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XAUUSD IDEAOkay, 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 cleared easily if 1740 is broken and 1800 levels may be seen soon. Still, there is a strong confluence of indicators at 1707. So, if 1707 breaks easily, then it will be a great long opportunity as then 1740 level may test once again. WHICH WILL BE A GREAT OPPORTUNITY FOR US. WE ARE STILL BULLISH ON GOLD. SO, IF YOU DON'T WANT TO TAKE LONG POSITION THEN MUST NOT TAKE SHORT ALSO, BECAUSE IT'S STILL HIGHLY HIGHLY BULLISH!!!! EITHER GO LONG OR BE NEUTRAL TILL 1740 BREAKS. FOR LONGTERM TRADERS, JUST BUY AND TAKE PROFIT AT 1800. THIS MONTH, GOLD MAY REACH THIS TARGET.
FX_IDC:XAUUSDLong
by ng_forex
BUY XAUUSDAs 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 opportunity for long term traders with almost 100 USD to bag. It's a great opportunity, so go for it!!! BUY IT NOW!!!!! FOR GREAT SWING. :)
FX_IDC:XAUUSDLong
by ng_forex
XAUUSD What's happening?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 1740. AND IF WE SEE A BULLISH CANDLE TODAY OR IN THIS WEEK WITH 1706 SUPPORT HOLDING. THEN THERE ARE HIGH CHANCES THAT IT WILL BE THE REVERSAL AND END OF THIS SHORT TERM BEARISH TREND. THEN ALSO 1740 TARGET WILL HOLD AND BREAKING OF 1740 WILL LEAD TO 1760 (THIS WILL HAPPEN SOON OR LATER!). FInally, stay in buy for gold for now if have any open positions let then running, It will move up definitely within a week or two or maybe this weeks end (most probably from Thursday if today's closing come below 1713). SO, be neutral in gold now. (DAY PERSPECTIVE) AND MACD GIVING SELL SIGNAL SO CAN TAKE A SHORT SELL FOR 1670 TARGET
FX_IDC:XAUUSD
by ng_forex
Gold | Descending Triangle - Short below 1400Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted levels. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
TVC:GOLD
by AkhilSuryaFS
3
GOLD Short Term Analysis - Bearish Trend Gold pair moved higher but still remained in trading range after holding support level on Tuesday.Stronger than expected US home sales buoyed the dollar, which continued to move higher on Wednesday. As technically the Gold trading in the range of 1260 to 1285.00,Prices appear to be forming a bear flag pattern after breaking down last week below support near the 1,284 level. Short term near resistance level 1282 and another upward sloping trend line 1284. We can see one more fall from 1280 to 1284 to test 1260/1250. Short @ 1281 TGT: 1270/1262 SL: 1286.00 Gud luck !
FOREXCOM:XAUUSDShort
by Forextuitions
Ignored us now face the consequences In short our additional full net short size in both of our precious metals is well justified from the reward and risk perspective at the time of writing this article/idea In our previous post we already mentioned many times that friday's session can be volatile and very tricky to predict and could affect gold and silver prices in short term and that seems to be the case for silver,The white metal declined at the start of the session but quickly erased all the downswing from it's initial low,we already mentioned that white metal could reach to about 16.600 and this level has already reached but the real question is silver about take a big decline same as in lat dec 2017? yes,that's very probable but here is a twist decline may not start immediately it can take some days to start,if you try to look at the lack of a visible rally in friday and compare it with proximity of the triangle apex reversal you will get your answer,in short we still may see a small rally in white metal in about 3-4 days before it plunges back we were and still are in a situation where white metal metal could decline sharply immediately or it could go up just a bit and then decline anyway.we don't think waiting for better prices in gold and silver will be an informed decision ,That's why we decided to increase our net short size in our portfolio management. in our last post we wrote which is still up to date In friday's intrday follow up,silver moved higher than its target level but gold didn't,it served a strong bearish sign as it was clear that silver is outperforming gold in a dramatic manner in short term,most of the time it helps to make big decline in white metal. session seems very similar to the mentioned nov 1 2017 session and implications therfore are bearish anyway mining stocks reversal-gold mining stocks moved much lower after the closing bell,thing to note is despite the rally and strength in S&P 500 It moved lower,really miners only had the strength for the intial rally,Before the closing bell bears had took control over the miners and bulls were exhausted, It's not happen very often when HUI index,miners and precious metals all generating the same signal,in short if you try to look at mining stock and precious metals it seems very likely that we are going to see big decline soon,only currency market is not cofirming our view at this point so it might postpone the decline for short term. Imagine the gold without usd you can't na? so let's jump right into our usd index the biggest factor which determines the prices of precious metals in near term,in our previous post we told that USD index was above its strong support level and big picture is remained bullish,USD index didn't even touched its support level but instead it moved higher,so did usd index already made its final bottom? Still as a portfolio manager/ trader we try to think without being attached to our current position so we could form a unbiased perspective on precious metal market what could go wrong-Breakdown below the 89.300 level will complete a short term head and shoulders pattern and this pushes prices down to feb low,it will means that 87.600 will be the next target but is it possible? in trading anything can but the probability is much-much lower as the multiple long term resistance level are present around the jan and feb low,on a short term head and shoulders pattern and this pushes prices down to feb low,on a short term basis a move below 89.300 can precide a quick decline to about 88.70,well this is a less likely outcome,the most probable outcome will be that we could see a rally above 91.20 which will precides a big rally to almost 94,this will be a very critical sign that small breakdown is invalidated below the very long term declining resistance overall our full net short position is justified at the time of publishing this article
FX_IDC:XAGUSDShort
by NeerajPandey