The FOMC will release its latest rate decision at 1800 GMT today, with unanimous expectations for a hike by 25bps to 0.75-1.00%, while the Fed are not likely to signal a steeper path in the immediate term. Yellen’s press conference will be in focus with participants watching for any comments in relation to the balance sheet. A hawkish view from Yellen could be...
We have a swing Failure at a key weekly level. USD/JPY has been stuck in this range and we had a fake out at the end of last week so I see prices going lower. I am looking for shorts down to 111.70 for 1:4.8 risk/reward. FOMC is tomorrow so we will have to monitor this trade through that
Gold has really been falling of a cliff this past week or so, with very little in the way of a pullback (for short entry) since the break of the bullish trend line around the $1230's area.
I know I have posted a few potential set ups where Gold could have pulled back for entry, but unfortunately they did not play out - which is not a problem, as we would not have...
Still waiting on Bullish Break of Channel on $XAUUSD been going on for a while now see tagged idea, believe a big break out could be coming going to take profits and/or add at support and resistance levels.
Gold prices have extended the December 2016 rally. However, buyers are having difficulty sustaining levels above the USD1248.50, (50%) Fibonacci retracement of the July-December fall.
A corrective pullback is now looked for, as the Tension Indicator continues to weaken, with focus turning to USD1200. A close beneath here will turn investors cautious, but critical...
Firstly - please excuse the quite busy/crowded chart here - usually my charts are a lot cleaner.
Anyway, as you can see from my last idea on Gold, we are quite possibly nearing the end of it's recent bullish run.
Momentum seems to be slowing down, we have reacted quite nicely from the 61% Fibonacci retracement and broken a reasonably long term...
Multiple confluences on this pair which highly indicate a potential short opportunity! CONFLUENCES= Weekly downwards channel, weekly 50% fib, Monthly resistance 12500.00 key level, daily trend-line breakout, SMA and EMA crossover. Stops placed above previous Lower High and target 1 at the next monthly support zone 1140.00
Gold prices have failed to extend the December 2016 rally. Prices are settling back from the USD1263.80 monthly high of 27 February, as bullish short-term studies unwind.
Focus is turning to the USD1216.80 low of 15 February, with the USD1210, (38.2%) Fibonacci retracement just beneath here. A break to congestion around USD1200 is looked for, as overbought...
As you can see from this Daily chart, Gold has been in a short/medium term bull trend recently.
This bulltrend could potentially be running out of steam here - as you can see from the Fibonacci I have applied to the bear trend before it, Gold has now reached its 61% retracement area.
It pulled back from the 61% Fibonacci area (around $1255~) quite rapidly and it...
Higher time frame (W1) shows that Gold is still on a down trend where It has formed higher high followed by higher low 3 times and it is about to retest the major down trend line for the fourth time.
Looking at the short term time frame (D1), Price is making higher high however RSI has hit a resistance level at 70 for 3 times. This suggests that price may still...
Simple structure and trend continuation setup.
We have previously strong resistance to, hopefully, act as our support in this trend continuation trade.
Together with the support, we also have a trendline which should add to the case.
..and we also see the double bottom at the previous resistance level.
This pair has been respecting structure and trend thus...
Gold has broken its $1250 area for the first time in a while.
We are in a clear uptrend at the moment.
It has retraced back down to a previous key level (indicated by the blue dotted line) where price has reacted nicely.
This area lines up nicely with the 61% Fibonacci retracement level also.
This is also a touch of the inner trendline as you can see on the chart,...
*View previous GOLD post*
Price has moved as I predicted to the inner trendline. Now I will be looking to go long until a higher high, however I do believe price could break through to the outer trendline. Therefore, I will patiently wait to see how the candlesticks on the 1hr and 2hr timeframe plays out.
Gold is currently channeling nicely around the 1250 mark. Potential for a new long position after the recent retracement to 1250.
Await the 1hr candle to close above 1250 (key psychological level) and above the longer term trend line. Price should see 1260 again.