Looks like a Short Japanese pin-bar has formed on Wed the 26th of May and the RSI may look overbought.
- Gold upward move continues then it could rise toward 1989,
- Go sideways between 1875-1922 support & resistance.
- Further Down Correction between 1872-1875 support & resistance.
There is a Trading Signal to Sell in Gold XAUUSD
Traders can open their Sell Trades NOW
⬇️Sell now or Sell on 1905.63
⭕️SL @ 1914.91
🔵TP1 @ 1886.82
🔵TP2 @ 1874.06
🔵TP3 @ 1846.55
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looking like a reversal may have start on gold for the short term
we had a head and shoulders best seen on the 4h chart last week
we've just retraced between the 0.61-0.79 fib levels meaning we could continue the move down from here
a break of the trend line currently sat between the 1860-1850 levels we be a sign that we could see low 1800's/high 1700's
What's better than a nice trade with major confirmations? 1:Here we are on the H1 chart on the retest of the Daily trend line..
2:..We are on the MONTHLY pivot point...
3:..NFP is worse than expected...
4... On the D1 WE have broken 200 SMA to upside...
These are all reasons why Bulls have an edge...
A good entry will be on the breakout of the line dksplayed on...
Price consolodated in a 1D key level then pushed to the upside to a 4H key level. It broke through the 4H key level, retested and now looks like it may push to the next key level around 1913. Eyes peeled in the upcoming week.
Currently price is at H4 resistant that act as the neck line of the previous H&S.There is higher chances the pullback would play out and retest the major trendline (uptrend).Bull has shown weaking in the lower time frame.There is lower chances for the price to retest the downtrend trendline given that NFP is negative.It could forming inverted H&S as drawn in the...
Despite the slight rally of the price from the channel, at the moment the price has again come to the upper border of the channel. And now I expect a slight downward movement, followed by growth.
Long-term forecast, you can see below.
This is a daily timeframe analysis and is my long-term prediction for GOLD. Currently sitting at a key zone to determine price movement direction after breaking out of my trend zone on the daily time frame instead of hitting the top acting as resistance and pulling back down. After the breakout, we've had a little consolidation period over the last day or two...
Gold sitting on a resistance level at the moment but having broken 1875, creating a triangle pattern.
Market is oversold and a correction is due in my opinion by next week or the following.
With the current price action I would think that it either touches 1900 and breaks down to 1800 for a 50 to 618FiB extension or breaks down now to touch 1850 then back up to...
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It hit the 1M OTE - expect reaction
That reaction was double bottom on the 1D
Also broke a bull flag and another descending consolidation trendline
Measure move target hit nicely
And the 1D supply gave bearish reaction as expected
Now trying to find where to rebuy
Few ideas - claim of the 1M bowl kneckline as the 1M chart is very much a bowl and handle (handle is...