Gold continues to inch upwards towards major resistance at 1332 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to drive price down to 1294 support first (38.2% Fibonacci retracement, horizontal pullback support) before 1272 support (61.8% Fibonacci retracement, horizontal...
XAU/USD forms junior channel down
During the early hours of new trading session the yellow metal continued to lose value against the buck in a junior descending channel. Basically, the consolidation period might last until the exchange rate will hit the support line of a four-week long ascending channel. A deep plunge below that barrier seems unlikely due to...
Hi traders,
Gold is looking to make a push upwards. Last few weeks, we had all kind of signal that made us thoughts bulls and bears were in control. Now that a nice bounce and push up happened, we will slowly go back up and the bulls will run with it for the rest of 2017.
Here's what I'm thinking:
XAUUSD LONG
Entry : 1260
SL : 1252
TP : 1293
Trade safe!
...
Goldmoney provides an excellent solution to its customers. The stock took off ever since introducing Bitcoin into it as an asset. It is safe to say that Goldmoney offers exceptional products. Although a bearish flag pattern has emerged since the beginning of December 2017, I see the company doing well into next year. As well as its stock price. A small correction...
XAU/USD ready to test strength of dominant pattern
In essence, the buck is actively appreciating against the gold the third day in a row. A short-term bullish movement towards the 38.2% Fibonacci retracement level at 1,268.00 was the only exception and was attributed to beginning of drills on the Korean peninsula. But, in general, the pair is driven by optimism...
Hi traders,
This is basically a follow up on every other chart covering this main analysis.
Support again tested and back in order block
This is a small risk for a great reward.
Here's what I'm thinking :
XAUUSD LONG:
ENTRY : 1263.66
SL : 1257.13
TP : 1302.94
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
1277 break that open gate to last small target 1265 has been done.
Besides that one, I didn't have any other target and I made my first buy!
Since I don't know will 1254 will be reached and what piece it will develop I split my margin impact into 3 positions!
Sorry for maybe too long video ( whole 10 mins ) I was rambling because my mind is full of some other...
I mentioned 1277 open gate to 1265.
Although I closed my sells this is willing me to try an entry again with a stop above 1278.
1278.5 would be fair enough.
5% margin impact.
Good Luck.
Although we broke the " line " by itself it could mean nothing. So far we are having a test-back, but still, at any point above 1276. it can rise again.
So be careful.
We have last day of the month of November so a lot of interesting irrational stuff can happen in the markets.
Good Luck.
Fundamental:
Gold is inversely correlated to USD.
Weakness in USD data negatively impacting USD
Dovish Statement from Fed Yellen
Technical:
Only buy if Gold stays in the upwards channel
Look for BULLISH PIN BAR price action to trigger entry
" You know... "
I am monitoring this on an intraday basis for a possible blocker levels. Be careful at the lower level, and if we get a breakout the trade can continue very well.
If the break downwards happens, I will look for a place to add.
Good Luck!
TV video ideas feature is awesome.
Hi traders,
Due to personal health problems, I'll keep this short. I still wanted to update you with some forex analysis for the support you all shown me.
DAILY CHART = LONGER TERM TRADE
XAUUSD LONG:
ENTRY : 1288.75
SL : 1280.41
TP : 1323.75
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade
First of all thanks to TV for letting me be one of the beta testers for new Video idea Feature. Works Like a charm, and is considered to be a really great thing for TV authors, as they can describe more in-depth ideas they publish.
I have opened a Sell position ( 5% ) and may consider adding more because eventually, this has more chance to drop than climb to...
Seems that this could be a small corrective move before more down.
I have made an additional Sell entry.
But break above 1284 is not bearish. Other than that watch the down move.
Closest Target could be 1267 - Extended Target 1260 - 1257
