It's been quite a while since my last idea.
This time I want to try using different approach for my analysis.
IF in the next couple hours GOLD stay in this price (around 1826) we can see a divergence in the 4h chart.
Usually when we see a divergence. It means as a reversal signal. But this time I use it contrary.
The key here is two support zone in the small blue...
This is not an analysis just yet. Because I'm still experimenting with this.
If I turn out right I will post how I find the target later.
1st Entry : 1843
Buy Limit : 1840 (slightly bigger lot)
S/L : 1830
TP : 1880
This is just my analysis and I didn't have any open trade on XAUUSD right now.
I will input a long or short position to indicate when I have open position just like my previous post.
Don't just blindly follow my TP and SL and leave it as I do change it from time to time according to market movement.
These are my Gold Trade. Here I won't explain too much just showing my trade and trade plan until end of the year.
The second long position is a buy limit.
1st Trade : 1879 Long
TP : 1898
SL : 1870
Buy Limit : 1875
TP : 1885
SL : 1868
I do have a consideration to put a Sell stop around 1864/1865 though for now I haven't put it yet.
In my previous post I said that GOLD will continue to follow the falling wedge pattern which is a bullish pattern.
And today there is a strong indication that it will break the pattern.
Gold Recently bounce from its small resistance in 1873 and I believe it is a good time for quick short.
Major Trend movement for Gold still follows my previous ideas which continue inside its falling wedge pattern.
There is a chance for today's candle to close around 1950 area and complete a double bottom pattern for gold.
Usually when double bottom pattern showed on the chart. There is big chance for a change in the major trend.
Please be cautious because the market are still on a very high volatility due to the US election.
After my previous post. Gold has successfully make a H&S pattern and then make a bearish movement.
The target for H&S bearish pattern has been reached and i thought with the current situation in the US it will continue its bearish to test the strong support channel in 1848.
But it's instead bounce back and even almost reach the upside part of parallel channel.
In...
Previously i posted an idea about reversal from 4h trendline. It turns out that gold still continue to fall down until it touch 1900 which is a .382 fibonacci line.
From this movement i think there is two possibility which is continue the bearish movement hence align with falling wedge pattern (black line) until .500 or .618 fibonacci line and then make a...
Gold most likely to continue downward channel and meet a strong support from trendline and fibonacci.
It possible to make a reversal at those point and trying to break the resistance line. There is a strong possibility to make a breakout.
