While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too...
Here is my simple analysis for gold after being long from $1270 and closing them at $1295 for a short position that failed. I was hoping that the daily bearish trendline would continue but instead it was broken to the upside.
I am now looking to go long on the next 4hr higher low to take advantage of the bullish trend. A retest of the $1290 resistance/support...
. There is a possibility of temporary retracement to suggested support line (1292.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support. ...
Our last analysis for the SPX500USD marks the top. A clear drop followed and new signals are coming up telling us that this won't stop...
Feel free to hit like to get started if you want to now... Thanks a lot for your support.
Here you can see our previous analysis for the S&P 500 Index all-time high (This is not financial advice. All information shared by Alan...
Gold did not fail us , just rally from the right position or support.
Its clear that channel broken will send gold up to 1250 -1260 zone.
In the long term ,we still think gold will need to drop later Aug - Oct.
More and more central bank is joining the rate-rising club and showing strong desire to follow up.That would b a bad news for long traders...
So this setup for gold is amongst the most straight forward setups, a lot of confirmations coming together at the same point.
Break and retest of trendline
Fib key zone
Previous reversal zone
Touch of a smaller scale trendline
if could be a very nice buy opportunity for gold, and I will definitely be keeping an eye on this setup, provided I get price action, I...
Here is a simple bearish trend continuation short trade for Gold. Daily has made lower highs and lows and price is now approaching the bearish trendline again.
The fibonacci 0.618 sits just below the $1295 level so stops above the 0.786 fib and $1300 psych number would be the safe option.