Spot GOLD long term ViewSpot gold is currently trading in upper sloping channel.
Also there is very important trendline resistance at $1847 which also coincides with 61.8 retracement.
Hence spot Gold can be extremely bullish on a break of $1847
Spotgold
SPOT GOLD OUTLOOKSPOT GOLD TRADE IN SELL ZONE,
BUY ONLY TRADE ABOVE 1400 FOR THE TARGET 1408 AND 1416
ELSE
SELL ON EVERY RISE FOR THE TARGET 1385 AND 1378
XAUUSD Another Bear PressureIts highly expected Spot Gold ( OANDA:XAUUSD ) to go further down. We can trade this as normal with 1:3. GOOD LUCK. Always maintain your risk as Shorting Gold is always kinda a risk.
Inverse H&S on Spot Gold HourlyIt has been observed that an inverse Head & Shoulder pattern has emerged on the Spot Gold hourly chart with a retrace back to the neckline which has held well.
Long Entry : 1219.63
Target : 1258
Stop : 1198.92
Bullish Cypher on XAUUSD hourlyA little late in posting this one, but nevertheless, a Bullish Cypher Pattern has emerged on the XAUUSD 1 hour chart.
A long can be initiated if the price retraces back to 1185.73 or can be longed at current market price if your R:R Allows for it.
Target: 1198.57
Stop 1175.86
