Xaudusd
GOLD - XAUUSD BUY 11/10/2017
It is necessary to point out the new resistance level 1291.60 - 1294.20, which contains large volume that has stopped the growth of the price. Now gold is trading a little bit below this mark. Given the sure growth we should give preference to long positions, but only after a breakout of this fresh level. The move should be sharp and supported by increased/large volume. A stop loss should be placed below the breakout volume bar. A potential of the deal is around 150 pips.
The bottom line: long positions after a breakout of the resistance.
XAU/USD SELL - 05/10/2017
Despite the fact that the price remained trading in the local consolidation, it is necessary to note a fairly sharp fall of gold on fairly large volume. It is also worth highlighting the new volume support level 1272.20, which was formed during this downward movement. In addition, this level is the lower limit of large volume accumulation, which is concentrated in this consolidation. Therefore,breakdown of this mark will be an excellent signal for the continuation of the local downtrend.
The bottom line: short positions after a breakdown of the support.
GOLD IS STILL BULLISHSecondary test will lead to a shake out... Inertia steel above 50 on the 4 hour confirming that the uptrend is intact...
1 hour already oversold with heavy accumulation on increased negative momentum leading to a secondary test...
After it surplus will happens ... waiting for the 200 ema to show support is an smart decision since limit buy orders sit there and the specialist need to finish his job... However they can also scale up their position but most of the time they follow this system to fill large market orders.