XAUUSD is situated into a rising wedge which means the price makes higher highs and higher lows in the final will be a breakdown from this channel We have a strong ichimoku cloud resistance at 3D timeframe and the sell pressure is really big.RSI is above neutral zone so if bulls want to make another attempt they need to hurry because the buy pressure dropping...
no Advice for Trade , regards, Alireza
Gold prices have remained subdued for now by dropping towards $1218 levels at this moment of writing. Believe it or not, the structure still remains bullish till prices stay above $1212.00, going forward. At the same time, please also note that a drop below $1208 could indicate that a meaningful top is in place at $1245 levels and that the metal is looking lower...
XAUUSD is approaching its support at 1220 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1226 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.
Gold prices corrected lower since yesterday but support came in close to $1221/22 levels as seen on the 4H chart presented here. Please note that price action keeps the structure intact, and the yellow metal remains well poised to push higher towards $1250/52 levels at least, if not any further. The 4H wave structure remains intact and unchanged as discussed...
XAUUSD is approaching its support at 1211.93 (50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1238.06 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.
Description on chart says it all. Clean breaks and support at key levels Gold 0.31% is likely headed for massive upside expansion. Good Luck from The TRADRZ Team. Original idea by Ribz
We have brought up a 4H wave structure of Gold again, to have a medium term outlook. Please note that since printing lows at $1160 levels, the yellow metal has unfolded into an A-B-C corrective rally, and is within the last leg of potential Wave C termination around $1250 levels (fibonacci 1.271 extension of Wave A). Furthermore, if prices were to attain fibonacci...
Gold prices are seen to be taking time to unfold but the structure remains constructive for bulls to push through $1252 levels as highlighted on the hourly chart. The 61.8% fibonacci extension of waves i,ii and iii within Wave C is pointing towards $1252.00 levels, where a bearish reaction could be seen. To remind of the medium term wave structure, Gold is...
Following the 1,212 Lower Low last week, the 4H Channel Down pulled back to make a Lower High at 1,237.20 (RSI = 53.296, Highs/Lows = 0.0000) due to another sharp decline on stocks. Still, that was below the 0.382 1W Fibonacci level. As long as these sell offs occur on stocks, investors will continue to treat Gold as safe haven and will remain above the critical...
The compressed view of hourly chart for Gold is suggesting that it could be ready to push through fresh highs at $1250/70 levels. Please note that the yellow metal is possibly into Wave C at this point and furthermore it is into the 5th wave, within Wave C as shown here. Intermediary resistance could be seen at $1244/45 levels but the metal could eventually break...
XAUUSD is approaching its resistance at 1239.78 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1220.38 (61.8% Fibonacci extension, 38.2 Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a...
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy. USD is very weak and USD is inversely correlated to gold, so you have to consider that. Don’t take a trade if you don’t see clearly when big guys are in.
Gold, medium term structure remains unchanged for now, as the yellow metal raises past $1230 levels yesterday. The yellow metal is seen to be trading around $1232 levels at this point in writing and seems to be already on its way towards $1250/70 levels as discussed earlier. Looking into the 4H wave structure, the metal is into its proposed Wave C rally since the...
XAUUSD is approaching our first resistance at 1240.00 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 1225.96 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a...
After a few false starts last week, we are finally seeing the buyers step into Gold, judging by the latest bullish price action. Price has successfully tested the resistance-turned-support, with a confluence at the 20 & 50-day EMA, which all provide good support for prices. I am currently long on this counter, and should the bearishness in the stock market...
Gold reverses from $1212 levels yesterday, bouncing from around 50% retracement of the rally between $1182.50 and $1245.00 levels respectively. Please note that it is also a convergence of the past resistance turned support zone . Furthermore, with prices reversing above $1208 levels, the yellow metal also keeps the impulse wave structure within Wave C to remain...