RETRACEMENT ZONE + SUPPORT LINE + TREND BREAKOUT + BULLISH CANDLE = GOOD LONG POSSIBILITY // PS: PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
Looking at the price action and wave structure for Gold at this point in writing, the yellow metal seems to be drifting sideways $1183 and $1192 levels. It could be unfolding a potential triangle or flat before a last drop lower into $1180/81 region. This could complete a 3-3 wave count and then give way to a 5 wave rally towards $1250/70 levels, finally...
XAUUSD approaching resistance, potential drop!
PS: PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
We had discussed yesterday that according to the price action unfolding, we would bring out alternate scenario wave count in Gold. Prices dropped below $1192.50 yesterday, which changes the wave structure but potential bullish scenario could be intact. The yellow metal could be producing a combination while the corrective rally unfolds. A probable wave count...
After making a new Lower High on the 1D Channel Down (RSI = 42.763, MACD = -0.240, Highs/Lows = -4.5993, B/BP = -4.9820), XAUUSD is now aiming for a Lower Low just below our first TP = 1,180.50. There are probabilities that the 1D Channel Down will bounce to a new Lower High near 1,204, but with USDCNY testing the 6.9355 1D High and DXY crossing 96.00 again, the...
Suggestion Gold : Sell in the 1197 area S L: 1202 - 50 pips - 500 points. T P 1: 1187 - 100 pips - 1000 points. T P 2: 1182 - 150 pips - 1500 points.
Gold prices have stayed above $1192.50/94 levels until now as expected and discussed earlier. This price action is still keeping the impulse wave count possibility from $1160. As highlighted on the chart here, Gold might be close to terminating its wave 4 of a lower degree (please note prices should stay above $1192.50/94 levels), before it pushes higher towards...
XAUUSD is approaching our first resistance at 1197 (horizontal pullback resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1193 (horizontal overlap support, 100%, 61.8% Fibonacci extension, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of...
XAUUSD is approaching its support at 1194 (61.8% Fibonacci extension, 61.8%, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1200 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 4.5% where a corresponding bounce could occur.
KEY DEMAND ON THE LONGER TIME FRAMES. Shorter time frames to estimate a good entry. Break retest and potential good inverted head and shoulders. Target 1250.00
XAU USD still bearish continue situation and inside downtrend channel ....
Wait for the price to complete the continuation pattern that it’s forming and watch strong price action at the bottom of the pattern for buy. Don’t take a trade if you don’t see clearly when big guys are in. Forex signals premium channel. Join us! t.me
XAU/GBP pairing Admittedly the pound hasn't the the strongest, albeit terrible of late since brexit scaremongering was initiated. Looking at the .618 fib for support or resistance to be found before assuming trend direction however this setup is looking fairly solid. typical market cycle, overbought conditions stretched to inflection point before making a move...
The Venus retrograde cycle is a historically bearish cycle for US equity markets. The falls seem to be exacerbated when at or near all time highs, which all three markets find themselves. Regardless of catalyst or a reason, a strong dip should be expected between October 2nd and going into the last week of November. The Venus retrograde cycle starts on October 5th...
Gold might have placed a meaningful bottom at $1180/50 levels earlier. The yellow metal is drifting sideways for now, carving a lower degree wave iv, expected to stay above $1192 levels going forward. If this structure stays, Gold prices could push towards $1213 and $1216 to complete its impulse before correcting lower again. Overall, once gold prices break above...
Gold was falling for a long time without a good pullback. Now we are in that very corrective move as metal rebounded strongly from the 1180 area. C=A around the area of the earlier low (1237), this is how amazingly the simple geometry works.