Taking momentum into account and change of obvious market structure it only makes sense for my analysis to be bearish.
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.
PLAN:
1.Momentum is down so im looking for a break of support zone.
2.Preferably a close below the support on the daily but if i get 4hr...
Orange arrow show where this key level has been used as support and purple arrow shows resistance, we can see price is nearly at this level so we will be waiting for a break or bounce before jumping in this trade again as we had a loss on it yesterday... YES WE HAD A LOSS... WE ARE HUMAN ;p
But our view is that it will bounce and make some movement to the upside...
I'm going to stop wiping your ar@e on this chart analysis because I can :p
I will give you this chart and if you cant tell what way price is going to go then take yourself back to the stone age and go out hunting for your prey with a big wooden bat or stand around scratching your balls because you cant figure out how I am so good when I don't use chart...
We have a strong trend ( TL ) line formed which has been respected a number of times, I'm sure you can point out where! Now our overall outlook on Gold is long ( bearish ) but we could se a slight pullback to our trend line before price takes off again.
We are bullish long term on gold because we can see the mess the US economy is whilst other people continue to...
We can see price hit a very strong resistance 1341.142 after price had been flying high for days, so we are expecting a slight retest into our support/resistance zone ( red box ) before price takes flight again and smashes through the strong resistance ( green line ) and hits our target area ( blue box ) this is the next key resistance area .
We can only see...
Gold prices have been undeniably bullish on the daily timeframe . Prices have been respecting a healthy uptrend since early December when a solid breakout above $1,240 was achieved. With the precious metal repeatedly creating higher highs and higher lows, bulls are clearly in the building. Gold has the potential to rally towards $1,333 once a solid daily close...
Price is currently sat at a very strong resistance level, but we can see it breaking this level and pushing higher, our reasoning for this is the U.S economy is in a bit of a state £22 TRILLION in debt and unemployment on the rise... a recession is just around the corner.
Normally when the Economy is in a mess people run out and buy gold as it is somewhat of a...
Here you can see my trading channel of XAUUSD. We have NOW a BIG Resistence and we will go SHORT. If XAUUSD will go through our STOP LOSS we have another position to go SHORT. We do not have a UPTREND, here we have a DOWNTREND with lower lows and lower highs. So take a SHORT and take the Money :D
Your Mikl_Owl
You can see from our chart an old resistance turned new support zone ( green box ) look how strong of a zone it is as well, we are expecting price to enter our zone and then go long, possibly reaching our resistance level ( green line )
So Gold's upward thrust appears to have been stalled recently due to the resurgent US Dollar. Every time we think Dollar strength is beginning to wane and #Gold can once again resume it's flight to the stars, something fundamental pops back up and Dollar ascendency once again becomes the norm. A war of attrition and which ultimately will win out?
Well as always...
1310.79 is an area of strong support turned new resistance ( old support orange arrows )
We also have a strong trendline ( TL ) which has been touched more times than... well something that has been touched a lot ( I wont put anything rude as I will get banned, so just use your imagination.... if you have 1 ) ;p
So we are looking for price to close below our...
XAUUSD present us with a short opportunity!
Trend line broken - check
support level broken - check
Now we are just waiting for a 1h retest, in order to take a short position!
All of the Best
TRADING PROTECTION!
1345.00 is a possible reversal zone, this area has been used as a very strong resistance zone before and you can see price has respected this area on numerous occasions before ( I'm sure you don't need the purple arrows to pint out where if you have been following us for a while )
Our 1st trendline was previously used as strong support but we can see it been...
1326.741 is an area of interest and could act as possible resistance, but if we break this level then we will see price climb into our zone ( blue box ) where we could see a reversal.
So at the moment we are long on this trade with a tight SL and if price breaks our 1326.741 resistance we will be adding some long positions all the way up to our zone.
Price...
1295.74 area is a strong old resistance and could be tested as new support, We will manually enter this trade as a SELL but only down to or new support level, and we have set BUYn order for the retest of this level.
We should see price push higher to the upside after this retest, our reasoning behind this trade is because the buyers ( bulls ) were strong on...
Higher risk trade- looking for support line from October to hold after a series of bounces from 21st of Jan as we continue to see negative stories around US govt shutdown (Washington Post last night with talk of closure until March/April) and further negative global growth data- European PMI data this morning again coming in below expectations. From that 21st of...
Marked on the chart you can see some key levels 1356.478 ( resistance ) 1297.420 ( resistance ) and 1182.906 ( support )
You can see that price has touched and bounced off these levels 10+ times each, why do you think this is? this is because the big banks and the big players in the game set orders at these levels ( big amounts of money ) this will make the...
