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Goldsignal

Gold could drop 500 pipsSince 21th of July's low, Gold has risen more than 1000 pips in a clear uptrend. However, the rise from the 1755 low is drawing a rising wedge pattern, and also the price action from this week has put an H&S on our chart. A new attempt to conquer 1800 failed yesterday, giving us the right shoulder and the idea that bulls may very well be done. At the time of writing Gold is trading under ascending trend line support (also confirmed by yesterday's high) and exactly in the horizontal support A break here could lead to a steep drop to important 1740 support. Interim support is at 1755 (horizontal support and rising wedge's target) and this bearish outlook is negated by a daily close above 1800. Sell rallies remains my preferred strategy
OANDA:XAUUSDShort
by Mihai_Iacob
28
Gold- Time for correction?In my yesterday's comment I said that Gold could rise above 1800 and, indeed, the price spiked up. However, bulls were unable to keep the price elevated and the market closed with the price under this important figure. From a technical point of view, the rise since the beginning of August is in a rising wedge and the support of this pattern is now broken down. A correction could follow from this point on and, in my opinion, rallies should be sold. I'm bearish on Gold as long as yesterday's high is intact.
OANDA:XAUUSDShort
by Mihai_Iacob
2
USDCHF INTRADAY LONGHI Team This pair will reach double bottom on daily support in line with USD news event tomorrow. I am expecting USD strength, and therefore a corrective breakout following this period of consolidation and correction. For detailed USD news information please see my gold analysis for the week. Scalp short to our buy zone has just been posted if you want to build capital prior to this trade - see linked post. Like what I do? Please like, comment and subscribe! Good luck, Trade safe DrBear
Long
by DrBear
1
Gold- Do we have a top?In my yesterday's analysis, I warned about Gold approaching a very strong resistance, a level that acted as support for the first 6 months of 2022 and the possibility of reversal. Indeed, the yellow metal has reversed from that level, leaving a long-tailed candle on our daily chart with strongly bearish implications. After this 300 pips drop, we assist a normal correction that can offer a good opportunity for bears. That being said, in my opinion, rallies against yesterday's high should be sold with a target in 1740-1745 support
OANDA:XAUUSDShort
by Mihai_Iacob
23
TRADE OF THE WEEK | Classic Trend-Following Trading 💰 Hey traders, I told you many times that Gold is bearish and that bearish continuation is highly probable. Following this analysis, I managed to catch a nice trend-following trade this week: after a sharp bearish movement, the price started no consolidate within a horizontal trading range. The price broke and closed below its support then. Shorting on a retest, I caught 540 pips of a pure profit. Great winner! Did you catch it? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
10