Gold - may call it bear's day !Gold looking for a strong bearish moment, quite a few of USD and CAD economic releases studded
Goldidea
Is a correction in Gold imminent?Looks like we are in the 5th wave according to the Elliot wave theory and moreover there is a negative RSI divergence as well. Indicating weakness in the momentum!
GC1! ShortI hope you can now see how the GC1! represents an excellent Bearish Bat low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
gold mcx gold facing clear rejection on the above if the price didn't sustain on the zone we could expect the price to 46300 and 46800
Gold's final move up towards 1800 areaGold should move beyond its previous high but will most likely stay within the all time high price. This may be the one final move before it turns bearish for a long while
GoldNeed to wait and watch if gold gives upside breakout or breaks support 1680/1630 and starts downward journey
gold mcx MCX:MCXGOLDEX
gold strugling to move up buy above 47400 for a tgt of 47900
and on the lower side sell below 47200
GOLD ALREADY PANNED ITS NEXT MOVE !! HERE IS THE REASONGOLD BREAKS RESISTANCE AND NOW ITS WORKING AS SUPPORT SO POTENTIALLY GOLD CAN REACH OUR NEXT RESISTANCE POINT and CUP HANDLE PATTER RESISTANCE POINT TOO that IS 1732 level WHICH ALSO HAS OUR SELLING ZONES IF IT FAILS AT POINT AND DROPS AGAIN SO I ALREADY GAVE IDEA OF OUR SHORT ENTRIES AND IF IT KEEPS SHOOTING UP AND BREAKS OUR RESISTANCE WE GOING FOR LONG AFTER A RETEST
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Gold future Update from Trade MarketsBuy gold at above 1730 and hold your target upto 1750 with minimum stoploss 1720
GOLD SHORT TRADE SETUPThe 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume.
SHORT GOLD
@1700-1704
TP: 1680
SL: 1715
GOOD LUCK !
XAUUSD weekend analysis, May 7,2020Price @ 1654 is the area of Confluence may be the reversal point.. let the day will answer.. if it reverse at the point of 1654.. sure it will go up at the end day of the week..
GOLD SHORT TRADE SETUPThe 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume.
SHORT TERM SELL
GOLD 4H. Looking bullish 1825-1850 easily possible.
Reasons:
1. Rsi at oversold condition.
2. There's a abcd triangle pattern.
3. Gold is always precious.
GOLD Trading IdeaOne could argue is that the period could be of distribution, but I think that gold is Bullish in the long term. As I have shared in previous chart, so this looks like another accumulation to me.
GOLD Triangle formationGOLD
Gold has crossed the major psychological level which is 1600.00
And currently trading at 1620.00 level
It has broke the triangle formation and reached the top side level of 1620.00
We can expect short term fall back towards 1606.00 level
From this level suitable long position may open at 1606.00
Take profit will be 1628.00
Stop lose may placed below 1597.00
Leave your valuable comments below
GOLD Long Term Technical AnalysisAll levels on the chart.
1. Range breaking out after 6 years is significant.
2. Even if the price comes down, there would very difficult for it go below this range due to heavy accumulation over this period.
GOLD - Long Term PossibilityGold possible cud be heading towards sub USD1000 levels in the long term.
GOLD SHORT TRADE SETUPGold is favored ended the cycle from 8/16/2018 lows where the daily right side is up in wave ((3)) at the 9/4/2019 highs at 1557 and a pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1446 on 11/12/19 where the 4 hour is turning up. While above there the metal can continue higher in wave I toward the 1700-1750 area before it corrects the cycle from the 12/12/17 lows.
