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Spotgold

Gold potential longGold very recently dipped in to a pool of liquidity (last significant low before a large move up) that led to the parabolic rally that printed new highs. As soon as the violation happened we saw rally that violated the bearish market structure on the daily timeframe giving very bullish signals. This correction might not be over but there is an opportunity to buy gold and ride it to 2000.00 and potentially higher. I don’t know what the market is going to do long term but for now PA is pointing me in that direction. I’m waiting for a dip in to the zone I highlighted below. I would have a limit order be I haven’t been following gold long enough to be sure of its levels/zones just yet. I will have to watch this carefully and monitor price when it reaches my levels. Let’s see how this one plays out.
OANDA:XAUUSDLong
by Golb
Gold needs to find support and soonSpot Gold has been hurt by a run higher into the USD and buyers will need to hold some support soon. We are watching the 1868 zone to see if buyers react and start a squeeze on sellers for a run up. The latest trend is down and momentum may be enough to push price even lower which would open up a move down to 1794. We expect to see a reaction around 1868 although only time will tell whether a higher low will stick for a buying opportunity and for recent sellers to be squeezed back out of the action. ------------------------------------------------------------- WE TRADE WHAT WE TEACH Check out our recent Live Streams from our profile page!! ------------------------------------------------------------- ** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. ** ** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated ** ** With quality alerts and correct Risk Management, you can learn consistency and grow your account ** ** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
OANDA:XAUUSD
by TradeTheStructure
Gold idea TRIANGLE Gold markets have pulled back a bit during the trading week, only to show signs of strength again just above the $1900 level. I do believe that the $1900 level is going to continue to offer a bit of support, but at the end of the day I think you have to be very cautious about getting overly bullish as the US dollar seems to be trying to recover If we were to break down below the $1900 level. I would recommend buying it $1800 underneath, because it was so structurally important in the past. Beyond that, I think that the market will do everything it can to find buyers, but if we were to break down below the $1800 level then I think we have to kind of rethink the entire situation. Longer-term, I believe that gold goes the 2500 based upon a whole slew of things including the Federal Reserve, global growth stopping, and of course geopolitical issues such as traits bounce between the United States and China. I have no scenario in which I am selling currently. In short for myself i will short 1937 when market opens to 1917-1920 and then buy at that point and stop loss at 1900-1907.
FX:XAUUSDLong
by gon5613
Gold Long Trade *Inflation Hedge*It is no secret that all central banks are now willingly and actively printing currencies to keep stock markets afloat. The U.S are leading the way and the dollar is weak. Against other currencies that are also seeing money supplies increase, the effects of increased Dollars is diminished but against Gold, which cannot be printed, we are going to see large weakness. Buying gold against any currency is a good idea in my opinion however i am not one to simply buy at any level. I will always wait for technical analysis and price action to produce an accurate and discounted entry price. That is occurring right now. "Fundamental analysis tells you what to buy and why. Technical analysis tells you where and when to buy it." On the spot gold vs USD chart the 50EMA is above the 200EMA (bullish alignment) on all timeframes from the weekly down to the 4hr. Price broke out of a wedge consolidation pattern last week and it is now selling off and pulling back to the structure and price support zone around $1900/$1920 oz which I believe is a great place to buy in to the next rally. We have the 4hr 200EMA and daily 50EMA residing in the zone and lots of previous buyer support. Upside targets for me would be $2200 per ounce in the near term (2020) and then $2500 per ounce through the next 12 - 18 months. I know some Wall Street banks analysts from GS and BoA are predicting $2300 and $3000 respectively.
OANDA:XAUUSDLong
by UnknownUnicorn772665
1
Spot Gold Analysis 10/08/2020Gold has been on a crazy run recently assisted by the coronavirus pandemic and more recently, the USD weakness. I can see some signs of momentum slowing here but shorting is risky long term with such uncertainty in global markets. That being said, today there is some nice rejection of the daily pivot level and price is breaking below the 1hr 50ema after crossing the lower timeframe EMA's last week. There could be some short side potential in the near future and price might go back to retest the $1980 support/resistance zone. From there, price might likely bounce or a break of that level could see more downside. A lot rides on whether USD will continue to weaken from here or whether the US fed will ease up on their stimulus and money supply increases.
OANDA:XAUUSD
by UnknownUnicorn772665
2