Gold is holding well inside the last week's Channel Up and on the 1H timeframe it reached the overbought zone (RSI = 74.328, MACD = 2.620, ADX = 35.131). Even though we are bullish long term, this overbought state might cause a minor pull back or consolidation as on September 15th. The RSI has in fact reached the 77.600 R1, which was the High of that date. This...
Gold turned bullish again on the 4H timeframe (RSI = 63.771, MACD = -1.560, ADX = 40.595) after crossing today over the two week Channel Down and naturally the 4H MA50 and MA200 periods. Following the 4H MACD Bullish Cross, this rally can extend to at least R2 and that's our bullish target (TP = 1,953). The entry signal will be closing over R1. ## If you like...
Gold crossed and will most likely close the day under the 1D MA50 turning the 1D timeframe marginally bearish (RSI = 44.910, MACD = 1.190, ADX = 25.617). The strongest Support level is the 1D MA200, which right now is trading exactly on S1 (1,893). We have however a bullish pattern close to completion as the price may be forming the RS of a huge Inverse Head and...
XAUUSD has closed the last three 4H candles over the 4H MA50, turning the 4H timeframe bullish (RSI = 58.063, MACD = 1.870, ADX = 29.244). After the yesterday's Low at the bottom of the 4H Channel Up pattern, this is technically the new bullish sequence that aims at pricing the next HH at its top. The 4H RSI rebounded at the same level as on the July 06 Low. If...
XAUUSD on the 1W timeframe shows a bullish technical action still at its start (RSI = 59.100, MACD = 26.140, ADX = 22.906) supported by the fact that this week Gold is rising after holding the 1D MA50, which was the Resistance for the last 2 months. This rise is an extension of the HL rebound at the bottom of the 8 month Channel Up and has already reached our...
Gold is trading inside a Channel Up that got it off the prior downtrend as it crossed above the MA50 (1d). The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th. Perhaps the most important development today is the first Golden Cross (4h) since March 15th. Trading Plan: 1. Buy near 1,966. Targets: 1. 2005 (top of...
Gold crossed over the 1D MA50 today for the first time in almost 2 months (since May 17th). As the 1D timeframe turned bullish again (RSI = 58.454, MACD = -7.380, ADX = 44.489) this is the first major bullish signal of a projected new long term rally. However we will wait until the first 1D candle close over the 1D MA50 and make a confirmed buy entry. Our first...
Gold broke on Friday over the LH trendline and reached the 4H MA50 for the first time in 10 days. The rejection is now retesting the LH in the form of Support, as it happened on the May 30th bullish breakout. That was the leg to the top of the Channel Down. With the 4H timeframe being neutral (RSI = 46.429, MACD = -2.220, ADX = 38.259) and the RSI on the same...
Gold hit the bottom of the Channel Up that started back in November turning the 1D technicals bearish (RSI = 38.023, MACD = -15.070, ADX = 40.852). The 1D RSI in particular is printing a sequence very much like the Channel's previous bottom on February 27th. On both patterns Gold traded under the 1D MA50 for long, this time has been under it since May 17th. We...
Gold is approaching the bottom of the monthly Channel Down, in fact it has made a double hit on the 0.236 Fibonacci level. If S1 breaks, wait for a buy at 1,915 (exact Channel bottom) and TP = 1,947.50, but with 4H technicals nearly oversold (RSI = 35.662, MACD = -5.130, ADX = 48.938) and the 1D RSI approaching 40.000, buy now as long as the price stays over S1...
Gold crossed under both the 4hour MA50 and the RSI's MA, which has been a strong signal since the start of June. During that time the price has been trading inside a Channel Down. Sell on this confirmed signal and target 1920 which will make a new Lower Low. This pattern gets invalidated only if the price crosses over Resistance A. In that case target first...
Gold hit yesterday the HL trendline, which is the bottom of a Triangle pattern that has the R1 (1,985.50) as the Top, and is rebounding. This rebound was also made on the 1D MA100, the third time this happens in the past 10 days. The rise has already reached the 4H MA50 and turned both the 1D but more importantly the 4H timeframe (RSI = 49.565, MACD = -1.650, ADX...
Gold tested the MA100 (1d) and Support (1) twice and held, which resulted into the two day rebound we see. This is not just an MA rebound but a direct hit on the long-term Channel Up that started late in 2022. Consequently this is the new bullish leg to a new Higher High. A crossing over the MA50 (1d) validates this. Trading Plan: 1. Buy on the next red candle or...
Gold / XAUUSD is trading on the 1day MA100 at the bottom of the long term Channel Up. The downside potential is technically limited to a -7.95% decline on the dotted Channel trend line. The lowest risk trade is to buy after the price crosses above the 4hour MA50. Target 2080 (All Time High). Previous chart: Follow us, like the idea and leave a comment below!!
Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20%...
Gold hit today the MA50 (1d) for the first time since March 13th. The last time it closed under it (Feb 13th), it declined more as low as the MA100 (1d). If it closes under it, a potential low and rebound level can be within Support (2) and (3): 1935.50 - 1950. Trading Plan: 1. Buy if a 1d candle closes over the MA50 (1d). 2. Sell if it closes under the MA50...
Gold is consolidating inside a Triangle pattern, with 4H technicals naturally neutral (RSI = 43.149, MACD = 1.520, ADX = 27.050) always within the larger pattern of the Channel Up. The very same Triangle in March broke upwards aggressively to form the new Higher High of the Channel Up. With the 4H RSI on a similar Double Bottom formation, we are buying again,...
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