We posted a short on this pairing a couple of days ago and we made 60 pips on it... so well done if you got on ;p
Now we can see that price broke a strong TL and strong resistance, we can see that price has broke this resistance and has come down and now tested it as support.
With the break of the trendline and resistance we can only see bullish movement from...
1304.041 is acting as a very strong level, this time it is been used as resistance, but you can see it has previously been used as support.
We also have a lovely trendline that has formed and this happens to be very close to our resistance level... this makes it a double strength setup... if this trade doesn't go bearish from here I will eat my hat ;p
No better...
After Fridays bullish run pushed price through the roof because of worse than expected NFP results and the weakening stock market and US economy we can see price smashing rite through our next possible resistance of 1304.301 and making a run up to our green zone.
Its because of the panic in the US economy,US30 and stock market that buyers rushed to gold as a safe...
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...
This is a simple analysis that I've put together for Gold, price is rejecting at key level where price rejected a few days ago and we are are also currently at trend line resistance. The MACD Indicator is also very close together and looks as if a crossover is going to take place but this we cannot predict. I'm expecting gold to drop down to around the 1290.00...
Good morning traders
Last week we went long gold at 1295 targeting the formation of a head and shoulder pattern around 1301. Four days later and we see that right hand shoulder pattern forming and therefore look to short gold at market level.
If you look at our chart work on the uk trading view website you can see four failed attempts on 4 hourly charts to...
This is our current idea for Gold, we can see price moving further down into our red support zone and then making a bullish run up to out green resistance zone, this is where we will place TP.
This is a lovely risk to reward trade, but please use correct risk management if you take this trade.
If you are using correct risk management and 1 of your trades does...
Formed a large shooting star on the weekly last week, then followed by this weekly closure of an exceedingly large bearish engulfing. Monthly February closure also formed a shooting star, touching the monthly descending trend line, forming our next lower high, but however, we are forming this symmetrical triangle, so we are making higher lows on the monthly. First...
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...
Simple trade- support line from November that has been tested on multiple occasions coming back into play at these levels. Additionally pair looking oversold on short term basis post better than expected US GDP data. Looking for a retest of 1350 area into mid March
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...
I'm sure you can work out what we think price will do from or chart because we keep them so simple!
Yes we are expecting price to follow our trend line up to our zone ( blue box ) This is a long term outlook so don't get mardy if it doesn't hit our target in 1 hour.
Do it or regret it ;p
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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