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Goldsell

Trade of the week-massive gold short not to be missed!Hi team, Gold was my trade of the week last week too. We hit TP one, and then saw reversal. So we have already made some profit from this pair! Analysis: Now things are aligning really nicely for the excellent risk reward ratio sniper trade! Last week the analysis was of an ascending wedge, but now we can see that what we are actually moving through is an ascending ABCDE Elliott wave correction. There are multiple confluences here: One.) We are expecting a tabletop which is usually a sign of reversal Two.) We expect to see the last phase of the Elliot wave correction at the same time as the double top Three.) We hit both a strong resistance level, and a strong daily Fibonacci level, and the daily descending timeframe channel News: This is another big week for US dollar news, which always impacts gold. For this reason it is really important that we get to the best possible entry, to mitigate the effect of news impulses and spikes. There is some moderate impact news from the USA on Monday, but the big hits will come on Tuesday, Wednesday and Friday. Expect some volatility on Tuesday until Powell speech is done. The greatest volatility will come on Wednesday, when we see core inflation statistics released. I expect this may be the week we start to see initiation of the US tapering program. There is also some big news on Friday, but it is likely not to be of serious impact if the trade is running by then. For the most part the news shouldn’t be an issue, unless it is at our point of entry. This is where sensible risk management is an absolute mast. We can take advantage of spikes in the news around our area of interest to gain a slightly better entry for short. But we should always make sure we keep our lot sizes small, and our risk management in the forefront of our mind at all times. Trade Plan This will obviously depend at the time we reach our area of interest. If it is not during high news volatility, then we can enter as charted. If however it was within a few hours either side of one of these major news events, it will require close observation on the smaller timeframe to look for best possible entry, possibly on a new spike. Personally I will be using 1/4 of my usual lot size to allow for accommodation of margins during periods of volatility this week. The analysis – just like all of my other gold analysis to date – is sound. But gold is a volatile market that moves very quickly, and is intricately linked for better or worse with US Federal reserve decisions and news. So let’s try and take advantage of a good set up, without exposing ourselves to frustrating losses on news spikes. Good luck and trade safe! DrBear
OANDA:XAUUSDShort
by DrBear
4
XAUUSD shortShe's going down guys. We can see that DXY has hit the 0.5 level of the fib retracement and bounced off ( or In the process of doing so) and we can see that Gold has come to retest the support of my upward channel that it broke down from last week and that's all I need as far as confirmation to short the gold. But when DXY reaches the top of it's downward channel I expect it to breakout BUT it might not see be ready to TP early on this Gold short. let me know what you think in the comments
OANDA:XAUUSDShort
by s6ixfiv3
Gold idea what do you think?This is how i see it on a longer TF... It has worked in the past As i see it i can see a bullflag forming and waiting for it too be completed... So for now I'm in a buy since 1775 with my SL moved to 1800 so the trade will close in a profit if SL hits. I have not set any TP and Will continue holding this for potential long term so lets see. Where i have pointed out the sell entry is around 1837-40 and will update an SL later but it will be very tight. Now lets see... I have been watching other ideas from people but it looks as if many of them have been stopped on their sell idea with SL at 1808. Better luck next time and in future! It is always best too wait Drop your thoughts and comments on this Thanks for viewing.
FX:XAUUSDShort
by Abzii
1
GOLD Sell Setup Target 1743As yesterday I gave update on GOLD that it is moving sideway and will have a strong move in middle of this week, might be tomorrow or day after tomorrow. Till that time a short sell setup has there where you can make a good profit. Although GOLD went high move 1766.91 in sideway. Place your order according to your risk. If it moves above 1768 then we may see further move to 1772, 1784, 1791, 1800. Be tuned for for long term. If you like our idea follow, like and comment
TVC:GOLDShort
by ProTradingPoint
GOLD on it’s way to 1735As per yeaterday analysis GOLD is moving perfect on it’s way to 1735. Currently price action is very slow as GOLD trend is sideways, it will take aggressive move in the middle of this week. 1750 is point where market can be judged. Price above 1750 is a potential reversal zone and if it’s down then bearish. But here it’s sideway between 1772 and 1745. Now at present price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish market. The Relative Strength Index period 14 is at 30 levels with the signal line pointing Buy signal. Manage your risk and trade at current situation. Make sure to check out our analysis tomorrow and on Wednesday when we will share our longer term view on GOLD.
TVC:GOLD
by ProTradingPoint