Gold (XAUUSD) monthly chart study - Whats your conclusion? I am interested to know what conclusion you deduce from this study. Please feel free to share your thoughts and observations based on this monthly chart study Regards, tRex
Last week , it ends up with the sideways movement , and it passed up over resistance line, If that resistance line turn into support .. then the Gold going to see the new high during this week. Analysis made based on pure price action.. not fundamentals
near about 200 day moving average and trend is bearish. So short at 1560 till 1545
XAUUSD has made a long term correction which now seems to be complete on the upside and a decline is inevitable which would break the previous lows and go towards 900 for the target. This would take several months or a year to play out.. Happy Trading!
While the stock markets gripped every attention, gold slipped quietly down after creating new 52 weeks high. Formidable selling was witnessed in Gold too this week. It closed below all the important short term trend lines. The RSI was displaying a divergence, which indicates a loss of momentum. Now trading just at minor support $1529 levels. Below this $1415 &...
Gold is favored to have ended the cycle up from 8/16/2018 lows where the daily right side is up. The 4 hour is turning down against the 2/24/20 highs at 1689. While below there the metal can continue lower to correct the cycle up from the 8/16/18 lows.
Price broke 1.1110 level support level, It will continue to fall in the future. Investors are advised to remain short, TP1 1.0950 TP2 1.0870 Follow Me ! Make More Money! --------------------------- 2019.08.01 in
Gold as been on a bullish trend for weeks, Price found its way to the 61.8% fibonacci zone, this is clearly a retracement for new coming highs, I expect Gold to reach new highs in the coming future(1700) but for this trade i would be looking at a 1;1 risk to reward ratio first which would be at 1685. The trend is your friend, trying to short at this level isn't...
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. The 4 hour right side is up against the 1/14/20 lows at 1535. While above 1547 where the hourly right side is up the metal can see strength continue toward the 1670-1700 area before it corrects the cycle from the 1/14/20 lows.
XAUUSD Weekly ... trade at strong res point between 1682 -1688$ Might be good down fall will come from this level for 1648 -1611 -1578 - 1534 and more REGARD ... just my view for leaning
1642 is a good support for Gold too, use it as stop for long positions and if broken, shorts can be initiated for an immediate target of 1631 followed by 1619. 1650 can be used as stop. 1642's rupee equivalent would be 42300-350 level. Fresh longs only when (and if) 1650 is exceeded decisively.
Pivot: 1573.00 Most Likely Scenario: short positions below 1573.00 with targets at 1564.00 & 1560.00 in extension. Alternative scenario: above 1573.00 look for further upside with 1577.00 & 1580.00 as targets. Comment: the RSI advocates for further decline.
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 ended a wave B at 1593 where the hourly is turning down to correct the cycle from the 1611 highs. While...