Hey traders, Gold has formed a lot of bullish actions over the past couple hours. We have gotten pushes to the downside which have failed resulting in pinbars. If we can get some bullish momentum going my bias is definitely long. We have the trend line I have drawn which acts as support as well! Simple price action and analysis.
Hey traders, Markets are now closed but this is the best time to review and analyze what happened over the past week. Price for Gold touched the green trend line I drew which may be part of a bullish flag pattern for gold. Price immediately bounced up, with 3 bullish candles before experiencing a minor retrace on Friday. The close on Friday was weak and...
Hey traders, Gold has reached an inflection point, as seen by the blue trend line drawn. Gold previously was stuck in the green consolidation triangle before breaking hard to the down side. I am waiting for a confirmation signal in the form of a bullish candlestick, or strong bullish close to go long. Price is still in the ascending triangle...
Hello Traders, A breakout to the upside was seen in XAUUSD, and thus a trade was taken with as stop loss of $27 at around $1478 just around the previous consolidation low and a take profit of $50 at around $1550 just around the previous swing high. The price had been consolidating $1495 and $1481 and therefore, this breakout can be identified as a start of an...