Goldsignal
gold long position 17.05.21please understand this is a short trade not a swing trade. yesterdays daily candle closed beautifully with a lot of bullish pressure which price might want to act out again today. so far since markets opened, price has rejected to go lower and no our h candle has closed bullish which has high chances of pushing price higher. if price manages to hold the low that was created around 1824.28 and creates a new high we should see price reach our target as we have clean traffic to the left.
our signals- a. inside bar on the h1 timeframe, b. h4 closed bullish
confirmation- we need a candle to close bullish above 1830.56
GOLD top-down analysis, UPDATEDHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Gold Analysis ahead of CPI report. How long gold will drop? Over 3 weeks, gold is falling at a stance with out any major upside correction. FED is very hawkish in their statement, and it has big chances that they will rise bank rates several time more than 50 bp in this year.
To hike rates CPI is a very important report. So, if the CPI prints positive or more than 5% gold has chances to drop below its strongest support level of $1830. Breaking below $1830 will open the door more bearish in gold. And next target end of this month is $1800. And final target to the downside is $1787..
On the other hand, if CPI prints negative, we will see some upward correction as it has dropped huge. If CPI prints positive, 1st target to the upside is $1862. Breaking above $1862, next target $1877 and final target to the upside is $1900/1911
Gold H4 - Short Signal UPDATEGold H4
Selling off nicely here, a little consolidation, but seemingly breaking that short as we speak. As mentioned, the next target we have for this pair would be $1827.
We have been speaking about commodities in our members chat, and how we notice the last few weeks risk headlines hasn't really correlation with commodities trading directions.
GOLD top-down analysis, UPDATEDHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Chance to buy GoldLooking through the price action, Gold is clearly in an uptrend and is at the 0.236 Fib level, Which can prove to be a very good entry point for the long run. If Gold has to continue the upside rally , 2040 does not seem unachievable, an entry ar the current price between 1940 and 1920 will be a good price to buy Gold for Short and Long term . Stop loss can be at the 1910 price level , also 1900 and 1880 for risk takers.Looking at the chart in 4 hour timeframe, the correction might end soon and gold could continue on the rally upside.