On the 4 hours timeframe Gold has made a bearish flag making it very suitable for a sell trade. No Divergence till now and will be taking trades according to the books. Entry on the poll. My Trade: Entry:2291.46 Stop loss:2358.20 Take profit 1:2227.82 Take profit 2:2164.18
Falling wedge pattern forms in an overall bullish trend. As we can see on H4 chart of the Gold Usd pair, We have a classic falling wedge forming. Breakout of this falling wedge will push gold prices higher with initial targets of 2340 - 2375 and final target of the psychological level 2400. Confirmation of the targets will come after an H4 close and retest of...
Gold fell again at the opening of Monday. Currently, the support is at 2286-2278, and the resistance continues to be observed near 2313. The focus of this week's trading is to short at high levels, with the final target near 2218. If the shorts are strong and fall below the support near 2278, strong support will appear in the range of 2274-2269 in a short...
Gold recently broke its previous trendline channel and is now retracing back towards it. We anticipate a subsequent downtrend once the retracement concludes. Our analysis suggests that the price might form a Quasimodo pattern, with a potential consolidation around the 2330-2337 range before declining towards the minimum target level of 2282.
Since it haven't sweep any LQ below the Apr SSL, I think it the H4 pull back and continue down to 2236.5.
As I look in to the pattern that perform trending to sideways. So i can conclude from my mapping chart that it will be bearish. aim for sell position.
This chart depicts the price movement of Gold Spot in relation to the U.S. Dollar over a period of time, likely on a one-hour timeframe based on the label. Here's a summary of the chart analysis: The chart shows a pattern resembling a rising wedge formation, characterized by converging trend lines sloping upwards. Within this pattern, there's a series of higher...
As the crisis in the Middle East is slowly calming down, the price of gold is ending its uptrend, in a quest to find a new equilibrium price. On this path, the price of gold first needs to find again its negative correlation with the USD, as it did during the times without significant news from geopolitics. The price of gold started the week with a strong selling...
After gold adjusted to a high level for a long time, the gold price fell below the 2300 mark last night, and also fell below the key low support level of 2291. Gold's new downward wave has emerged, and at the same time, short sellers have entered a new range! In other words, there will be a big change in the recent operating ideas, and a short rebound will be...
After the Federal Reserve kept interest rates unchanged for the sixth time and announced it would slow down the pace of balance sheet shrinkage, gold prices rose sharply above the $2,300/ounce mark and remained above this key price level. , and also achieved the target adjusted increase in publishing the previous issue sent to you. Market news and reviews The...
Here is my expectation for the GOLD to move long in the following days. Keep track of the break out for the triangle formation and then enter the trade with considering the risk and watch the trade to play out perfectly. Always manage your risk and aim to protect your initial invested funds then targeting the profits.
Recently, there have been a lot of bearish calls in the market. The louder the calls, the stronger the rally. The two important functions that affect the price trend of gold are risk aversion and resistance to inflation. First, the relationship between supply and demand. Global gold mining and supply have stabilized, with market supply exceeding demand and...
World gold prices increased sharply yesterday after the Fed decided to keep the standard interest rate unchanged at 5.25-5.5%. Traders have recently trimmed bets on when the Fed will ease monetary policy this year as the latest data showed the US economy remains resilient and inflation remains “persistent”. Meanwhile, the weakening dollar and US Treasury yields...
Price just reacted pretty decent at H1 pullback support level and it may possibly , trade bullish from the current market price. We saw how gold reacted to stronger dollar yesterday by falling over 1.7% yesterday. At the moment , we can see some accumulation currently happening to insight the start of bullish sentiment. A buy opportunity is emerging.
This morning, I shorted gold near 2326.31, and as gold fell back to hit TP: 2315, I profited and left the market; I added positions and went long gold near 2296 and 2286, and as gold bottomed out, it hit TP again: 2300 profit and exit. The total profit exceeded GETTEX:14K , which was another good profit for several days in a row! Tomorrow will usher in a golden...
Federal Reserve officials have made intensive statements earlier, saying that there is no urgency to cut interest rates. At the same time, Powell's recent speech, although less hawkish than expected, also expressed reduced confidence in interest rate cuts. These factors have put gold under pressure. The U.S. data released last Friday Weak non-agricultural data...
Gold, Intraday -36 Min - Indicators with Fibs Overlay: Yes I'm bearish but there was some bullish price action at the end of the day. Notice that dip into lows . . . and then the subsequent rebound on the 36 minute chart that set the stage for a nice rally at the end of the day. . . That is an issue that we will need to work through in the early part of the week....
Hello traders, At the beginning of the new week, our focus is on GOLD again. After the slight upward correction since the end of last week, the price has started to fall and clearly outlines a potential "Double Top" formation of technical analysis. As I predicted last week in my previous GOLD analysis, the price has broken below the Alligator indicator and is...