We have been ranging since London session yesterday with very little volume. We have three options for gold volume permitting.
If we break above the range we have been stuck in, we can look for a potential wickfill which would be 30 pips, however that is a risky move. Safer buys would be if we break resistance at 1933. We have clean traffic to the left and we can...
We are trading below resistance at 1898, a break of this level could see us long back up to 1905. I have highlighted a potential barrier along the way in the form of a resistance, however if there is enough volume, we can break that level. For buys to be valid, we need to form support above resistance. I am not looking for sells as I do not like the ranges to the...
Shared my anayliss on gold last week, check out my older post i will be attached to the bottom of this page, AshFX predicted the drop was coming!
Gold will keep dropping testing the 1890.278 level before making its next move,
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So The Take Profit Was HIT!
Right from here onwards, on the hourly support in the past price has bounced back off to atleast 1700. So lets wait for the new hourly candle and see where this one takes us.
If it resists then GO LONG.
If it breaks then GO SHORT.
It's a simple equation.
Gold to dip & test support of 1563.
From there it could either bounce and continue it's climb or it could gain momentum and continue to fall to levels such as 1556 and 1547.
Leave them down below and I'll get back to you!
I love discussing strategy! :D TVC:GOLD
GOLD has been on a rise lately however I don't expect this to be a big bullish run for GOLD, in other words I don't think this run will take us to a peak higher than the peak we have made (1350+ area) this year. Now is a good time to buy as we have risen and retraced already so the next wave up can be anytime soon. I expect this wave to take us to 1250-1260 USD...