Gold prices rallied post higher lows formed at $1196.00 levels earlier. Please note that the metal found support at a convergence of fibonacci 0.618 and trend line support earlier. Furthermore, the subsequent rally has taken out interim resistance around $1212 levels, keeping bulls in control. The metal could retrace lower from here before resuming its potential...
XAUUSD is approaching our first support at 1212.03 (horizontal swing low support, 23.6% Fibonacci retracement where a strong bounce might occur below this level pushing price up to our major resistance at 1233.42 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is also approaching support where we...
Gold has completed 7 years since its 2011 all time high having established strong bearish bias over the last 5 years as it has repeatedly failed to cross above the 1,400 level. This study compares Gold's 1980 2001 super bear cycle with the current bearish monthly candly sequence since the 2011 all time high. If we harmonize both cycles' time scales we see they...
Finally, Gold bulls seem to be in control after producing a complex corrective drop since $1245 levels earlier. The yellow metal has managed to take out initial resistance at $1212 levels and print a higher high around $1215/16 levels as seen here on the charts. The metal is seen to be trading around $1209 levels at this point in writing and could continue...
XAUUSD is approaching its resistance at 1212.28 (61.8% Fibonacci extension, 38.2% Fibonacci retracement x3, horizontal overlap resistance) where it could potentially reverse down to its support at 1198.37 (76.4% Fibonacci retracement, horizontal swing low support). Stochastic (34 5, 3) is approaching its resistance at 91% where a corresponding reversal could occur.
interesting spots for profits: 1) from 1238 to 1248 or 2) from 1182 to 1168 Please note that I am not a professional trader and these are my personal ideas only. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** Thank you for following and for sharing your ideas. Disclaimer: The information...
Gold has tested its counter trend line support at $1196/97 levels yesterday before bouncing back. The yellow metal is see to be trading around $1202 levels at this point in writing, expected to continue pushing higher again. As discussed yesterday, the bounce is still within the convergence support zone of trend line and fibonacci 0.618 as seen here. Furthermore,...
XAUUSD bounced nicely off its support at 1193.9 (61.8% Fibonacci extension , 61.8% & 76.4% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 1212.6 (38.2% Fibonacci retracement , horizontal pullback resistance). Stochastic (89, 5, 3) is bounced off its support at 1.8% where a corresponding rise could occur.
XAU USD IS TO FORM THE PATTERN THAT I EXPECTED in arriving at my shopping area it will be nice to wait regards
Based on price action in the weekly chart and DXY possibly edging higher to 100, it might still take more time before gold recovers. Most likely it will continue to go sideways. Entering sell stop order few pips below @1200 to continue riding bearish momentum of XAUUSD and take advantage of stronger dollar, with TP between @1180 - 1185, and SL near its recent...
The $h chart view for Gold is suggesting that bulls might still remain in control, even though prices dropped as low as $1200 levels yesterday. Please note that the yellow metal is finding support around fibonacci 0.618 of the rally between $1182.00 through $1245.00 levels respectively. Furthermore, the counter trend support trend line is also seen to be passing...
1212.748 mirror level and strong sales area 1211.153-1214.410 Push like and Subscribe, if this post will get 30 like I will write when I open a position with entry and exit points.
Gold prices dropped lower than expected and formed fresh higher lows at $1206 levels on Friday. The structure from $1245 levels until now, looks to be corrective and could be retracing its earlier rally between $1182.5 through $1245 levels respectively. Please also note that prices could find support here, since it is a convergence point of fibonacci 0.618...
The 4H Channel Down (RSI = 29.476, MACD = -4.710, Highs/Lows = -9.6171, B/BP = -14.3541) has successfully made a new Lower Low at 1,206.52 on Friday and is close to breaking the 1D supporting Higher Low trendline at 1,198.50. Technically we should now get a rebound towards 1,226 before an attempt to break the 1,198.50 - 1,203.20 zone. With 1D turning negative on...
XAUUSD is approaching its support at 1207.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1219.99 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
Hi there. We are still on the continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy. We are forecasting that dollar gonna fall, so the more dollar fall gold and other metals gonna get strength.
The chart mostly speaks for itself, but.. My Hypothesis: Signal 1: The Fed drastically lowers the interest rates. Money supply increases. Stocks inevitably go up due to there being more money in circulation. Signal 2: The Fed notices the inflation and drastically raises interest rates. Money supply becomes stagnant. Signal 3: Money supply is stagnant,...