Okay, so what kind of situation do we have in gold here.
Recently, it touched a multi-year high and now retracing back which was fully expected. Now, what must be our plan to take a position in gold. What we might do?
It is clear that NFP will increase volatility today and we may get a retracement back to 1750 region. Yet another point to be noted is that GOLD...
Past week GOLD showed bullish nature which is still intact no doubt :)
But, it might be forming a head and shoulders pattern in daily chart and on 4-hour chart both are pointing to bullish nature ahead.
According to daily chart, GOLD must retest the 1715-1720 region. But there are high chances that it may rebound from this point too as this region holds support...
Okay, so it's been some days since our last analysis. We have been waiting for this opportunity on XAUUSD :)
GOLD got resistance around 1780 region and now we are expecting a retracement towards 1720 region and have to see price action in that region. So, this is a great opportunity to capitalize for sellers.
So, for now buyers have to take a break till 1720...
Okay so, we have been looking for a long entry in gold!!!
Here's a great opportunity again to buy gold we have to see the market reaction in this bubble region shown on the chart. if market breaks the trend of downside then we will be taking a long for a target of 1735 as an initial target.
So, keep this on your watchlist and let's see if there's gonna be a...
Alright so, what kind of situation we have in gold for the coming week??
If we see Friday's closing it closed pretty high at 1735 level. So, for the coming week 1725-1735 region will serve as a strong buying region and if prices test 1717 levels then it is a must-buy don't miss that great buying opportunity.
While on the other hand 1765-1773 region will serve as...
We have been bullish on gold lately. This time we have reached out take profit zone also strong resistance will be provided here.
So, if you have a long position open then take your profit here and we can take a short from here to 1700-1710 level as our take profit.
This is the whole idea for now.
STAY UPDATED !!!
The triangle pattern is broken in gold and we are now looking towards 1740 target.
It's a great buy opportunity. We have been waiting for this triangle to break this whole time. It happened today. :)
After 1740 immediate resistance will be provided at 1760.