Analysis -XAUJPY looking bullish after showing signs of a reversal. Sellers pushed price down into support but the following day, buyers bid up the price to back above support before the second daily candle close. -The 2 candle price action resulted in a bullish engulfing setup AT SUPPORT which is a bullish sign. -The third day (after daily bullish engulfing...
Hello traders! Today we take a look at XAGUSD // Silver within the forex markets. Currently price has shown us a strong rebound off of our Weekly EQ level forming a Demand Pivot on HTFs. I would like to see price re-test our Supply area for a rejection @ our EQ at 15.980 to pave the path towards new lows towards our EQ level and thus wiping out liquidity where...
After Fridays bullish run pushed price through the roof because of worse than expected NFP results and the weakening stock market and US economy we can see price smashing rite through our next possible resistance of 1304.301 and making a run up to our green zone. Its because of the panic in the US economy,US30 and stock market that buyers rushed to gold as a safe...
Watching gold this upcoming week for a continuation of the new downtrend as price has made a pullback setting a lower high nearing strong structure at the 1303.5 region. Price also approaching the descending trend line where a 3rd rebound could cause a powerful move to set a new lower low.
Our green zone is a lovely turning point for gold, we have had a lovely bearish run that will come to an end around our zone, we can see that price has just slowed down the last couple of days with smaller candles, this also indicates a slow down in sellers with buyers ready to take over. We are waiting for a good entry before we let you all know, so get ready...
LETS SEE WHAT THE YELLOW METAL DOES -DUMP OR PUMP?
Simple trade- support line from November that has been tested on multiple occasions coming back into play at these levels. Additionally pair looking oversold on short term basis post better than expected US GDP data. Looking for a retest of 1350 area into mid March
Gold broke trendline, will continue to drop down to support at 1304.00 hopefully. THIS IS NOT A TRADING CALL, ONLY AN IDEA
Fundamental Points: 1. Political Turmoil Around the World and Uncertainty in Markets 2. US - China Trade War 3. Brexit 4. S&P Weakness Signs 5. Next US Election and the list goes on and on, Gold could be a major safe haven in the coming days.
Formed a large shooting star on the weekly last week, then followed by this weekly closure of an exceedingly large bearish engulfing. Monthly February closure also formed a shooting star, touching the monthly descending trend line, forming our next lower high, but however, we are forming this symmetrical triangle, so we are making higher lows on the monthly. First...
Bat didn't work out very well, didn't it? Now we have big big big red candle ripping through previous supply level. Well, is it the end for Gold? I don't think so. We can see clear wave structure forming from the very bottom and it seems as though we are in potential wave IV. Hence, here's our trading plan! We will wait patiently for 1287-1293 area....
BUY & SELL Above Given Chart or You Can Also set Own Risk reward. Let see what Will be Next Move. Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only. Thank You !!
Orange arrow show where this key level has been used as support and purple arrow shows resistance, we can see price is nearly at this level so we will be waiting for a break or bounce before jumping in this trade again as we had a loss on it yesterday... YES WE HAD A LOSS... WE ARE HUMAN ;p But our view is that it will bounce and make some movement to the upside...
The gold price is listening to the simple moving averages of the hourly chart. Namely, the 200-hour SMA is providing support and keeping the rate from falling lower. In the meantime the 55 and 100-hour SMAs are providing resistance. In general, the commodity price should get squeezed in between the simple moving averages. The 200-hour SMA will push higher...
Looking for Gold to complete this bat, I'd like to see a bounce at initial completion, then I believe we'll have one more drop to test this weekly support before we make another run at $1350. If we get that, look for buying opportunities all the way up because this will probably be the final thrust from the bulls for a good month! The Bullish trendline is daily...