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Xauusdsell

ANOTHER RALLY IS ABOUT TO BEGIN SOON!!!!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 satisfies, then we can take a long from here. And if prices break from here then we will long again from 1710-1717 region. IN BOTH TRADES TP WILL BE OF REGION 1760-1780. Just, wait for an upper breakout either from 1740-1730 region or from 17010-1717 region and we are good to go long.. :) Follow our new facebook page here - @forexng70 Your support will motivate us!!! STAY TUNED!!!
FX_IDC:XAUUSDLong
by ng_forex
PULLBACK COMING IN XAUUSD!!!!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 upwards. This trend will continue but this pullback will be needed to attract more buyers. According to me, buyers must enter at 1700-1711 levels as there is the support of the trendline, and if price breaks from here then buyers might look to enter at 1670 levels approx. But prices are more likely to rebound from 1711. So, we have to take profit at 1711 range or at least moe stop loss to secure some profit. There are fewer chances that prices go below that level this time. This may be the situation in gold at this time. I hope you like this analysis of GOLD!!! :)
FX_IDC:XAUUSDShort
by ng_forex
XAUUSD - Can we enter in a trade ?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 resistance will be provided at 1720 and it's also possible that market may remain stable at this point for sometime before breaking above or lower. Also, we are stuck in the 1740-1670 range too. So, if 1720 breaks and 1740 breaks too then we may see a movement of about 40-50 USD upward and if prices breaches 1670 then we may see 40-50 USD movement downwards. However, we are still more biased towards upward breakout because GOLD is still in bullish territory a little stretched upward but as I said earlier " GOLD is HIGHLY BULLISH!!!!". But we will not get into any swing trade till we get a breakout. Also, there may be a breakout upward and prices may hover at 1720 for sometime. If, prices breaks above 1720 and gets stable then only we can go long because 1720 is strong resistance too. Till, then we will KEEP CALM AND TRADE OTHER CURRENCIES... :) If you like this analysis then drop a like and comment what do you think about gold? FOLLOW ME FOR MORE UPDATES ON XAUUSD :)
FX_IDC:XAUUSD
by ng_forex