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This idea is simple. It seems that the 2016 high will be the line in the sand. As I posted a few hours ago in this idea I entered a long position at 1389-1391: Target : 1440$.
The price of gold is moving between two areas of BIG FALL. Then GOLD's price will fall down for long term
I see that the correction of Gold is almost done. I have decided to go long. My stop is not very wide but I can still move it a little bit. I'm planning to add more once descending residence broken. Looks like this is going to be a swing trade. I'm going to update this post accordingly PS. This is not financial advice.
XAUUSD forms the flag pattern which is exactly in the Fibonacci area 61.8 This will be in line with the strengthening of the dollar on DXY
In the long run Gold potentially to set Bullish Butterfly Pattern, if the pattern is finished with the length of CD between 1.61 - 2.24 fibonacci retracement of BC' (Potential Reversal Zone, between $ 819/oz to $ 972/oz) then there is an opportunity for gold price to reverse the trend, the pattern will fail if the price move back above point A ($ 1375/oz)
Is it possible that gold can't break next resistance? Good Luck
this zone is highly probable to carry our long term buy setups
is it possible that gold not break the next resistance? good luck
Gold has been trapped in a range between 1200-1300. Essentially any trade you've made within this range, you will have made profit even if your analysis has been 100% incorrect (which I guess isn't the worst thing, as this could be used as a good learning tool). Over the past few months, it seems that there's been numerous "fat-finger" incidents, that have...
XAUUSD : GOLD 1 Day chart is testing important resistance level. It is best to observe before taking any long trade as gold love 1200 Psychological Level.
Since price has been following upward to retest resistance (down/green) trendline, it can attempt to test other resistance: the past high swing & resistance at that price as is (blue line). Test of these prices resisted may be needed to ever start a short condition, yet Daily TF:(Following image) shows attempt at resistance (MBL slightly upward (yellow line), but...
The price of gold is in the middle between long-term support / resistance levels. An upward trend may lose momentum. The dimension of the movements upwards is reduced. The size of the rollbacks is increasing. The closer the summer, the stronger the influence of seasonal decline in gold prices. If the upward trend does not get support in the coming weeks, work...