SHORT Gold remains vulnerable below $1326 levelsGold prices might touch $1217 levels intraday before deciding further short to medium term direction it seems. As discussed earlier, Gold might have hit a major resistance at $1326 levels recently that has potential to remain a major top going forward. Also, on the shorter time frames, the yellow metal might have produced an impulse between $1326 and $1302 levels respectively. Furthermore, the subsequent rally also seems to be corrective till now and might find resistance around $1317 levels or already found one at $1315.50 levels respectively. The short term counts suggest that the metal could be poised to continue dropping lower towards $1295 levels at least if not further. A break below $1280 levels would be extremely bearish for the yellow metal and a long term reversal could be on cards.
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Xaulong
Gold I'm neutral on.Highest point buyers moved was 1321.87 which is the white line.
THEN SECOND lowest point 1319.60 which is the the yellow line
Then price moved down to 1318.25 to the purple line.
price moved lower each time so buyers are dying out.
However the new candle stick opened closer to the high then it did to the low of the candle. so thats why I'm going to wait to 1306 to sell.
because to much spikes happen near that zone looks like a trap zone. everytime near that support level it kept spiking up.
See the green candle look how it wicked up 50 pips and closed higher mad fake outs at that zone
and the daily candle that happen after the green one look how it closed higher! from that last wick it was at the pervious day
why didn't it close lower I'll be patient. If I’m going to sell at 1307.30 I’ll take profit like 1298.64
Risk reward
you wanna settle for 45 pips ?or 100 pips
Gold - We're in for a Gold "crypto rush" - Goldrush 2.0Log view, we're sitting nicely on 0.236
Gold won't break down below this triangle if not oil breaks down... Currently there is no way to change the vehicle fuel to electric, it will take 5-10ys of development. Trucks haven't even made that shift yet. (Tesla/Volvo not there yet)
Gold currently costs more and more to mine with a absolute breakeven at 1100, a more just estimate would be 1150 and growing with rising oil prices + physical demand + scarcity.
Conclusion --> this could lead to gold rush 2.0
(if u think prices can't move much above mining cost for 1 oz... then think about Bitcoin trading at 16k costing 1.5k usd to mine with the best equipment... This would put gold at 13k so don't bring up that crap)
TRUMP will be able to secure the US future by driving up the Gold prices to pay of national debt and regain control with Dollar as the world currency. This is not a farfetched theory. We can either have a new world currency --> crash horrible situation on earth, wars before that happens... or Anarchy cryptos --> blood war and suffering before their utopia will be achieved by the banks capitalisation... or pragmatic deflationary cryptos like Ripple --> slow increase of the populations power compared to the banking cartell .... or higher gold prices --> a fair spread out of power of the world regions USA,Europe,Asia
deflationary non anarchy crypto + gold backing or just as a reserve investing option could once again slowly assure the power given back to the people in regaining control from the evil satanic twats in control of wealth and everything that happens pretty much the way it does and has been on earth.
It's your choice which future you choose to invest in. I would recommend one that causes as little people killed or harmed as possible
XAUUSD Hourly, break it or make itIn our case we have trend line being hit and respected, historical support and resistance area respected thus far, 0.618 fib retracement on higher timeframe, and a 0.382 fib of recent bullish leg being our first entry.
You can see the breakout from the consolidation channel within orange.
Buying zones in strong light green.
If we close below 1260 we will most likely see at least 1250 within a near future.
Gold: Possible scenario for continuing the uptrend.With the approach to the upward support level, long positions can be opened with a target in the area of 1300. I do not like the price dynamics at the moment of breaking up the resistance level. A short stop can make a profit in case the upward movement does not develop in the area of 1300. But for such a scenario it will be necessary to track the situation inside the day.
XAUUSD (4h) Long setup, simple structure trend cont.Simple structure and trend continuation setup.
We have previously strong resistance to, hopefully, act as our support in this trend continuation trade.
Together with the support, we also have a trendline which should add to the case.
..and we also see the double bottom at the previous resistance level.
This pair has been respecting structure and trend thus far, the only signal I needed to enter was the bullish engulfing which is seen on hourly.
We're in, target previous highest close.
Stop loss below trendline.
(Break and close under trendline will invalidate this setup for me.)
XAUUSD Bullish Gartley within pennant 4H/1DBullish gartley completed at D leg, buy order pending for a retest of bullish trendline (bottom of the bullish pennant)
With the gartley completion we have;
Oversold condition
Structure(support)
Bullish trendline (support)
Marked my stop loss and target levels.
Happy gold digging
SHORT-TERM BULLISH GOLD AFTER HAMER CANDLEWith lousy and direction-less equity markets today - Europe rollercoaster, US hibernating - let's take a look at Gold. The precious metal yielded a near-perfect bullish hammer candle today. I usually like to see those at the end of a longer downtrend, but would never want to ignore a hammer, when I see one.
My longer-term technical work suggests a fresh bull cycle for commodities and Gold, and with that in mind, today's hammer becomes more interesting.
Fundamentally, is this is a hint at dovish Yellen in Jackson Hole? Let's see...
Targets: 1374
Stop level: 1332/31