XAUUSD Technical Analysis
Gold is in strong downtrend and can clearly see more big red candles than the green ones which suggests the price has tendency to go lower. We already had a Pullback at 1795.36 and the second Pullback might happen again which would make a double top at 1795.36, but if it doesn't happen we expect the price to go lower to at least 1743.16
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Goldsignals
GOLD ranging...and UP AGAINAs I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect, GOLD arrived in the 1920 area as I predicted 4 months ago ... it rejected until the 1970 area as can be seen from my analysis last week and the climb to 1920 started again!
If he rejects again from that area ... I think there will be a massive descent on the GOLD until the area 1830 or even 1774
THIS WEEEK...even though I had many objections and many messages of disapproval ... as I said GOLD went down even below the 1774 area and now it is at the Fibonacci level 0.5 from where I expect it to reject and rise again towards 1836 and from there DOWN AGAIN to level 618!
however ... a closure even for 1 day below 1754 will make me think of SELL until 1688!
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*This information is not a Financial Advice.
XAUUSD (Signal) for June 15, ISTThe Decreasing Momentum and Rising Inflation.
Gold is Expected to be Down Today. (June, 15, 2021)
The Rising Inflation is the killer for Gold Price Action Momentum.
This is the Reason of Depletion of Momentum.
Traders are in Extremely Fear Sentiment.
The Current Momentum is suitable for Scalp Traders.
Currently t the Time of Writing Price Action is lying in the pivot range.
Overall Strength Bearish.
Expected a 1.20 Dollars Up from the opening and 6.00 Dollars Down from the Opening or from the 1.20$ Up to Down 6.00$.
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GOLD RANGING...AND UP AGAINAs I said last week ... GOLD closed Fibonacci for 1 week and now the only valid chart remains the 1 month ... which shows that GOLD will continue its fall to the Fibonacci area 618 from where we will reanalyze the whole situation.
GOLD reached as I said at Fibonacci 618 from where I expect a major rejection until the 1760 area
THIS WEEK...as I said in the last few weeks ... GOLD fell to the Fibonacci 618 level from where to climb again ...
now I see gold in 1764 from where it will have a substantial rejection until 1729 and then it will continue its way towards 1880
NOTE: this pair may be influenced in the short term by any news
GREAT ATTENTION: Our analyzes have an accuracy of over 91% but due to market manipulations during this period we will avoid putting exact values on SL!
We also recommend avoiding short-term trades during this period because news can appear at any time that can destabilize the market.
*This information is not a Financial Advice.
GOLD MCX ANALYSISGold MCX has strong Channel Line Support As marked on the above chart and we can see buying resuming in the GOLD MCX, With the Stoploss of 50400 one should Go Long for the Targets of 52000 and 54000 on the upside. Once GOLD MCX Closes above 52500 it May Again Resume its bullish momentum.
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 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 Short Trade SetupGold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended ended a wave B at 1593 where the hourly is turning down to correct the cycle from the 1611 highs. While below 1593 it can see another swing lower in wave (2) to correct the cycle from the 1447 lows. While above the 11/12/19 lows the metal can continue higher in wave I toward the 1700-1750 area before it corrects the cycle from the 12/12/17 lows.
GOLD TRADE SETUP Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended correcting the cycle lower from the 1/7/20 highs at 1611 with the bounce to the 1588 highs where the hourly is turning down. While below there it can see another swing lower in wave (2) to correct the cycle from the 1447 lows. While above the 11/12/19 lows the metal can continue higher in wave I toward the 1700-1750 area before it corrects the cycle from the 12/12/17 lows.
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.
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)