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.
The yellow metal continues to trade in a five-day ascending channel against the US Dollar.
As apparent on the chart, the pair hindered near a medium-term channel at 1,343.00 during the first part of Friday. However, the prevalence of strong upside momentum mid-session allowed for a breakout of this pattern and further advance up to the 1,350.00 mark which ...
Gold exceeded the key high set last September, but has since backed away. Thursday printed a rejection of the high, and Friday confirmed that rejection. Since Gold has climbed in January, we have been losing momentum. This, and the bearish divergence in the Stoch/RSI makes it difficult to initiate a long trade here.
Taking a look at Silver - not shown - we can ...
We are now in the take-profit zone I drew in my last Gold post.
This is BIG resistance and a break up from this level would be huge. It would break a multi-year consolidation.
So what do we do now?
A few days of consolidation would be perfect here. Then we can trade the breakout. If you would like to buy here, bare in mind that this is resistance, and you will ...
FX_IDC:XAUUSD Ready to get correction from top between 1340 - 1355
Should be good point to open short positions at this levels and get TP at
1320
1305
1390
Trik to use that movement at platform who doesn't use partial exit is
Open 4-5 positions same Volume, Same price with different Take profit points
https://uk.tradingview.com/x/5NdpaQ2K/
Gold longs in play. Daily and H4 trend is bullish so we are buying on a pull back. This trade correlates well with my dollar analysis which has a bearish outlook technically. check my other posts to see the setups.
Triple top formed on the daily time frame aswell as indecision candle (inverted hammer) formed once 1300 was touched, looking for a push down before a confirmation of more selling to proceed
Multiple confluences stated on chart. Seems pretty viable. Looking to short after NFP tonight. Major reversal imminent. You heard it here first @ Louissuguna news. Thanks for reading and have a greaaaaaat breakfast!
GOLD has been a great market this year with its performance for one to to really take advantage and profit from it, a Double top has been clearly formed previously (looks like a M) and there is only one thing that happens with Double tops, for it to proceed lower, looking for GOLD to play back into 1240s Before heading back down and eliminating its low and ...
Gold continued its negative momentum to break 1208 and closed below it, which opens up doors too the level of 1180 in the upcoming sessions , supported by 50EMA.
GOLD continues its bullish run as the dollar weakens, waiting for price to breach previous high to achieve a target of GOLD 1340 before pulling back and potential retests the highs of GOLD 1380, EMA50 continues to support its bullish move.
hit long term trend line and nicley above clould with a nice crossover on MACD, RSI not too high, ticking all the right boxes for me, going to add/ close positions at the fib extentions shows as i see fit and will try and keep the idea updated
