Goldtrading
Gold in a crucial level. Watch out! Gold in make or break level. Enter only after the confirmation candle (Weekly).
RSI is in the overbought zone!
Spot GOLD Long term ViewSpot gold on a daily chart has witnessed a double bottom around $1677.
Can be a possible neckline Breakout around $1755, which can be extremely bullish for gold.
A Gold Short positionGold is set to retest 1720 area before jumping high to reach 1800 mark. Will go for buy again at 1720 area if Bulls show some momentum up.
Gold has formed a flag patternGold has formed a flag pattern after a trend line breakout so it looks good in short term
Spot GOLD Short term ViewToday's closing for spot gold is extremely important $1727
Also not to forget that tomorrow is a holiday because of Good Friday and we have US non farm payroll data
So Monday gap up / gap down is possible
GOLD Medium term ViewAs anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there.
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
XAUUSD, expecting slight bullish upto 1760 area, Mar 22- 26Gold against Dollar have been bullish for last 2 weeks, almost it reached the area of the price where it was in starting of March, So close to enter a new month expecting Gold may go up in coming weeks, this week it could be slightly bullish or in sideways..
Analysis only for education purpose
Gold Shorting for Swing TradingPullback and will continue downtrend towards 1600 Support Zone.
Perfect time to Short XAUUSD.
GOLD IN PARALLEL CHANNELGOLD has been trending down in the past few months, price still looks weak. It has made a parallel channel on the downtrend. It's forming a reversal at the bottom trendline as of March 2021. We may see some good buying momentum if price takes support in the following area.
MCX Gold, BullishBuy MCX Gold at 14,944.43
SL at 14,844.89 and hold it till 15,293.51
Risk to reward: 1:3.5, From 15,293 it will drop till 14,750.17
GOLD "BOTTOM OUT" ???1. Gold took support from key support level.
2. Formed tweezer bottom.
3. Also taking .382% fibonacci support.
Buy Gold With Strict SL Of 1670$, Closing Price 1726$
Trading Signal For Gold XAUUSDTrading Signal:
A Trading Signal is seen in Gold XAUUSD
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Gold Analysis for 2021| Descending Triangle pattern formation Gold seems to be consolidating in a triangle pattern after a big upmove in the covid time. It seems that this year i.e. 2021 it will be trading between a range of 43800 to 50000.
XAUUSD, Inverted H&S pattern under construction It looks like bearish Gold outlook may have a chance to change bullish atleast, 1750 area towards this weekend
#gold #commodity #mcx # one can long Gold as per their trade setup for swing trade if find reversal from these harmonic patterns PRZ.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
1670-1690 is a strong buy zoneWhy am I so confident of 1670-90 zone..,
the same zone gave support 5 times earlier and it is the 6th visit to same zone..,
It is the zone from where 400 dollar or 25 percent upside rally started..,
And it is the zone of inverted head and shoulder breakout,,
Expected Road map - 1680-1758 - 1698 - 1815- 1768 - 1868 (channel top)
Buy the dips and keep accumulating..,
Stop on closure below 1670.., Below 1670.., 1530-60 zone possible..,
GOLD : Bullish outlookGOLD: should maintain the level of 1600 & regain the level of 1750 . Losing 1600 will raise concern & the prices may continue falling. However the internal structure suggests that it should give a push on upside. Buy only Above 1750 closing basis with SL of 1600.
