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GOLDWait And Watch ?? Look for Low risk, High reward, and High Probability setups- Things to Remember while Trading with the Trend 1. Know what the trend is. 2. The best trades are made in the direction of the trend. 3. Assume that the main trendline or moving average will hold. 4. The longer the moving average is, the better it defines the trend. 5. Wait for the pullback. 6. Don’t chase the market. 7. Don’t fight the market. 8. Even in the strongest trends there should be some retracement. 9. The closer the market is to the trendline, the better the risk/reward ratio is. 10. Use ADX to determine the strength of the trend. 11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy 12. Hold trades longer in a strong trend. 13. Wait for confirmation of a trendline breaking before reversing position. 14. Know where the Support levels are. 15. Place stops outside the Support levels. Thank You..
MCX:GOLD1!Long
by Rvkachhadiya
Gold Trend 25/08Gold stayed in a tight range yesterday. The day began at 1748, and the price was bounded within 1745-50 early in the Asian & European sessions. It touched the day-low near 1742 before the US session, then the buying came into the market. The day-high reached 1755, with day ending at 1750. The uplifting momentum has accelerated as the upward trend line shifted from (3) to (3.1) yesterday. The price has cleared the selling resistance between 1750-55 early in the Asian session today, triggered a new round of buying. Once the price clears the next resistance 1760(2), the next upside target will be at 1770-73. The structure 1730-80(4) dominates the daily chart for now. The 10-day MA(5) is now blocking the upward movement; nce it is cleared, the next target will be at 20 day MA(6). S-T Resistances: 1775-73 1770 1765 Market price: 1762 S-T Supports: 1759-60 1755 1750 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 23/08 - 26/08Gold sunk further yesterday. The market opened at 1746. The price first touched the day-high at 1749 in the early Asian session, and the selling began. It went to day-low 1727 at the US session opening, with the day ending at 1735. The price failed to defend the 1750 and 1740 support on the 1-hour chart, the downtrend channel(1) is still dominating the S-T trend for now. A decent rebound will only begin if the price escapes the downtrend channel(2). The price is now supporting at 1730; before the next break, expect the price to trade within 1730-50(3). Gold touched the 38.2% retracement yesterday near 1728(5). After it cleared the support of 1750-55, the price touched the next downside support zone, 1730-40(4). If the price closes above 1735, the price should be able to reach 1750-55 in the next 24-48 hours. S-T Resistances: 1750-55 1745 1740 Market price: 1736 S-T Supports: 1730-27 1720 1710 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 19/08Gold rallied to a new weekly low yesterday. The market opened at 1761 and traded range-bound early in the Asian and European sessions. The price touched the day-high at the US session opening, then the slide began. It touched the day-low at 1755, with the day's ending at 1758. The trend reversal signal has yet to appear, where the downtrend channel(1) is still dominating the S-T movement in the 1-hour chart. 1750(2) is still valid; if the price fails to clear the buying support within today, it should be able to stay within 1750-70(2) in the next 24-48 hours. The breaking of support 1755(4) has not yet been confirmed. If the price breakout from 1755(4), the downside target will be at 1730-40(5). S-T Resistances: 1765 1760 1755 Market price: 1752 S-T Supports: 1750 1740-43 1735 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 16/08 - 19/08Gold pulled back from 1800 yesterday. The price has kept on moving down since the market opened at 1801 back from the weekend. After almost 12 hours of sliding, it touched the day-low near 1772 at the US session opening. The day ended at 1778, down by USD 23. Gold escaped the uptrend channel on the 1-hour chart last week, and it has finally entered the period of consolidation after it cleared the support at 1785. Expect the price to be bearish, where 1773-1800 remains the trading range in the next few days. 1775 is the S-T resistance for now, and it will move lower toward 1755 if it clears the 1770 support. Gold has been rejected by 1800 in the past few trading days, and the price is now moving downward. Expect the price to consolidate toward 1758(4) or the 20-day MA. The 1680-1800(3) structure can be used as the trading range for M-T. S-T Resistances: 1800 1790-94 1785 Market Price: 1781 S-T Supports: 1780 1775-73 1770 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 18/08Gold cleared the 1770 support yesterday. The day began at 1775. The price first touched the day-high at 1782 during the Asian trading and eased toward 1770 after that. It dropped below 1770(2) at the US session, touching the day-low near 1759, with the day ending at 1861. An S-T downtrend channel(2) has formed on the 1-hour chart in the past 48 hours. After the price broke the support at 1770, the trend remained bearish, with the downside target pointing at 1750. The price touched our 1st target at 1758(3) yesterday. As the price went below the 20 days MA, the consolidation period has yet to end; the next downside target is now at 1755(4). S-T Resistances: 1775-73 1770 1765 Market price: 1762 S-T Supports: 1759-60 1755 1750 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 18/08Gold cleared the 1770 support yesterday. The day began at 1775. The price first touched the day-high at 1782 during the Asian trading and eased toward 1770 after that. It dropped below 1770(2) at the US session, touching the day-low near 1759, with the day ending at 1861. An S-T downtrend channel(2) has formed on the 1-hour chart in the past 48 hours. After the price broke the support at 1770, the trend remained bearish, with the downside target pointing at 1750. The price touched our 1st target at 1758(3) yesterday. As the price went below the 20 days MA, the consolidation period has yet to end; the next downside target is now at 1755(4). S-T Resistances: 1775-73 1770 1765 Market price: 1762 S-T Supports: 1759-60 1755 1750 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 17/08Gold stayed in a tight range yesterday. The day began at 1778; throughout the trading day, the price traded between 1770-75 after it touched the day-high early in the Asian session. The market was quiet, with the day ending at 1775. The bearish move slowed down yesterday, and the price now supports at 1770-73. Await for the Fed. Minutes, expect the price to remain in the 1770-85 tight range today. Gold is now settling below the 1780-87 resistance zone. The trend stays bearish for now, with the downside target remaining at 1758(4) & the 20-day MA(5). S-T Resistances: 1790-94 1785 1780 Market price: 1775 S-T Supports: 1775-73 1770 1765 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
2
Gold Trend 11/08Gold was once again rejected by 1800 yesterday. The day began at 1794; the price has consolidation toward the day-low near 1794 before the buying picked up again. The price has reached the day-high near 1807 after the US released its inflation figures, however, buying failed to carry on. The day eventually ended at 1791, down slightly by USD 3. The upward momentum has slowed down in the past 48 hours, and the resistance above 1800 is still relatively strong. Early in the Asian session today, gold left the uptrend channel(1) in the 1-hour chart, officially ending the uptrend that originated on July 21st from 1680. Until the next trend is formed, expect the price to trade in the 1773-1800 range-bound. Meanwhile, gold has escaped the daily chart's downtrend channel(5). Entering a period of range-bound or consolidation, the buying around 1780-87 still supports the market. In the next two trading days, it will be the first sign of the price turning downward if the price close below 1780 on the daily chart. S-T Resistances: 1800 1795 1790 Market price: 1789 S-T Supports: 1780 1770-73 1765 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 09/08 - 12/08Gold rebounded USD 14 yesterday. Back from the weekend, the market opened at 1774, and the price has traded mainly between 1770-80 throughout the Asian & European sessions. As the trading hours approached the US session, the price cleared the resistance at 1780 and jumped to the day-high at 1790. The day ended at 1788. In the 1-hour chart, gold is still maintaining its path within the uptrend channel(1); however, the buying above 1790 has been weak since the US employment figures last Fri. An S-T resistance line(2) has formed in the past 24 hours; if the price clears the selling resistance from the line, the price should be able to reach 1800. On the other hand, if the price fails to stand above 1790 in the next 24 hours, gold may naturally escape the current uptrend channel, triggering a round of consolidation. The rally yesterday has led gold to test the resistance of the downtrend channel(3) again, continued to tangle by the 1780-87 resistance zone. Notice that if the price stays above 1780, it will escape the downtrend channel(3), ending the bearish trend. S-T Resistances: 1800 1795 1790 Market price: 1785 S-T Supports: 1780 1770-73 1765 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 04/08Gold traded in a range-bound yesterday. The price touched the low at 1754 early in the Asian session, and the climb continued until the price reached the day-high at 1772 at the US session opening. The day fluctuated in a USD 18 range , with the price slightly up by USD5. The overall structure in the 1-hour chart hasn't changed much as the uptrend channel is still dominating the S-T trend. The price behaved quite well within the 1750-72 range yesterday. The market is now shifting its focus toward the US employment figures , expecting the price to remain range-bound between 1755-80. The reversal signal mentioned yesterday remains in effect. Unless the price closes above 1773 in the next few trading days, the price should turn south soon. S-T Resistances: 1785-87 1780 1770-73 Market price: 1770 S-T Supports: 1765 1760 1755 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P.To
TVC:GOLD
by 1uptick
Gold Trend 02/08 - 05/08Gold rallied to a 2-week high yesterday. Back from the weekend, the market opened at 1765; once the price touched the day-low at 1758 during the Asian session, buying began. Gold touched the day-high at 1775 at the opening of the US session, with the day ending at 1771, up by USD 6. Although gold has reached a new 4-week high at 1780(1) early in the Asian session today, buying seems to have slowed down above 1770 on the 1-hour chart. The uptrend channel(2) is still valid. A consolidation may begin after the price got rejected by 1780. A new round of selling toward 1754(3) will start if the price clears the S-T support at 1770-73. 1780-87(4) is a critical resistance zone on the daiy chart. If the buying momentum fails to carry on today, expect the price to consolidate between 1755-80 in the next 1-2 trading days. S-T Resistances: 1785-87 1780 1776 Market price: 1774 S-T Supprots: 1770 1765 1760 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 03/08Gold eased off from the new high yesterday. Affected by Chins-U.S. tension in the past 24 hours, the price was bounded by the 1770-80 range early in the Asian session yesterday. Gold touched a new high at 1788 at the U.S. session and pulled back before the day's end. The market eventually closed at the day-low 1760, down by USD 11. As mentioned yesterday, the buying above 1780(1) has been weak. Althought the uptrend channel(2) is still dominating the trend on the 1-hour chart, gold is due to an S-T consolidation for the moment. As the price cleared the 1770-73 support, it reached our target of 1755 early in the Asian session today. 1770-73 becomes a critical resistance now; expect the price to trade between 1750-72 in the next 24-48 hours. Gold was rejected by the 1780-87(4) resistance zone; the pullback before the day's end yesterday has created a reversal signal(5) on the daily chart. The previous horizontal range(6) is still valid; the downside support can be set at the 10 days MA. S-T Resistances: 1785-87 1780 1770-73 Market price: 1767 S-T Supports: 1765 1760 1755 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick