Great opportunity to get some optimum positions for gold longs, with minimum draw-down and substantially high reward.
Chart explains everything. Note: These are simply my personal views and analysis which may not fit with yours. Please use these as education or another views. Only rely on your own analysis. Always remember Risk Management. If you like it, then give me thumbs up. If you want to stay alert on my ideas, views or analysis then follow me...
It's look like that the OANDA:XAUUSD is finishing B wave, so when it's done the sell is a good opportunity. Please trade with care.
XAU/USD tests dominant channel down In result of the surge that was triggered by two disappointing macroeconomic data releases as well as the rising 55- and 100-hour SMAs the price of yellow metal ended up at the 1,273.00 mark. The further advance seems unlikely, as the exchange rate faces resistance formed by the monthly PP and the upper trend-line of a...
XAU/USD relentlessly tries to reach monthly R1 at 1,298.00 Despite release of better than expected American housing data the bullish pressure prevailed. To certain extent, the surge was supported by a combination of the 55-, 100- and 200-hour SMAs in conjunction with the monthly PP. However, the fact that the pair managed to break through the upper boundary of...
XAU/USD trades below moving averages Using support provided by the 55-, 100- and 200-hour SMAs together with the monthly PP, the exchange rate managed to climb to the weekly R1 located at 1,287.92. In other words the pair has practically managed to form the third reaction high of a four-week long ascending channel. However, a release of widely expected American...
XAU/USD falls by 1.1% The exchange rate dropped by almost 1.1% on Friday in result of 10 minutes trade that moved about 4 million ounces of the precious metal. Nevertheless, the drop was generally anticipated, as it illustrated a breakout from the rising wedge formation on daily chart. In any case, there are two main options for further movement of the pair. As...
Morning outlook - XAU/USD breaks from falling wedge In result of the previous trading session, the exchange rate made a breakout from the falling wedge formation. The surge was not sharp, as the pair was slowed down by a combination of the 55- and 100-hour SMAs as well as the 61.8% Fibonacci retracement level. In first half of the day the pair is expected to...
Hi traders! (This trade was already shared with students) I needed confirmation of the down move before going into this trade. Now that gold clearly broke support and close under it is what we needed. USDJPY also showed us the way! We will have a classic retracement of the up move with gold going for those FIB extension Here is what I'm thinking : XAUUSD...
Morning outlook - XAU/USD surges in two channels Due to increase of the US Consumer Price Index, the yellow metal continued to advance against the buck simultaneously in two ascending channels. On the one hand, the pair is experiencing pressure from the 55- and 100-hour SMAs, which are continuously pushing it to the top. On the other hand, the pair faces a...
Hi traders, Here we have a nice MM move with that daily wick after NFP happened. I always try to keep a close eye on this type of movement as it changes trends. This makes this entry a very nice RR trade. MACD divergence MM daily wick Heavy support at current price level Here's what I think : XAUUSD LONG: ENTRY : 1273.87 SL : 1259.93 TP : 1315.70 Trade...
Hi traders! I posted the chart yesterday but didn't fully post my analysis here. As I mentionned, gold broke his uptrend channel again. DXY making still pushing upwards. I leave my chart to do the rest of the talking. We are already in this trade like, here's what I suggested : XAUUSD SHORT: ENTRY : 1301 SL : 1308 TP : 1274 Trade safe! Disclaimer: This is my...
Hi traders, If you been following me you saw the call I made before the FOMC news dropped. We are already off in profit but I still will put up the analysis. We still need a break of the red line in the chart. If you look at the WEEKLY timeframe, a very nice bearish wick is now there and the MACD is about to go HAM on us. SL is already in profit Here was my...
Morning outlook - XAU/USD continues to move downwards In accordance with expectations, the surge of the gold price did not last for long, as the pair was turned around by the monthly PP located at the 1,300.00 level, which transformed from support into resistance. At the moment, there are certain signs that the rate is going to try to climb to the top again....
Hi traders! Gold may give us the same kind of pattern we saw on that last bull run it had before falling down to the abyss. MM looks again this week to flush every current long out before going back to its bullish ways. We have FOMC decision this week... and last time we had a Fed intervention in the market, we saw gold swing hard both ways (25$ swings) before...
Today we saw a "drop" of $5. Of course that's all it takes for the bears to flood TV with their sub 1200 predictions (they'd probably just be happy to close their current underwater positions at BE). One of the main issues people are having, is that they think this rally is solely due to the tensions with North Korea. As we've all seen with political tensions...
Hi traders! What is this? Going along with the USD? Oh it seems like we are my friends! MACD just crossed and DXY is finishing strong this wednesday close. RSI is lowering and all other pairs are following suit. This is for the short term but it seems that USD will be taking some breather and regain some of those losses before going back to that weakness that we...
Hi traders! Last week, XAUUSD hit our TP so perfectly... it kind of hurts!! Price went up to 1356 before dropping more than 200 pips. Now, since we had the retracement I was waiting for, we are going long yet again for the third time. Nothing has really changed in the forex market DXY still weak USDJPY still weak RSI topped and is lower MACD same XAUUSD LONG...