GOLD (XAUUSD) Market Outlook | Daily Forex Market BreakdownXAUUSD
Gold Seems to be sustaining bullish momentum for the time being. We have now retested a key area of resistance. Now it will be interesting to see if bulls can maintain control or if the bears are going to take over and we are going to roll over to the downside.
As you can see in the chart posted we have been calling these key areas of resistance for sometime. Still sitting on my hands until volume picks back up. Remember not everyday is a trading day. That being said gold is playing out very nicely, definitely at the top of my watch list.
Forex-gold
GOLD. Good entry point.Hello Traders!
GOLD for a long time can not decide on the direction, so I'm waiting for a strong movement.
The price is now on the resistance line and near the resistance level of 1482. and this is a good trade (good risk to profit ratio)
Target 1 - Support Line
Target 2 (in case of strong movement) - support level 1453
XAUUSD - Short at Supply zone - 15m
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Risk Only What You Can Afford to Lose
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GOLD what to doHello Traders!
As we predicted, XAUUSD fell to the support zone at the level of 1448 and began to grow.
The price has reached the resistance line and
now it’s better to wait for a better entry point.
If the price drops to a strong support line, we buy from this line to the resistance line at about 1466.
If the price starts to rise, then we sell from the level of 1480 to the level of 1458.
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GOLD Bearish Harmonic Bat completed with an Ascending TriangleThe Harmonic Bat Pattern which was developing (look at the related post) completed at: 1517.82
Trendlines reveal an Ascending Triangle.
Prior to the pattern we see a significant uptrend, in that case the Ascending Triangle indicates that the uptrend trend is more likely to continue.
Profit target for this pattern is 1568.18
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