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So, where is gold headed?
Okay so, this week gold has given us a move to the 1960 region but failed to break above it.
Now immediate resistance has been made in the 1964-1966 region.
How will we approach this situation?
If this structure breaks and the resistance turn to support then on the retest we will be looking for price action in 4hr. timeframe as we...
Okay, so what kind of situation we are having on gold?
We have a break above 1950 region which was an important resistance which is now turned support. Before this market was consolidating in the region of 1910-1950
Now, how we will approach this situation?
We have a break of structure on daily we will be looking for long position on the retest of the support...
GOLD BREAKS RESISTANCE AND NOW ITS WORKING AS SUPPORT SO POTENTIALLY GOLD CAN REACH OUR NEXT RESISTANCE POINT and CUP HANDLE PATTER RESISTANCE POINT TOO that IS 1732 level WHICH ALSO HAS OUR SELLING ZONES IF IT FAILS AT POINT AND DROPS AGAIN SO I ALREADY GAVE IDEA OF OUR SHORT ENTRIES AND IF IT KEEPS SHOOTING UP AND BREAKS OUR RESISTANCE WE GOING FOR LONG AFTER A...
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...
Yesterday, gold prices retraced back to 1740 region. Now, as we said earlier that anyone who took a short according to previous analysis then it's a good time to take profit here.
As gold is a highly bullish pair for now. We might have to see the market reaction at these two points that if it hovers over this 1730-1740 area for some time and our strategy...
Okay so, on Friday we have seen day closing at 1741 with 1751 high. We can see that resistance is provided at 1750 level and is expected too as this region holds multiyear resistance.
So, we have taken a short here as we said in our last analysis on gold. But, on the other hand we need to keep in mind that gold is highly bullish and a little overstretched towards...
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 !!!
Okay, so gold has been confined in the triangle for almost 1 month. It constantly made lower
highs and higher lows!!! And 1670-1685 region holds some strong support as price tested this region so many times but always made recovery from there. Also, 1610-1615 region is tested too many times also.
It is clear that if this triangle breaks above then first...
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.
Okay, so, last week we have seen a beautiful rebound from 1671 levels which will be acting as strong support. On the other hand, gains are still capped till 1740 as this level is tested approximately 4 times in the daily chart. So, it is clearly showing strong resistance at 1740. If this level breaks, bulls will face immediate resistance at 1667, but it may get...
As we can see that at the beginning of this week XAUUSD was going down but it clearly got a strong support at 1700 level and we are getting this short triangle nearly ending and its showing upward potential, and if this happens as we thought then after breaking and stabilizing above 1740 levels will give a bull run towards 1800 levels. So, it's a great buying...
After Friday's doji prices are falling but got a good support at 1705.
Prices may take a downway to 1678 approx. which holds a strong support, if broke this then we may be seeing 1640 levels or may be all the way back to 1600 AGAIN!!!! but this have low chances due to the bullish pattern. So, 1670-1680 will be a good place to buy gold again with a target of...