we are adding position size to our existing net short portfolio and at the time of writing this ariticle/idea our full short position in gold and silver is well justified from the measurement of risk and reward,
The usd index end up moving higher yesterday and the price of gold fell a little bit,this should be seen as sign of strength but mining stocks are...
If the Ascending channel is broken down, Xauusd can go down to 1313 levels.
Once the price rebounds at 1328 level and breaks the channel on the upside, Target is 1361 levels.
(for Educational purpose).
the day chart of xau contract is shown, a recent candle shows attempt to take support at lower levels, charts are sideways at the moment with some decent bullish possiblities , bullishnes will show in this order
1 the price on day chart should move above the blue falling trend line
2 the horizontal red line marks the first resistance on the upside
the resistance...
abcd pattern failed with reversal from 0.886 level, together with rsi divergence on the back of a double top , the long term and shoer term levels of 0.382AB and 0.618 from the longer term fibo retracement, logics my short...
Gold (XAUUSD) trade setup is emerging at the moment. Let us give it some more time to make a clear formation.
Watch this space for upcoming trade setup
After reacting on its way up now gold is readying it self for clearing big resistance of 1400.
Break above current flag formation will take it to 1400.
Gold (XAUUSD) trade setup (Follow this post for entry & exit)
Will be updating the post based on how gold behaves at the channel top OR at the trend line support
Keep watching this space for the entry, targets and SL
After breaking through the prev high at 1357, Gold is the cusp of a IH&S formation/ It may struggle here for some time but if it breaks (in conjunction with a fall in USD) then a target of 1700 will open up.
If one has to choose one asset class for the year 2018, this has to be it. An underfperformer from the equity markets for the past few years. Gold is poised to breakthrough & outperform the equity markets in 2018.
#gold #XAUSD
