Gold looking to make the bullish move from here on, I earlier thought that the Wave C will progress as an Ending Diagonal however it has already moved into the target zone white box. Also since the Wave 3 of C is smaller then Wave 1, hence the Wave 5 can not go beyond 1241.50 else this count will be invalidated. I expect a turn from here on leading to new yearly highs.
GOLD LONG SELL . Its has been on a down trend for several weeks and despite the retracement. we expect a weekly downtrend since it resisted on the weekly severally as illustrated on chart. entry price in between PuRPLE line TP1 ,TP2 given as labelled on chart.
Gold shows a nice bullish wedge on the 1 hour time frame and it's currently already trading out of it. Gold Buy around 1255 TP 1266 > 1278 Stop 1245
Since GOLD has cleared out most of the Bears along multiple time scales up to 4 hours (IntraDay). Its Left for DAILY RSI to hold support at 50. Which it has done for the whole week. The longer its held, the more legitimate it is. (Check yesterdays Buyers launching at this level) This is inspite of all the pressure from DOLLAR buyers who want the greenback to be...
Our preference: position bought above 1272,00 with targets at 1282,50 & 1286,00 in extension. Alternative scenario: in break of 1272,00, a continuation of the decrease will be envisageable with 1266,00 & 1261,00 in line of sight. Comment: The RSI is supported by a straight up trend.
Buy Gold cmp 1269 next pending 1258 Sl 1248 TP 1294 Below 1000usd Equity use 0.02 cmp and 0.01 set as pending both sl 1248 and both tp 1294
As per the count presented on the chart it seems highly likely that Gold is getting ready to head higher. It seems that the current corrective leg down can take support in the 1255-1245 region and then the bullish Wave 3 can start, however if the market trades below 1245 and takes 1255-1245 as resistance then it is possible then we might be in some kind of...
If you are looking to long gold, an opportunity may soon develop
Trend Short long tp test sp 1 sp2 tp: 1-10 usd goodluck
long gold sell follow me i update here continuously
Gold has been gaining a lot of strength in May primarily due to the dollar weakening and volatility in the US/UK politics. Look out for a break at 1300$. However, a potential pullback to the support trend line at the 1150-1200$ levels is possibly. If a pullback takes place back to the 1200$ levels, Look out for the 5 years resistance breakout at 1270$.
Gold on the daily time frame shows on very interesting setup that can goes either way. It will all depend on how gold will close today. Buy: Close above upper range, 1272 or higher. Take Profit: 1292 Stop Loss: 1264 Sell: Close below lower range, around 1269 or lower. Take Profit: 1235 Stop loss: 1278, if 1260 breaks move stop loss to entry price, from there...
As in chart. Supported by fundamental bearish outlook on USDJPY.