This would be an objective area for aggressive momentum traders to go long
There has been 2 previous swings in Gold from the 50 weekly ma (Orange line), This looks like the 3 Swing IMO According to the previous data this swing should be shorter in time than the previous 2 and may last between 60 to 85 days Target area should be around +35% to +50% = $2400/$2700. The trend is up and the fundaments haven't change at all. money printing...
Gold is approaching the descending triangle support. Potential price actions indicated.
Here, I have used Gann Fan & Fibonacci Retracement to identify the next move of Gold Spot. Wherein, it is taking reversal from the 0.5 retracement value (highlighted by green square ). And now it's running under 3/1 & 4/1 Gann Fan value. According to this chart, gold will keep drilling upward up to $1940 . After that, it can fall for 0.382 value of...
gold remains in the hand of the bulls
Double top patter !
The dip has been taken due to high risk reward risking almost 300 to 400 pips while targeting the reversal trend till 1945.
I've been buying Gold... Not on the computer but real physical gold. Gold Spot (XAUUSD) hit a new All-Time High this month surpassing the peak hit back in September 2011... Wow. I had this feeling/voice in my head in "repeat" saying "Buy gold, buy gold, buy gold, buy gold..."... My God relax... Bought. Anyways, I bought some gold, went back, and bought more...
We saw gold bounce from the 51 (50) period MA on this one hour timeframe recently; and I have a feeling it could do the the same thing this upcoming week
This is my long idea for GOLD/USD. If it reached first target then I'll move my SL near the entry level.
The gold spot value has created a kind of channel or flag formation. It may fall to 1679.876 price level because gold spot has been overbought and the U.S Dollar will definitely gain currency strength this week since the U.S Index has its reached support level. So price may move up and down within the channel created or may break out at the upper side if its truly...
At the moment we can see the 0.382 Fib level establishing itself as a formidable resistance level, with a rejection at this area by XAUUSD bringing it down to the 0.236 Fib level, where some consolidation might occur here before continuing its downward journey to the WHITE main support line @ 1695 area. On the whole, we can see clearly from the H4 Time frame the...
From the H1 and H4 Time Frame we can see gold faithfully following an ascending channel as a major trend, with the support line shown in light blue and major resistance lines in yellow (dotted and non-dotted). Short Term BULLISH + Mid Term BEARISH: I expect to see Gold moving up a little more for a slightly extended BUY opportunity, however, will expect a...