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Goldtradeidea

Gold - Potential selling opportunity setup Taking a look at the 1 Hour chart on Gold, it has gone through a sharp drop since breaking its record highs above the $2000 level. Currently now the price in Gold has pulled back higher from its sharp recent fall and is trading in an ascending channel. This Channel has completed a potential larger 3 drive bearish pattern in the process. Why we like this pattern is that it has convergences at the 3rd drive high which also lines up with the 61.8% Fibonacci retracement. This current high is starting to look like there is a bit of price exhaustion just below the $2000 level as well. What we want to see is price start to breakdown on our lower time frames and locate any smaller bearish price patterns in the process to help confirm a possible move lower. We have also drawn a lower trend line as this can also increase the probability for a move lower and expose a good point of execution if this trend line gets broken to the downside for a possible retest entry short. If the price in Gold starts to continue its rise and trades above the pattern and $2000 level no action needs to be taken.
OANDA:XAUUSDShort
by DavidVillagra
GOLD - A Multi Time-Frame AnalysisSince my last GOLD analysis there’s nothing new to tell, which is frustrating, because that triangle / pennant should be triggered a few days ago. Now, the impression GOLD gives us is that is moving sideways and will spoil the chart pattern without a real breakout. The link to my last GOLD analysis is below, and I invite you to follow me to keep updated about the market, I do daily analysis here and you are welcome to join our community. Now, the most favorable scenario would be an upward breakout, because the main target of this trade would coincide with a previous top on the monthly chart, which is around U$ 1.8k, take a look: On the other hand, if GOLD is going down, the bears will have a hard time passing through some supports , like the support zone 1 and 2 draw in the daily chart above. In my view, these are strong supports, but if the bears manage to pass through them, the price can sink back down to U$ 1.4k again. Also, let’s look the hourly chart: The “war zone” is an important point to notice, it was support and resistance multiple times in the past, but it seems the bears can’t stand holding the price under that zone for too long. In any case, GOLD would be a hard trade to do now, and a long trade would be better than a short trade because of the targets and the Risk/Reward ratio, so I desire for a bullish sign here. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:GOLD
by Nathan_The_Finance_Hydra
Low risk setupNote the respected 1512 level marked and how a candle pinned the level and the yellow bar I was waiting for price to reach. 1. Rejection candle 2. Second candle is an inside bar 3. Top bollinger pinned 4. Capped trend line holding Ideally the confirmation will be a breakout from the inside bar pattern to the down side, this is where I will look to open my short position. This setup offers excellent risk to reward ratio and the target can be provisional (reversal pattern on daily time frame). Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
OANDA:XAUUSDShort
by Cmasterza
Gold short !We are expecting another bearish weekly candle. However if the trend change the direction and price goes above 1540 and 1550 next resistance then we can look for an entry point to buy. In both ways you should gain profit if you find the prime entry point and use the correct risk management. Hence , market is not your friend, lots going on specially global economical slowdown, reason why gold's price is high and it may goes above 1600 or even around 1800 in 12 months time. Just dont be greedy , slow but steady and focus on pips and percentages. Good luck. Enjoy drawing your charts and Have a fantastic week of trading ..
FX:XAUUSDShort
by Shourov_kk
Massive Explosion UP; Gold Cartel Tactics playing "Ping-Pong"Looks EXACTLY like the December 2015 / January 2016 action in gold. Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
FX:XAUUSDLong
by kaotic363
7
Gold forms another pin bar at key support zoneGold – Gold forms another pin bar at key support zone, will it move higher? Gold has been buoyant and a potential buy at support near and just above 1300.00 key level. We can see that price pulled back last week to 1313.00 area and Gold formed a small bullish pin bar there on Friday, indicating price may bounce higher from that support again this week. More conservative traders may elect to get long down closer to 1300.00 on a signal or a blind entry there. We remain bullish in Gold above 1300.00
FOREXCOM:XAUUSDLong
by PkTk13
1
Gold - Weekly stochastic extremely oversoldWhen in doubt take a look at the bigger picture! So far gold has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence. Looking at the slow stochastic it is extremely oversold and would need another two weak weeks before being able to embed. The much higher probability is a bounce in the next two weeks...
FX:XAUUSDLong
by MidasTouchConsulting
3