GOLD - Only each day shut above 1730 would change this mid-termAs virtually everybody has anticipated, Gold reversed from 1680-1690 zone help and now could be buying and selling 200 pips above this essential zone.
However, for my part, this isn't a reversal of the leg down from above 1800 began in mid-August, however only a correction.
Looking at the posted chart we will see that above 1720 is a robust confluence resistance given by the outdated horizontal help and the falling trend line and right here merchants should search for promoting alternatives.
Only each day shut above 1730 would change this mid-term bearish outlook.
Xauusdwave
XAUUSD - GOLD CURRENT SITUATION#XAUUSD
According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast by BREAKING the TREND LINE. Due to this US10Y went down. The main reasons for that were the REPUBLICANS winning, and US CPI DATA being NEGATIVE.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, with LABOR DATA DOWN, GOLD is going up slightly due to US10Y DOWN. Anyway, we expect that GOLD will go up to 1818 LEVEL. After that, it may go down to 1700 LEVEL with the FOMC UPDATE. Be careful..
XAUUSD SHORT ENTRY walk throughFor the ones who did take the short position with me this is what i want to happen
1: A retest of the .236 lvl of (1630.175) for the 2 hour inside bar with a 15 min candle stick either closed under it but i want it to kiss it with a wick because itll be better sooner then later to actual see if this thing can keep going down
2: Once we do get the 15 min candle close under we would need it to break and closed under the vwap and mvwap because at the moment you guys can see it being supported on the chart
3:Break of the last .236 lvl of (1627.083) because it can be used as a bounce zone
4:The most important lvl of all is the 10% which is (1625.047) to break and close under watch to see if we can get a 15 min candle close under
5: TP 1
6: TP 2
For those who havent gotten into a trade yet and want to try to short watch what it does at the .236 lvl of (1630.175) that'll be ther best entry
Goodluck everyone
Remember to not oversize you nut
XAUUSD UPDATE........
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GOLD another sell is processLooking for the GOLD sell at current price or a bit above 20/30 pips.
and Targeting again 1910 Level and 1890 Level.
Price is still in bearish mode in lower time frame. Our previous Analysis was spot on where we look for sell at 1924/1925 and targeting 1890. link is attached. FYR.
Manage your risk price may go into the opposite direction.
XAUUSD Short From Resistance !. SELL !!XAUUSD is trading in an ascending channel
Has risen to re-test
The channel's ascending resistance line is at 2060 .
Which means we expect Bearish dip, but because it's in an uptrend
The trade will be in the opposite direction
We'll have to wait for the configuration to be confirmed
Before we make sure that the channel will be broken and a trend towards the support areas 1963
XAUUSD Short Buy !!
XAUUSD is traded horizontally
By breaking the descending horizontal resistance at 1895
I think the price will go up to the target shown in the chart
1912
XAU/USD (GOLD) TO THE DOWN SIDEXAU/USD (GOLD) will down from 50% area of fibo or it will down from 61.8% area. We can see the price to the more downside in the upcoming days for finishing the Triangle.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#XAU/USD #GOLD