Goldtrading
LONG ON GOLDGOLD CLOSED ABOVE THE RESISTANCE AND WE CAN SEE THE LAST CANDLE REJECTING THE SUPPORT . WE COULD TAKE A LONG POSITION HERE TO THE NEXT RESISTANCE LEVEL(2010)...
WHAT DO YOU THINK GUYS?
GOLD, Should you be buying ?profit booking on GOLD which started on 7th of August is continuing. Weeker global cues in metal sector and a pinch of taking money of table is what we have witnessed in last 15 odd trading sessions. RSI is looking little week but nothing to worry.
Basis FIB retracement the support levels are perfectly aligned to 0.38 Levels and resistance is at 0.23 levels. In the short term please expect a few more days of sideways action before the precious metal starts moving up again.
Hey days are back for yellow metal.
No recomendation. Purely for Educational purpose.
Symmetric triangle - Entry levels shared in picPrice formed a symmetric triangle pattern and it is about to break the triangle, enter long when breaks the level mentioned in the pic.
GOLD: short term: Triangle formation for terminal thrustAs per short term view, GOLD is in the last phase of corrective wave-y, which is unfolding as an impulse. Currently the price structure suggests that there is a formation of a triangle & this triangle is being formed as a wave-4. This wave-4 triangle formation often takes place as a preparation of terminal trust and after that the 5th wave of the impulse get started.
As long as GOLD prices are above 1960 level , one should go long for the target zone of 2050/2150/2190.
Invalidation level : 1960
For long term scenario on GOLD: refer to the attached link .
GOLD : YELLOW PRECIOUS METAL : DOING EXPANDED FLAT CORRECTIONLong ago a surge in GOLD price rally stopped in the year 2011 & the point has been designated as a primary wave-5 by all the elliottician. From that level we have seen a correction upto the level of 1045 $. A nice corrective move.Right from that level GOLD price raised up & currently trading in a all time new highs range. But this rally from the lows 1045$ is looking more corrective than an impulse. As per the current price structure we can assume that GOLD price is forming an EXPANDED FLAT CORRECTIVE pattern. And currently we are in the last phase of WAVE-B (circle). The wave-B (circle) is unfolding in a 3 wave corrective structure as w-x-y pattern. We are in the last phase wave-y which often takes place as an impulse rally which is discussed in the short term view over GOLD. The link is attached to this idea for the short term view.
Rejection line formed in GOLD - Bullish beyond breakoutGold prices can rally beyond breaking the rejection zone. It is still in the accumulation zone as per my previous post on the gold chart,
We have see two false breakouts happend in the last two weeks beyond and below our accumulation zone.
Bear zone is also indicated. If price falls to that zone, bears take control.
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.
Don't miss the great sell opportunity in XAUUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1966.0). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1922.00
TP2= @ 1906.00
TP3= @ 1906.00
TP4= @ 1842.00
TP5= @ 1814.00
SL: Break Above R2
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XAUUSD looks bullish on last 2 days , Dollars weakness may push the price higher till 1972 tomorrow and further upto 2024 on friday..
GOLD MCXOn the 4 Hourly Charts Gold MCX has Strong Support Zone around 49900-50000, As it was previous Channel Resistance now acting as support. We may see the uptrend resuming, On should follow strategy to buy on correction and Hold for investment with Stoploss below 49000 on closing basis.
GOLD1! Short TermGold has corrected well from the recent highs and if it sustains above 54850 levels then take the trade with the following targets
T1 - 54997
T2 - 55143
T3 - 55299
with SL - 54690
Can We Expect GOLD Price Above 56000 again?According to this chart, gold is reversing downward after making an all-time new high of 56191 . Its support level is 53800 . You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR.
This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2) levels.
Moreover, for short-term investors, I don't recommend selling the gold until the breakout of my support. Intraday traders can enjoy price fluctuation, consolidation, and sideways movement.
GOLD LONG $2050 and beyondStrong buying in GOLD since the last 24 hours. Go Long until target $2050.
Sentiment broken at $2000 for GOLD. This brings us to GOLD at a all time high.
Global economy looks bleak. Hedge away!
Long Term BULLISH GOLD GOLD has broken 2000$ barrier. GOLD IS on BULL RUN.
Gold demand is increasing as a safe bet to ride out the pandemic.
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!
BE CAREFUL OF GOLD IN 1960 -2020 RANGE ... CAN TAKE U TURN FROMGOLD IS GOING PARABOLIC , & TRENDLINE RESISTANCE IS AT 1985 . BEWARE IT CAN DIP FROM HERE & BOUNCE BACK TO 2020 CREATING NEGATIVE DIVERGENCE .
Bullish XAUUSD, Weekly analysis, July 27-31Hi traders,
Hope you all trading well in the unstoppable bulls in XAUUSD,
As the trade quote say, 'Go with the trend' this week also looks like bullish trend continues, more than technical this pair operates strongly with fundamentals, A weaker USD moves the Gold higher and higher, Dollar index also expected with some support, hope it respects,
According to XAUUSD price action analysis, this week i present the analysis with Weekly chart,
Analysis also done with Monthly chart, A strong resistance line passing through in the price of 1936 right from 2011 . perhaps if it get breaks price action indicates 1972 would be the bulls will get tired.. let see.
However Gold is going to see its new high price this week..
If anybody request , i can share the Monthly analysis chart ..
Note - Price action analysis done is only for education purpose, not the final result of how price moves..
Thank you
