As you see on the chart H4 above, i have two big profits on last three days with amazing wave 3, this pair still bearish projection, but will be rebound for a moment...
on daily and weekly gold look like to continue to sell bear this mind this is not the trade setup first wait for price action to confirm us market direction i better suggest to sell it on the break of structure for aggressive entry look for entry box which i mentioned on chart if you like my idea don't forget to like it :) good luck see u guys soon.
The price bounces from the support zone between 1285.00 and 1280.00 levels. The reversal candlestick pattern and RSI confirm this price reversal. MACD histogram supports a possible upward movement. DMI is bearish with ADX line moving upward. It tells us about the strength of sellers. The market can make one more attempt to break the support zone and move lower....
CUP AND HANDLE DAILY CHART We are currently in the handle - WAIT FOR BREAKOUT - WAIT FOR RETEST - EXECUTE WITH CONFRIMATION
Open SELL order 1287.3 SL 1291.2 TP 1277 RRR - 1:2.62 Interesting sell situation. Lets catch profit :)
XAUUSD is approaching our first support at 1283.93 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1300.42 (61.8% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic is also approaching support where we might see a corresponding bounce in price....
XAUUSD is approaching our first support at 1283.93 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1300.42 (61.8% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic is also approaching support where we might see a corresponding bounce in price....
We have a very strong support which still holds. A break down will start a new trend. I personally placed a buy limit at 1284. Previously there was another touch back at the same level. Support area is very strong and we can safely place very thin SL. Good luck everybody!
We can see that XAUUSD is overall in a bearish trend at the moment after a few days of downwards movement but we are expecting to have a slight pullback before price carries on making moves to the downside, this pullback is currently happening at the moment and we are expecting a further bullish move of around 40-50 pips before price carries on going down. Now...
XAUUSD is approaching our first support at 1283.93 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur to our first resistance at 1300.42 (61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high...
People trade based on fractals and ratios. So, why not trade based on symmetry? Though, I suppose the chart technically suggests a combination of symmetry and repetition.
As you see on the chart above, this commodity will be break, down or up, wait and see...
Overview for GOLD - Price took an unexpected Decline last week, after a great start to the week, I feel we have a good chance to test the weekly lows before i can consider taking longs again. I have outlined my areas of value and will be interested in shorts round here. USDJPY is strong at the minute also, some correlation to think about!
- Gold has just broken below a bearish flag pattern - Bearish divergence on the stochastics - Bearish intraday bias Target next support.
GOLD (April 12, 2019) Today idea for LONG. Target 1305 for today/friday --- Buy - $1294.00 Take Profit - $1305.00 Stop Loss - $1288.00 ------ Take Profit = +0.85% Stop Loss = -0.46%
We are expecting to see a retest of this resistance level after a bearish day yesterday before price makes more bearish movement and reaches or support zone ( green box ) before market close. I wouldn't go jumping into a short position before we get the re test of this level as the markets seem to be all over the place at the moment, and always trade with correct...
IMLTV FOR THE BREAKDOWN!