ForgeNTrade

ForgeNTrade

After Gold made its move down from its all time high the price action has been a great trade between 2685 and 2620 level where the first area of buying support was expected. Gold retraced back up beautifully to 2660 which is the key resistance level for a retest. Will it break through to go higher or break to the downside once again? If it breaks to the downside...

ForgeNTrade

The bearish trend has respected the trend line and maintained downward pressure on gold price. The price tends to go lower in the cycle of the afternoon Perth AUS time each day of trade so it’s a patience game to allow it to play out.

ForgeNTrade Updated 

To revisit the idea. The 4hr candles are burning red as the price falls to 2,663 and haven't seen any real movement until now from the 2670 mark. As estimated the move is happening just after midday PERTH AUS TIME. Follow along and see how the retracement tracks within the channel. It may snap back quickly or in stages. All you need to know is to Short this...

ForgeNTrade

Appears that Gold has run it's course on this leg and will need a healthy cool off into a retrace. I'm pitching 2500 support level as it showed the greatest consolidation. Once settles down for another buying opportunity which will be good for gold and establish further support for pushing higher highs.

ForgeNTrade

This is just a mock up based on the trends and price action levels that indicated this will likely be the crossover point of a sharp snap back in price. By 10am AES time this is where the lines are all crossing into each other for a junction a significant downward move and change of trend.

ForgeNTrade

Tracking gold as it moves sideways and has had the price rejected to the top end twice. Will be interesting if it starts a decent for a snap back

ForgeNTrade

Tracking gold as it moves sideways and has had the price rejected to the top end twice. Will be interesting if it starts a decent for a snap back

ForgeNTrade Updated 

Gold is looking to be over bought and this has presented an opportunity to take a reasonable short position down to the last strong support level of 2635. Following the 2635 there is the next support level marked up around 2600. Could be some sideways action and could grind past 2635 with some resistance. This will establish the head a shoulders pattern.

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Gold has ticked the boxes and broken through to continue on the upward trend and establish price records and support. Where will it stop? If it's like the previous move up we could see something in the order of 2640 before it begins to retrace. I'll be looking to see whether it will respect the trend line on the retracement and continue to move up or sell...

ForgeNTrade

Next Setup for a Long Trade Set stop loss to lowest price point for the day and set profit accordingly to resistance level desired.

ForgeNTrade

Following a head and shoulders pattern gold retraced and on the rebound shot up to 2520's over night for a nice long trade. This idea follows the current upward bullish trend of the higher lows and higher highs and entering some trades within this pattern. Setup for the next retracement to a higher low and entering a long trade on the bounce and confirmation...

ForgeNTrade

Current consolidation and support for gold price action is looking good for another step up and move to a new all time high. Arch of projection and from a strong support level this is my price projection from what i've been tracking and building on from my previous idea that this is showing strong support on the upward trend. I've been trading gold on the 30m...

ForgeNTrade

Idea is panning out and entered trade on bounce. Price has hit first resistance level and moving side ways upward as expected. Will watch as it breaks first level if it will continue a bit more and that will be a sweet trade before consolidation

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Continuing on from last idea. The direction pretty much played out exactly as anticipated and though it didn't hit the 2545 level it just shot up under this at around 2530 before correcting however the sequence did play out as drawn. Gold price action shows another double bottom of support where it could provide an opportunity to enter a long trade and move...

ForgeNTrade

If you zoom out to the weekly chart you will see a long solid green candle stick prior to this weeks. And is a solid bullish candle stick above the 10 EMA signaling a bullish rally as this weeks candle stick stacks nicely above and indicates another push up before a fake out correction. This is a possible setup after the first 2 consolidation patterns and 2...

ForgeNTrade

Moving up today after a head and shoulders reversal. Strong support and bull flag indicates it has more of a push before a correction.