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
Hi. It is worth to risk a sell below 1296 and aim 1270. Good Luck.
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...
Tricky and Hard trading lately as I try to understand what will happen with that 1254. Normal buy opportunities fail quickly indicating that something is missing. Last sell opportunity didn't go as expected but later on in private trading room ( for Russians only ) we manage to sell at 1282 again once 1284 was broken back by 2 dollars. So at least now gaining back...
What I personally want to see is a daily close above 1282. If I would get such close I would personally buy more. We have a multi-week range rover and it is very boring. The sell in the last idea was for hedging purposes because I cannot know what could happen, so if it would drop from 1272 I wouldn't be 34% down at lower levels and I would have a lot more cushion...
I started to understand why Gold did not follow EU completely because it would need to break something that it apparently didn't want to break. So Like stated in the last post, I made an Entry in Gold at 1278.2 and EU at 1.16350. I don't know why I trade EU this time as well, maybe because why not as they both go like twins. Target's remain 1322 1355 so in EU...
As we approach sensitive levels and targets first daily moves start to get even more important! If we approach 1270-1272 area now that seems more like a Sell with TG 1262- 1254. Break of 1272 up is a bullish sign. If we approach 1262-1254 first, it is considered as a bullish sign as well. Note that Daily TF TL aligns perfectly with TG I have 1254 area! I would...
I was watching EU as it clearly leads Gold now. I have mentioned they both are twins, same behavior! Only thing is that sometimes Gold is faster, sometimes EU is faster! + Gold reacts on the geopolitical events. Who is faster now is not hard to tell! Seems that EU is going for a double bottom! Usually, previous Lows are broken and when ppl sell because previous L...
So If we know that 1276 is a gate level and if we know the gold behavior with these levels quote: " Whenever there are Gate levels, at some point, Gold likes to break them and go opposite direction without reaching the gate level break - target. " So it seems to be the case here with the gate level again. So that being said if we can break 1282 Swing H by 2$ I...
Multi-day view: Gold price action contained in a multi-month bullish channel followed by a steady rally from early July to reach my projected medium term target of 1357. A sell off from here had so far found support near 61.8% retracement area but the price action failed to break the prior resistance, momentum indicators are suggesting for a more downside to...
Follow up to this chart! I like what happened! Like I said I read chart breakouts like signs for future! A Breakout above/below a certain level doesn't mean it has to reach it right away! To be honest, I counted on the fact that It will do some nasty things with 1276 and nothing will be as good as I would want it to be, but no, this time Gold made the touch and...
Well although we touched 1277-1276 and bounced up, this is not a very promising bounce. Good things are: EU is heading higher today, means that even though Gold is lagging to follow, means it will follow up in few. We broke Tendency level 1287 upwards, so even after a pullback the tendency should be up ( although at 1288 stronger level was located so it may...
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...
Hi everyone, Some of the traders are still confuse with Gold. So basically Gold is now standing somewhere between two very important points. If you look at the chart , you will find Blue marked area at the Top, Which is basically Supply Zone For Gold. According to this Gold will possibly not been able to break that zone ,along with Supply zone at the same point...
Beautiful Swing L at 1299. 1299 is more than just a simple level. It is a tendency level + dynamic level that means 1299 should be reached + if broken downwards it gives a bearish sentiment, but if you go long from it and it breaks, there is a 99% chance of a test-back, meaning that you can close the long entry with 0$ loss. If 1299 broken downwards by 2$ there is...
Although I posted an update about these levels, I will chart it for my personal Journal! As far as it cannot break 1293.9 by 1$ + 1296 Gate to 81-77 is open. I am not trading the short side! I remain bullish for 1322 - 1348 - 1378 I will buy elsewhere above or if Gold provides 81-77. Intraday remains bullish but somewhat exhausted! So the break of 93 and 96 is...
Not a secret I have mentioned two PV big targets back in the day 1180 and 1430. 1180 came first when 1430 will be hit remains a secret. But here is the thing, how big are the chances that 1430 can be hit because of these geopolitical tensions? No questions asked that Gold is going for 1348 and 1378. But when these are reached, what's left to reach 1430? "...
In the previous post, I wanted Gold to prove it can be bullish with breaking 77 and 82! Although I tried short, sentiment immediately changed after 1$ break of 1277. And of course after breaking 1282! I would keep buying every daily close without looking at possible dips as they all should be considered as an opportunity to add! I will update swing L's...