GOLD @H4 CHARTGOLD
will make a side way movement or will retrace back to the 15.12.00 level and then it may shoot up beyond the 15.25.00 level will further move up to 1525.00 for the coming weeks.
Goldidea
Gold | Triangle pattern Triangle pattern observed in Gold. Pattern looks to be valid and the target comes at 1477.
1438 and 1382 are the trend defining levels and so conservatively, longs can be initiate beyond 1438.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Gold | Descending Triangle - Short below 1400Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted levels.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Gold buyers exhausted, south direction to take prices at 1323.92The shiny metal went past the 1355 level on friday and on the same day reverted back to end the day on a negative note, which indicated that the buyers ran out of steam. Today, the prices breached the immediate intra - day support of 1337.88, which further supports the bears. Moreover, on daily basis, the prices are showing divergence with the RSI indicators, extending support to the bearish outlook for gold. I think the prices will touch the 1323.92 support before we can see any upwards movement in XAUUSD. on reaching this level RSI would also be at support of 60. If the prices break further below this level, next target will be at 1310.16.
Don't miss the new buy opportunity in GoldTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. 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.
. The RSI is at 80.
Take Profits:
TP1= @ 1329.00
TP2= @ 1347.10
TP3= @ 1365.10
SL= @ 1286.00
Don't miss the great buy opportunity in GoldTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. 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.
. The RSI is at 86.
Take Profits:
TP1= @ 1324.45
TP2= @ 1333.00
TP3= @ 1347.10
SL= @ 1286.00
Gold predictionGold is in big bear market and i am giving you an idea and a prediction of what could happen next.
exit condition = breaking ema 21 or 1330+ area and just wait for an update. Big bear has not been played out yet
GOLD Short Term Analysis - Bearish Trend Gold pair moved higher but still remained in trading range after holding support level on Tuesday.Stronger than expected US home sales buoyed the dollar, which continued to move higher on Wednesday. As technically the Gold trading in the range of 1260 to 1285.00,Prices appear to be forming a bear flag pattern after breaking down last week below support near the 1,284 level. Short term near resistance level 1282 and another upward sloping trend line 1284. We can see one more fall from 1280 to 1284 to test 1260/1250.
Short @ 1281
TGT: 1270/1262
SL: 1286.00
Gud luck !
Gold broke major support for more sell side direction XAUUSD Technical Overview:
Pivot: 1188.20
Key Resistance: 1184.55 - 1188.20 - 1192.89 - 1196.48
Key Support: 1180.23 - 1176.45 - 1174.88 - 1171.43
Technical Indicator:
RSI: The indicator having bullish divergence but moving under 50 level near to oversold condition.
Moving Average: CMP 1182 Price moving under Simple moving average 100 & 55, sign for more down trend ahead.
Technical Trade Idea:
Most Likely Scenario: short positions below 1188.20 with targets at 1182.55 & 1176.45 in extension.
Alternative scenario: above 1188.20 look for further upside with 1191.89 & 1194.66 as targets.
Overall, Gold markets broke down rather significantly during the day on Thursday, slicing through the $1200 level like it wasn’t even there. Furthermore, we broke below the hammer at the $1195 level, which is a further sign of weakness.
the US economy is running at full steam ahead, it was appropriate that the Fed removed that sentence from the statement - But what markets traded was the forward outlook - As the policy rate moves closer to estimates of neutral, members of the FOMC and observers, market participants, now forecast a modestly restrictive terminal FFTR while other Central Banks embark on their own normalization of policy, thus stripping some of the yield advantages out of the long end of the curve for the dollar.
However, in the near term, the dollar remains on top and following today's set of economic data,"Between Chairman Powell's comment yesterday the that the U.S. economy is in a particularly good spot and today's robust durable good orders and excellent business spending, despite the August pause the six months to July saw the strongest investment spending in five years, the dollar has room to run on the American economy alone."
US economic data
US: Pending home sales decline by 1.8% in August vs 0.4% expected.
US: Durable goods orders increased by 4.5% in August following July's 1.2% contraction.
US: Real GDP expanded at an annual rate of 4.2% in Q2 to match expectations.
FOMC outcome notes
As expected, the FOMC raised the FFTR and the IOER by 25bps at its September meeting.
‘Dot-plot’ distribution around three hikes in 2019 narrowed; FOMC still sees strong growth as cyclical.
2021 projections indicate a ‘soft landing’ through lower real growth and slightly higher unemployment.
The only significant change to the statement was the removal of the description of monetary policy stance as “accommodate”.
Thanks
YoCryptoManic
Gold Positional TradesLong above the green line for a 5% upmove in gold.
Short below the red line for a 5% downmove similarly in gold.
GOLD - CAN BE SHORT7th January 14:30 HOURS - IST
GOLD RALLIES TO 1185-1190-1195 to find Resistance and helpful to Short to upto of 1160-1165.
Traders may keep Stop Loss above 1198
