Short

Updated

I am Short XAU USD...Why? See charts below..

XAU USD is very weak on the important Weekly timeframe.

There are also Double Tops on multiple timeframes. Recently on the 2m chart the MTOP formation was breached.

Look for a retracement back above the neckline and look for an easy short.

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Neckline breached & bearish pinbars on 2m. Hightimeframes showing temporary weakness.

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I GOT THE HEADLINE wrong!!!

This is XAU AUD (Short)
XAU USD is very bullish today... we are Long

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XAU USD: Buy on this deep retracement back under 2500. This is going up again.

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LONG XAU USD

The bearishness on the 2m timeframe relating to a HnS's has been invalidated. The right shoulder is now taken out. Up we go.

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Long Gold:

XAU USD Fib Confirmation & EMA 50 support 1HR timeframe. Key level for gold.

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Blue (dark) is the 50 ema
Blue (light) is the 20 ema

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I made mention of this in another thread today. Why Gold will find support again today. USDX is under pressure on the lower timeframes. See chart. Cheers

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101.25 is a probable scenario soon for the USDX. Supportive of Gold today.

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Further bearishness in XAU AUD... Weekly Double Top & Daily..

Long XAU USD so far (pending economic data at 10am Eastern USA Canada - Home Sales). I see where Building Permits (just read it now) is supportive of the USD today but the technicals on the chart for the USDX are not in the short term.

See middle Daily chart... It has not wound back to the 50 Fib re-tracement yet.

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RE XAU USD (they said I only get 20 comments a day.... r they serious @ TV)
I wanted to say 2497 is a key area of support the 1hr 20ema.

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We have the 5m and 15m stochastic getting into position soon pushing up soon....that will help give us a bump

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See the opening bullish green candle here on the 15 & the almost perfect 38.2% fib level. Fear of missing out hey.... Gotta be an easier way to make a buck.. But I love trading...

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See this confluence occurred between the 1hr stochastic and 1hr RSI and then later the cross up in the MacD. Divergence bullish as well from the stochastic. This occurred just after trading commenced yesterday. Who had the guts to buy and hold then? Not me that is for sure..

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We now have A top3 on the 1m. They are usually less stressful to get past like the Top2. Price should march upwards soon.

*Trading is risky. Don't rely solely on my financial advice.

Cheers,
Chris

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The USDX is about to break the DEC 28 2023 low. But its very oversold. It will be interesting for Gold next week and if the $ rallies it may keep the gold price away from all time yearly highs.

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Still long but a close of a 15m candle below neck would be a short. Wait for candle to close below (must be the bottom of body NOT wick)

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2505

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I am. still Long Gold:
A 15m candle needs to close with the bottom of body hanging below 2505 (not the wick). They come down here the grubs to take out stops and scare people. A bullish W-bottom will now form. I can't guarantee price will hold.

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IF the lower body of a 15 candle sits below the neck at about 2505. I will liquidate my weakest long positions and go aggressively short. But that is just me.

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Agaiin the candle must close first.

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