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Xauusd4h

XAU/USD. IntraWeek. Short. R:R 5:1 !!!Hello traders, here we come to a pivotal point in the chart for gold. Based on previous price action we see that gold has already reacted to this price zone 3 previous times, each time coming into the zone before price retraced as large sell orders were added. We should expect this to happen again as this is where smart money has placed shorts, coupling this with the 4 hour RSI showing overbought levels above 70 we would expect gold to blow off some steam and more sellers to take over, this is also a supply zone where I would expect more institutions to begin selling and adding more shorts. This makes for a very high risk reward trade where you can expect very minimal negative equity so would be able to use a better lot size. At the time of posting this gold has still not reached my entry price as I am specifically waiting for price to wick into the blue zone marked. At this point institutions should begin profit taking and unwinding their buys from 1760/80 whilst adding more sells at this price point. In the contrarian bullish view we would see this bias become invalidated as soon as price reaches above 1840 although I simply don't see institutions letting it reach there. Open interest on gold futures also has been increasing whereby I expect these to be more sells being added for the longer term. Reasoning - because the supply level at 1830/36 is so high I remain bearish despite their being a lot of liquidity above this area I don't see it being fully collected as the market sentiment is bearish, we just need to wait for gold to finally touch the grey line at which point it should turn bearish. Note we could be stuck in this ascending wedge pattern till tomorrow when CPI data is announced at which point I will update this idea.
OANDA:XAUUSDShort
by GreyTrades
5
XAU/USD - 4H Chart ForecastAs per previous forecast, gold are rallying up to making wave 1 in Daily Chart. First target top of wave 1 is at 1797. From the movement, can see clearly that wave 3 in sub wave M30 chart are making wave 3 and if not extended it will be stop somewhere 1784. since wave 2 are sharp, we might see wave 4 in ranging bfr continue to wave 5. Please take note that validation counting support at 1739. breaking this support will having wave recounting. *Trade at your own risk, my wave counting has been simplified to 3 wave movement.
FX_IDC:XAUUSD
by danishfx_jb
GOLD ANALYSISGold has been recovered past few days quite well. From the monthly chart, We can see Bullis Head and Shoulders pattern forming. The weekly Chart also has the same pattern. On the daily chart, we have seen a nice move to the upside. After this impulse to the upside, we want to see a correction to at least the 1785-1790 region before continuing the upside. So, we will be looking for the price to give us a correction and we will look to go long if all the rules of the strategy satisfy. Feel free to ask me anything :)
OANDA:XAUUSDLong
by ng_forex
XAUUSD AnalysisOkay so, past 2 weeks gold gave a big drop of 100 USD which was expected as it is completing its bullish heads and shoulders in one month's chart which means a big bullish move is loading. Markets have been trading in a range for some time now. So, how can we approach entries??? We still have a bullish bias on gold as it's retesting a strong 61.8 Fibonacci level and we expect that gold might move up from this region. If you want to take a long position then take it do not wait because it will give you a +300usd move to the upside if head and shoulders pan out and caution do not short it's all just manipulations wicked market is doing to us. They just want to shrug off some positions by taking out their stop losses. Now, a request I want to make with you guys ------ I am an experienced forex trader with a verified record. But I have some financial constraints as I have not much savings and I am a college student.So if you please help me with an account that I can manage I will do it for you. Please I REQUEST TO YOU. HOPE YOU CAN UNDERSTAND MY SITUATION. I REALLY IN NEED OF THIS PLEASE HELP ME, ANYONE, PLEASE you can test me if you want but please help me
OANDA:XAUUSDLong
by ng_forex