Open buy posititon for XAUUSD on 1276.5 SL - 1270.5 TP -1290.3 RRR - 1:2.87 For negative correlation for XAUUSD and USDJPY - XAU going higher and USDJPY going lower
XAUUSD is approaching our first support at 1275.34 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1308.70 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic is also approaching support where we might see a...
This is our “Every-Monday” report on GOLD with a full vision over 3 timeframes. 4H CHART EXPLANATION On 4H timeframe, there is a full ABCDE Elliott Count. So, we can expect a bullish movement. - We will be looking for long opportunities above 1285 level, towards the Descending Trendline. Updates coming soon! MULTI TIMEFRAME VISION - Weekly: -Daily:
Golds technical are all over the place with not much making sense at the minute so we have tried to simplify it as much as possible. You can see we have a support and resistance zone marked out on the chart, we can see further bearish movement pushing price into this zone. Price hitting this zone will correlate with price hitting all time highs on US30 which will...
The price is likely to find a strong buying interest in the current zone. Let's analyze the behavior of the metal during the week!
XAUUSD is approaching our first support at 1275.34 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1308.70 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic is also approaching support where we might see a...
XAUUSD is approaching our first support at 1275.34 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1308.70 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic is also approaching support where we might see a...
XAUUSD is approaching our first support at 1275.34 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1308.70 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic is also approaching support where we might see a...
XAUUSD is approaching our first support at 1275.34 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1308.70 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic is also approaching support where we might see a...
Gold's consistently making lower highs, price seems to waver around this new level of resistance.
My current assessment of GOLD - that's how I think it will continue. The chart says it all. This is just to share my current view. It is not a trade recommendation. Always use your own mind to decide for yourself. Take care.
This is the tradingplan for next week a bounce back to the ''resistance'' zone what really is going to happen is amateur traders will short that level and provide liquidity.
If Easter Eve shows gold closing below the daily open, it would be the 6th straight down day - a rarity for gold. Additionally, it's not even tested the inner 2/8th harmonic at 1275. More importantly, there is a new Full Moon phase on the 19th at a swing low for gold and Venus and Jupiter are squared on today's date (17th of April, 2019). Not shown is a prolonged...
Trading suggestion: . There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of downtrend is expected. . Price is below WEMA21, if price rises more, this line can act...
Trading suggestion: . There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of downtrend is expected. . Price is below WEMA21, if price rises more, this line can act...