From the present rate, immediate resistance is identifying at the 1800.00 price zone and immediate support is identifying at the 1760 price zone. we should wait between the 1800 and 1760 price zone. There is no doubt trend is down, but in this current situation, the market is expecting an upward correction. but this week market is unable to break above 1800.00...
wating for formation of H and Ss pattern for short trade on gold after breaking neck line OR waiting for breaking and bouncing off the next resistance level at 1760 for long trade up to next resistance level at 1810.
xauusd is expected to be in downtrend.....
💡 Trade Idea 📉 Sell Limit XAU/USD @ 1825.05 🎯 Target Profit 1799.44 🛑 Stop Loss 1837.78 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price is trading within a wedge formation in a “wave 4” as per Elliott Wave Theory. A higher correction might be expected and then a move downward to the 1799.44...
Next week im looking for a small pull back and then a bullish run to start up towards 2k. As the reddit crowds start to gather around silver its only right gold follows i think we will see both hit all time highs within the first quarter of the year. Good luck everyone
((GOLD UPDATE )) MONTHLY TIME FRAME: pullback TO 50 % fibo level and formation of bullish engulfing candle . WEEKLY TIME FRAME : formation of higher low above strong support level (1845) after pullback. DAILY TIME FRAME : reaching the 0.61 fibo level ( MA 200) as a pullback after breaking daily down trend with good rejection above the strong support level...
1. Price breaks the previous highs in the 1818 range 2. Price pulls back (ideally in a flaggish manner) to form a higher low than late November 3. Price breaks above the high formed at 1. 4,5,6. Price moves toward target levels. Look for levels to act as resistance from below and support from above.
XauUsd is correcting. That support zone is ~35% correction.
Gold Sell Stop @1970.00 SL: 2020.00 TP1: 1940.00 TP2: 1910.00 TP3: 1870.00
Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Prices collapsed towards the 7-month ascending channel. The bearish momentum will likely rest when prices have reached the MA for support, if the long-term bullish trend is to continue.
I assume Gold will form cup & handle pattern. We can clearly see the cup and the handle will be formed before major breakout. It has to correct before breakout. The correction could last 4-6 months or more. Be Patient.
Firstly, please support our work by clicking like button or following! These really assist us to reach more investors & traders like you! There has been a strong divergence between price action & the RSI. A breakout of the RSI triggered a bullish run that has taken gold to new highs but still a far from the upper resistance line of the channel.
On first analysing the week the initial opening I believe would be to make the1778 resistance level, as seen on the chart this more or less forms a double top, some may deem this a cup and handle, I see a short lived pull back to the 1770 area, (new entry at this point TP:1844), it became evident a copy fractal was starting to form (cf1) on placing cf2 in place, I...
Gold has hit the resistance trendline of a bullish (falling) wedge clearly seen on the H3 (3 hours) chart, I expect the metal to fall towards the support level and even beyond it to hit the support trendline of the wedge. This fall could mark a break of the D1 (1day) bearish (rising) wedge. This is my idea and I stand to be corrected. Trade smart 🔅
PDN has been in our watch for a long time. Looking from a monthly prospective a possible double bottom is forming. If the break of the neck line occur we expect over 200% rally from current levels. The break of that neckline could also be the beginning of the bull rally that the U-Bulls are waiting for years. In all these years since the last radioactive...
The gold peaked twice at 1739 and started to fall amid a bearish butterfly formation. Gold continued its bullish stance from the previous week as it climbed steadily in the first 2 trading days last week. After peaking at 1747, a strong pullback took place and price started to fall and lower highs were formed while still supported at 1710. On Thursday, the price...
Hi Guys, On Feb 20 markets started to go down due to COVID19. Here I posted some daily screenshots of: SPX, DOW, NASDAQ, DAX, CAC, FTMIB, FTSE, WTI When economic conditions weaken and risk appetite decline, Gold normaly goes up because it is considered by many a safe haven. But the move in Gold did not happen right on Feb 20. Instead Gold went down to find...