XAU letting the shorts cool then looking for upsideThis is an idea not a advice
News drifted Gold to the lowers side, now looking for supports and stabilisation before moving back to its average price.
Goldspot
Gold will come back to the $1800 level?On 16 July, gold has crashed over 60$ during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.
GOLD - COMMODITY EXCHANGE INC.
FUTURES ONLY POSITIONS AS OF 07/27/21
(CONTRACTS OF 100 TROY OUNCES) | OPEN INTEREST: 500,187
NON-COMMERCIAL & COMMERCIAL TOTAL
-----------------------------------------------------------------------
LONG 452,107 | SHORT 481,533
Ref: CFTC Gov
And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107 . But, gold prices increased.
We have to notice that the bullish rally wasn't powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence gold has moved bearish side in the last trading session.
If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold's prices above 1840 - 1860 - 1882 - 1900 .
But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1793.6 - 1783.6 - 1763.6 . Gold is making double top formation also.
XAU Long This is an idea not an advice
Looking at long after strong institutional upward after recent news and current correction, as expected in the post i made before.
However if the trend violates the red zone and drops below it will move back down to last support around 1795.
Fundamentally, due to pressure of inflation, gold is a security that most will look towards as a safety net. So upwards is mostly expected.
XAU ShortThis is an idea not an advice or guide
Bouncing off that EMA line, now looking strong downward momentum to reach stronger demands to push off to the top.
XAU ShortThis is an idea not a guide
Reasons for short
Red engulfing after reaching liquidity area
Head and shoulders formation
VWAP arriving towards the demand area
Price looking to stabilise before having enough demand to push off again
Gold, falling wedge pattern at H1OANDA:XAUUSD
It's my perception.
Lets see..
DISCLAIMER :
What I publish is my analysis for your overview. At your own risk.
Short XAU/USD This is an idea not an advice
Reconsolidation
M shape formation
Close to resistance
VWAP and EMA below, which will be the demand area
XAU SellThis is an idea, not a guide or advice
We are currently observing a move to the down side after reaching liquidity zone, which was too much resistance. However, the downwards shift will test the demand area. If it holds, we will look for a move up to the current resistant area again. If it does break through that demand zone , we will possibly be looking at previous weekly and monthly supports.
Gold is about to break the long time descending channelGold has been on a decline path within 6 months or so, now by getting support of Ichimuko and gathering strength from the previous bearish leg and also getting provided by enough support from lower boundary of the channel, IS READY to make a move and find its way up. So keep an eye on it and hope we'll see its drought come to an end.
Trade Safe ...
XAUUSD 4H EFC REVERSAL INDICATOREFC REVERSAL INDICATOR
Shows Long/Short ENTRY Signal
Shows Long/Short EXIT Signal
Gold Price 2021 Roadmap - EWTThe Gold spot started the bearish Elliott wave on the daily timeframe. Right now, it's making the 5th wave. It has to cross 1824 - 1800 - 1776 to complete the fifth wave. The fifth wave will complete around 1690 .
If there will be the upside breakout of wave 4 , then it's a failure of the Elliott wave pattern. And the target for the uptrend will be as following 1980 - 2000 .
GOLD in Long term, May Get bullish...the momentum Divergence's Tell Us a long term Buy on the way...
XAUUSD - Gold - Advantage in Weak Economy Gold is favorite tool for Hedge Fund managers and other big players, They discussing now if Stocks on peak and can get correction so they will join Gold to defend their portfolios.
Gold range 2200 for upcoming weeks and months.
Focus on Gold- retest trend, gain more or not ?Key level: 1900$, if the price break down key level, we can see gold at 1800$
GOLD: DOUBLE HARMONIC BAT PATTERN IN D1 TIMEFRAME! 🔔Welcome back Traders, Investors and Community!
Analysis of #XAUUSD GOLD
If you have found this useful then help us support my page by hitting the LIKE button.
If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you
It means a lot to us!
***
Strategy: Bearish BAT With potential Max R/R 2.09 - We will be waiting for all the confirmations to enter in this trade.
A clear chart is Always the best business card for a trader.
***
Your support and feedback will always welcome
Thank you for your time.
The information contained herein is not intended to be a source of advice or credit analysis
Regards,
Walter
What is the Future for the Gold Spot?The Gold spot has started to fall from the 6th of August 2020 and still falling. But it's moving downside with fluctuation in trend. It started to rise for a short period from the 30th of November 2020. And now, the trend will fall up to hurdle by crossing 1876 - 1872 . After the breakout of the hurdle( 1872 ), the trend will hit 1866 - 1860 .
But if the trend takes reversal from the hurdle and crosses the resistance, it will hit the following levels 1900 - 1906 .
xauusdif price can pass the RED BOX and White line we can go up to 2069usd
but if price gets rejected from each level mentioned can back and test the support zone
I am bearish on GOLD WEEK OF 14TH DEC 2020I am bearish because, the pattern shifter over after hitting the 1875 area of support and reversing abruptly.
The potential area of bounce or TP1 and TP2 Zones are the marked rectangles.
Keep an eye on the false breakout area. It is possible but not mandatory.
THE BIGGER PICTURETesting triple support! This may help confirm an uptrend if we bounce off of 12D & 200D SMA.
