OVERVIEW : Gold prices ended the session solidly higher and scored another three-month high Wednesday. We feel that the market will more than likely trying to reach towards the $1150 level. Technically market is looking strong on chart and prices is trading above the resistance trend line in its daily chart. In 4 hourly chart, prices is sustaining above its...
Gold make a Selling Channel. and in my my View USD maybe strong because USD GDP was Growth. Best of Luck
PA pattern: Rising wedge - Upper channel border resistance - RSI(14) drawn nice H&S with divergence between 1127 - 1130 - MACD showing same divergence For me only sell for now
Hello, "El Dorado" Traders! Best regards, Powerful Traders!
From a structural point of view, the gold correction has been perfect to go, 1090/1095 here is the future of gold rose to 1135 excellent point of buying!
# Overall bearish # Strong sell : Recommended short position only # Potential level to re-enter short *highlighted area*
Recent NFP data just pushed Gold to the upward. Recently just bounced off the weekly pivot. LONG if breakout to the upside targetting the potential 3rd test of Daily TL. SHORT if price close below 1134 with immediate target shown on the chart. Stay neutral for now as Gold is constructing it's highs & lows, enter when direction is clear. Have a profitable week traders!
A few confluence for long entry. Details on the chart.
I believe Gold is approaching 618 Fib Retracement which is an important support level with high potential of reversing around this level. First profit target is in the chart. Have a profitable week traders!
Staying out for Fed Interest Rate Decision today. Have a good week traders!
if price break,close & hold and close above 1110 with potential target around 1118 area. Potential short-term reversal at 1112.27. This is just an outlook. Have a profitable week traders!
Gold still bearish. Broke recent trendline & close. Quick target at 1099.49
My ideas on gold for a Long scenario - remember I don't normally trade gold. This is for some of my students who occasionally dabble in the commodities scene. Also the chart highlighted on screen is only showing 30% of my analysis. My students will know what else I use as confluence
I have few running positions entered last night at 1124,1124,1126. Targeting until 328 Fib
Bullish momentum is still in play here. Long until highlighted area. Look for candlestick formation for reversal at the selling area. That's only my take on Gold for upcoming weeks. Have a profitable week traders :)