Hi guys,
Gold continues to trade within the ascending channel of the 4-hour chart. XAU/USD has been consolidating since the end of last week as prices struggled clearing the 1800 – 1808 inflection zone. A breakout under the channel exposes the 100-period SMA, which could pivot prices back higher. Clearing the inflection zone exposes the September high at 1834.
Short term
Entry: 1790
TP1: 1810
TP2: 1830
SL: 1780
Once we hit supply, I believe this to be a good entry for a sell.
Good luck!
Gold continues to trade within the ascending channel of the 4-hour chart. XAU/USD has been consolidating since the end of last week as prices struggled clearing the 1800 – 1808 inflection zone. A breakout under the channel exposes the 100-period SMA, which could pivot prices back higher. Clearing the inflection zone exposes the September high at 1834.
Short term
Entry: 1790
TP1: 1810
TP2: 1830
SL: 1780
Once we hit supply, I believe this to be a good entry for a sell.
Good luck!
Trade active
I believe that despite recent excitement we will continue to rise throughout November and December as feds start to taper.I will post some more charts in the near future providing more specific possibilities.
Trade active
Maybe a little later that shown, but supply has been reached. Whilst there might be some more up movement this week, prepare for short.Note
Supply broken, hold off on selling.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.