Trading suggestion:
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as...
Hello everyone, Little bit on gold, we have seen bearish movement in gold. trading lower low from consecutively five days. A week ago it was trading near to its neckline and slightly went up a bit. It has given Head and Shoulders breakout on 16th and still trading below the neckline. Further downside movement is expected in it.
Open to discuss here.
we believe...
Gold is in a tricky spot now. A solid reversal has formed on one side, while it can be construed as a continuation pattern, as well.
On hindsight, it might look as a simple head and shoulder pattern which can give a bearish breakout.
But, if you look closely, it is currently in a Elliott wave formation and it is currently going through a correction in the form of...
The yellow made use of the uncertainty surrounding the EUR,USD and GBP and made a significant up move.
It is currently consolidating for a move towards the trendline.
We expect the trendline to lend support for another leg of up move.
The next resistance is placed at 1312.487 and traders can expect a swift upswing.
The bullion metal is in a rising ascending channel formation against the US dollar, in the short-term charts.
As of now, it is at its supportive trendline, which we expect to hold.
Hence traders can hop in and expect a rally up to the resistive trendline.
The bullion metal is an ascending channel formation in the 4-hour chart.
It faced rejection at the resistive trendline and formed three back to back bearish candles.
Hence we expect the counter to remain bearish and the pair to recede to the supportive trendline.
Wake up People , I see so many have a very conflict views , reality is completely different , Gold will move up to all time high and it will not stop ,
Usually Commodity scrips move very fast once they move out form consolidation Zone , i am looking this could be the end of 3 year consolidation and this one trade can make you " Millionaire "
Trust me , Go...
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