The exchange rate is at the beginning of an accelerating range. A strong rise and acceleration of movement is expected in this range. This is further indicated by signs. Increasing ATR axis (white dashed line) and exponential price increase indicated by red dotted line. The next target price is 1583 usd.
Looking at gold daily chart, it's obvious the price is weakening but it is not yet time to start selling the precious metal. To short gold, price needs to violate swing low at 1480.34 (dotted arrows) a pullback will be a good time to short the market.
As it stands, if the price is rejected between 1480.34 and 1493.18 (solid arrows), gold is still a buy. A break...
Hi Traders, apologies for similar analysis to my last Gold post, but you cannot undo a posting of analysis you have posted, and I uploaded the wrong image on Gold sells. (Although the principal is the same, this is a little clearer). Here is my view on Gold sells. This should be temporary, before we see the bulls takeover. 1700 long is one of my targets for Gold :)
Hi Traders, here is my analysis for a potential on a Gold sell before we get the bull run. My overall bull target still remains at 1700, but I feel we will get a push down first before the long.Do you agree?
Pretty explainable from the chart above.... NFP is on today which also has been a Dud for the last couple of months, however you never know and to plan to enter before is always advisable. All be it there many ways to trading!
We can see retest possibility of it going higher and on the flips side reaching 1490 area!
Trend Continuation Trade
- Multiple Fib Clustering
- Complex Trend Analysis
Awaiting price to pullback to 1536.200 before entering a short trade and aiming for $1512.00
Stop Loss 52 pips above entry.
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