boyinjungle

boyinjungle

Yesterday Gold was able to break all the resistance levels to reach the 1844 level. I am sorry for not mentioning about the divergence in volume and candle sizes for 4 hour chart on 18.01.2022. This is a hint for yesterday's move. Today the important levels are 1828 and 1838. If price breaks the 1838 level in 4 hours and gives confirmation candle closing below...

boyinjungle Updated 

Yesterday gold touched the 1808 levels and pulled back. So now the momentum is bearish and gold is still not able to cross the bullish trend line. Today the price will range between 1808 and 1818. There is good order block above 1804 levels. So this is good buy zone. I suggest to short at 1816 with SL at 1824 and TP at 1808. If price reaches 1800 level then it...

boyinjungle

Yesterday gold is not able to break the 1822 level which is near the bullish trend line. The US bank holiday may be reason. Seeing the lenght of bearish candles longer than bullish ones and decreasing highs the trend is bearish today. I see price may test the levels of 1812 and 1808 today. So go for short with SL at 1824 and TP at 1810 with trailing SL. Please...

boyinjungle

Friday Gold closed below the trend line. So for now 1822 level will be the test for bullish trend. If 4 hrs candle closes above 1822 then 1828 is the target. Looking at the decreasing gap between Highs the price may see a reversal and test the support at 1808. I suggest to go for short at 1822 level with SL at 1832 and TP at 1812. However if price goes to 1802...

boyinjungle

Today gold will finally decide where it is heading towards. This week even after two important news it is not able to break the previous High. This is showing less buying interest at price above 1828. So gold needs to retrace back to one or two support levels to gain momentum for breaking the 1828. As from yesterday we can see long wicks in all bearish candles....

boyinjungle

Yesterday the news was positive for USD. So Gold did not have enough support to break the 1828 level. So now it may come back for retest of 1818 level and try to breakout. As I marked the volume is very high for this bullish wave. So I am expecting this time gold has enough momentum to break 1828 level. But before trying to go high it will have a minor pull back...

boyinjungle

Yesterday Fed Chairman interview helped to fly gold and break the bullish trendline and 1818 levels. Momentum is still positive. So Today Gold can range between 1818 and 1828 levels before going ahead to break out. I suggest to go long when price comes around 1818 with SL 1808 and TP 1845 Please share your thoughts

boyinjungle

Today gold is able to break the 1796 level and also is testing the 1808 level now. Momentum is still positive and as we can see the accumulation with double volume I hope this time Gold will break the trend line and try to make a Higher High by touching levels above 1828. The three levels where price can see a reversal today are 1812 - 1818 - 1828 I suggest to...

boyinjungle

The price is still ranging between 1796 and 1786 levels. The Lower High at 1829 indicated about the Lower Low. From friday chart we can see the Lower Low as 1786. So price needs to climb to form the next Higher Low which can be 1808 - 1818 marked with ellipse. However price may test the 1786 level once again before going to form this lower high. I suggest to go...

boyinjungle

I can see that finally the bullish momentum of Gold has slowed down. The Lower High and Lower Low yesterday gave a hint. Today the NFP news will confirm the direction of gold this month. For today I will go long with SL 1784 and TP 1796 - 1798. Let us see what will be the next lower high

boyinjungle

Yesterday Gold made the first Lower High after three weeks of bullish momentum. The impact of positive USD news also helped in correcting to levels below 1808. As I can see there is ascending wedge pattern which may be broken out in one or two more peaks. Considering the pattern I expect a breakout to 1845 level. Today I suggest to go long with SL 1796 and TP 1828.

boyinjungle

Yesterday the news is in favour of Gold. So there was enough volume to pump up to 1816 level. But as we can see the long spikes of candles before the news came out telling us about the selling pressure at the levels below 1808. Fibonacci also tells the price retraced to 62 percent level at 1816 after the waterfall to 1798. So there can be minor pull back. The...

boyinjungle

Yesterday there was a waterfall. The 4 hours suggest that candle between 1827 to 1806 has lesser volume and more drop compared to the candle between 1810 to 1800. So this means there is going to be a reversal. Volume suggests the value zone for today is between 1808 to 1813. So these levels will act as support and resistance for today. From the chart we can see...

boyinjungle

Gold respected the resistance level of 1828 and started to retrace after touching 1830 with spikes. These minor corrections are necessary in uptrend to go higher high. Case 1: Gold will test the 1818 level to form a low and will start to rise for new higher high. However for this 1834 level is important. If Gold is able to close above his level in 4 hours then we...

boyinjungle

As we can see yesterday and day before yesterday there was SL hunting. Now Gold resumed its bullish momentum and is at a weekly high (may be monthly high too). Scenario 1: Gold may go to shoot 1828 level keeping in view of the rising Covid cases. Scenario 2: Now it can come retest the 1808 levels before it goes to touch the next level of 1828 keeping in view of...

boyinjungle Updated 

As we can see the momentum is positive. Yesterday we have a higher high and prices touched 1820 level. The price settled at 1806 making this a support by forming a lower high. So today the value area will range between 1806 to 1808 having the Control Price at 1812. Also we can see a wedge forming near the 1818 price. So expect a breakout here. May be this breakout...

boyinjungle

Dont expect much volatility today as there is bank holiday. Seeing the chart candles I see the value zone is ranging between 1807 to 1814. So the 1810 price will act as Control Price. If Price goes near 1814 see for short opportunities and TP at 1810. If price goes near 1807 see for long opportunites and TP at 1810. However due to lesser volume we cannot trust on...

boyinjungle

Yesterday the bulls were un-stoppable and they successfully broke the 1796 barrier which they have failed for last three times. The 50 EMA is around 1794. The 4 hour chart has confirmed the breakout and from now 1796 is our support. However lets wait for the daily candle also to close above 1796 today as this is a test candle. Once the price closes above 1796 and...