in a Short term trend, The question is why i am saying that it has the potential to go #Long. Now, as gold has recently break its level at 1730.00 which indicates that it is gaining momentum. Second, gold makes a double bottom which indicates that the price is taking support at 1704 which can result in hikes of price, resulting in testing it supply zone. First supply zone at 1730 and second supply zone at 1760, which is indeed a good zone to place your sell orders.
OANDA:XAUUSDLong
by Ahtisham_The-King-Fx
2