Is what you would be saying if you are not part of our team ;p
Now our resistance zone ( red box ) we have marked on the chart is a weekly level that price has not been passed since April 2013 so we have been below this level for 6 years, Now we can see price making a slight pullback into our support zone ( green box ) before shooting back up and finally...
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
I have a full bullish bias on Gold currently no confirmed direction change at this current stage. I am not placing this trade yet but this is an example of a good set up using this method that may be valid in the coming days. Also this is how I plan my days / weeks ahead.
no indicators just look at what you can see on the screen and understand how your opponent...
SL : 1323
TP : 1500
Gold prices broke out hitting fresh 18-months highs and closing near 1,359. Support is seen near the former break out level at 1,346. Resistance is seen near the 1,370-1,375 region and then 1,392, and up to 1,423. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal. The current reading on the fast...
Looking to short down to the $1359 area following the recent gains. Some consolidation may be needed before a bigger gain and confirmation of a bullish cycle on the higher time frames.
The political environment right now is sufficiently volatile to allow for further gains in Gold so it could be that the price will continue to ascend to the $1453 area next.
Gold has been smoking some of Bob Marleys magic plants because its just got F#cking high... it could have shared it with me haha.
Now gold broke key weekly resistance last night due to fundamentals due to FOMC ( i wont bore you with that now, google it if you want some reading that will send you to sleep ) Gold rocketed past levels and up to highs that haven't...
Looking at the Weekly Time Frame there does seem to be a Double Bottom occurring at 51.40, which is why my long term bias will remain Long unless we have a Weekly close below 51.40, Potential upside targets are huge (500+ pips) as the double bottom is on the Weekly.
4HR time frame we are in a range (Short reversals occurring at around 55.00 & Long reversals...
As discussed live on the stream we called this gold move after awaiting a support creation.
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