Gold / XAUUSD has started the new bullish leg of the 8 month Channel Up, as it is about to complete three straight green weeks. This hasn't been done since March 13th. The 1day RSI just crossed over the MA trendline, a strong bullish signal as well. Both previous Bullish Legs of the Channel Up rose by at least +13.50%, so use that as the standard technical...
Gold has been rearing up once more but should soon return below the support at $1936 to continue the overarching downwards movement until the low of wave (4) in yellow is found, which we expect to happen below the turquoise zone between $1840 and $1713. However, there is a 30% chance that the precious metal could use the turquoise zone to finish wave alt.2 in...
Incredible to think with the Dollar bouncing Bullish that the price of Gold will rise but that is what the PA is showing and I do not argue with that
Gold crossed over the 1D MA50 today for the first time in almost 2 months (since May 17th). As the 1D timeframe turned bullish again (RSI = 58.454, MACD = -7.380, ADX = 44.489) this is the first major bullish signal of a projected new long term rally. However we will wait until the first 1D candle close over the 1D MA50 and make a confirmed buy entry. Our first...
Gold / XAUUSD continues to trade inside a Channel Down, consolidating near Resistance A (1937.50) after the recent Lower Low. Every candle close under this Resistance is a sell call. Short and target Support at 1895. Any 1day candle close over the Resistance is a trend change call. Long and target Resistance B and the 1day MA50 at 1955. The RSI's Rectangle...
In our previous article on gold, we noted that we were still not turning bullish in the short-term as technicals on the daily and weekly time frame pointed to more downside. However, prior to that, we also noted that one development stood out to us, and it was decreasing volume accompanying the falling price. We stated this was a positive development for gold,...
Gold broke on Friday over the LH trendline and reached the 4H MA50 for the first time in 10 days. The rejection is now retesting the LH in the form of Support, as it happened on the May 30th bullish breakout. That was the leg to the top of the Channel Down. With the 4H timeframe being neutral (RSI = 46.429, MACD = -2.220, ADX = 38.259) and the RSI on the same...
Hello traders! ‼️ This is my perspective on XAUUSD. Technical analysis: Here we are in a bearish market structure from 1H timeframe perspective, so I am looking for shorts from premium zone. I expect bearish price action from here as we can see that price filled perfectly the imbalance and rejected from bearish order block. Fundamental analysis: Upcoming week...
Gold / XAUUSD keeps its short term Channel Down intact and is now testing the 4hour MA50 for the first time in 10 days. Buy if broken and target the top of the Channel Down at 1930. Extend buying only above Resistance A (1937.50) and target Resistance B (1957). Until that happens, take a low risk / high reward sell targeting Support A at 1895. Keep in mind...
Gold is on a technical rebound after it hit the bottom of the 1 month Channel Down. It remains under both the MA50 and MA200 (4h) indicating significant short term upside potential. Trading Plan: 1. Buy on the current market price. Targets: 1. 1950 (under the Falling Resistance on a potential contact course with the MA200 (4h). Tips: 1. The RSI (4h) got...
Gold hit the bottom of the Channel Up that started back in November turning the 1D technicals bearish (RSI = 38.023, MACD = -15.070, ADX = 40.852). The 1D RSI in particular is printing a sequence very much like the Channel's previous bottom on February 27th. On both patterns Gold traded under the 1D MA50 for long, this time has been under it since May 17th. We...
Gold crossed under both the 4hour MA50 and the RSI's MA, which has been a strong signal since the start of June. During that time the price has been trading inside a Channel Down. Sell on this confirmed signal and target 1920 which will make a new Lower Low. This pattern gets invalidated only if the price crosses over Resistance A. In that case target first...
Gold is forming a Channel Down with the price hitting today its top. The price has been neutral on the long term under the MA50 (1d) since May 17th (1 month). Until that breaks, sell every high on the short term. Trading Plan: 1. Buy if the price crosses and closes over the Channel Down. 2. Sell for as long as it remains under it. Targets: 1. 1980 (MA50 1d) 2....
Gold turned neutral again on its 1D technicals (RSI = 48.178, MACD = -10.040, ADX = 34.352) after the strong rebound at 1,924.70. This pushed the price back over the 4H MA50, even closed a candle over it but today's LL is a new bottom and technically calls for the emergence of a Channel Down pattern. This pattern's RSI has a clear Buy and Sell Zone. As long as...
Gold / XAUUSD has almost completed 1 month trapped by 1day candle closings inside the 1day MA50 and 1day MA100. The 1day MA100 in particular has served as the long term Support inside the wider Channel Up pattern since November 10th 2022. Apart from scalping the MA50-100 range, take advantage of the breakouts on the long term. Buy after a closing over the 1day...
Gold has just formed a Bullish Cross between the MA50 and MA100 on the (4h) time frame. Besides this buy signal, the price is holding the MA50 (4h) as Support. The whole price action is supported by the Rising Support of this medium term Triangle pattern. Trading Plan: 1. Buy as long as the price is closing over the MA50 (4h). 2. If it breaks, buy near the Rising...
Gold hit yesterday the HL trendline, which is the bottom of a Triangle pattern that has the R1 (1,985.50) as the Top, and is rebounding. This rebound was also made on the 1D MA100, the third time this happens in the past 10 days. The rise has already reached the 4H MA50 and turned both the 1D but more importantly the 4H timeframe (RSI = 49.565, MACD = -1.650, ADX...
Gold / XAUUSD hit the 1day MA100 and rebounded again over the 4hour MA50. That is the same bottom confirmation signal that the market gave on March 9th. The 4hour MACD is about to make the 3rd straight Buy Cross on a Rising Support again same as in March. Buy and target 1985.50 (Resistance A) short term, 2020 (Resistance B) medium term and 2080 long...