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Gold shooting star - Bearish Potential After Stop RunsGold prices came into the week clinging to a range that had held for the past couple of weeks. Before that, price action had pushed below a bear flag formation, eventually setting a near-term low around 1763 with range support holding around the 1770 level. FOMC brought a quick push of USD strength, which helped Gold to temporarily breach that support. This likely triggered a plethora of stops that were set just below range support, after which price was ready to jump from a fresh low at 1753 and back up to 1792, which brought breakout potential into 1800 and 1815. I talked about that setup here: twitter.com Today saw the bullish breakout run all the way up to 1814 but price was unable to test through 1815, again, likely taking out a plethora of stops that were lodged above range resistance. A reversal began to show thereafter, and today's daily bar closed with a shooting star formation, often followed with the aim of bearish reversals. That formation also showed at a key spot, inside of the 1815 level and around the underside of a bear flag formation. This can make the short side of the matter attractive, especially for those looking for a continuation of USD-strength. And given the fundamental outlay from the FOMC this week, where the bank highlighted the possibility of as many as 5-6 rate hikes over the next two years, there could be ample motive for USD-strength to continue.
TVC:GOLDShort
by JStanleyFX
Technical analysis update: XAUUSD (16th December 2021)Gold responded pretty well to yesterday's FOMC meeting. It soared from as low as 1753 USD yesterday to as high as 1798 USD today. We continue to maintain a bullish view on gold as we expect the tightening cycle (with presence of high inflation) to be very bullish for gold. Additionally, we expect gold to break above the resistance level at 1835 USD. We expect this breakout to be accompanied by resumption of the uptrend that will culminate in a new all-time high for gold in 2022. Technical analysis - daily time frame RSI started to grow slightly (after a long period of sideways moving action) which is bullish. Stochastic is also bullish. MACD tries to reverse its direction to the upside. DM+ and DM- are due to perform a bullish crossover in the following days. ADX remains low which suggests that the prevailing trend remains neutral. Final note - daily time frame Overall, no trend is present. Price remains stuck between 1750 USD and 1835 USD. We continue to await a bullish breakout above the 1835 USD price tag followed by subsequent resumption of the bullish trend. Technical analysis - weekly time frame RSI and Stochastic are neutral. MACD remains in the bearish area; however, it needs to be observed closely in the following weeks as we expect it to perform a bullish crossover above 0 points. DM+ and DM- continue to show bearish condition. Though, ADX is very low which suggests no trend is present. Final note - weekly time frame Weekly time frame shows similar conditions as the daily time frame. No trend is present and price remains stuck between the support level at 1750 USD and the resistance level at 1835 USD. Support and resistance Short-term resistance sits at 1835 USD while short-term support sits at 1750 USD. Other resistance levels sit at 1877 USD, at 1916 USD, and then at 1965 USD. Another important support level can be found at 1676 USD. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
5
gold try touch 2 fibo 61% , its main target is 1833 AC daily is green ,this mean + trend can start , we have reverse head and shoulder too gold break yesterday high and 1 hour chart trend line , thecnical say frist target is 1790(fibo 61% 1hour chart) then can fly up to daily fibo 61% in 1833 advice= looking buy in deep with sl in low , dont pick sell signals , gold ready to fly up , it can go to fibo 161% in 1944 (if you open sell , against daily chart trend , it can go up wild,witout pull back and dont allow you close sell) dont forget gold love buy and go up www.tradingview.com good luck , minimum 3 day be patient on buy gold
FX:XAUUSDLong
by ramin_trader2006
2
Weekly Analysis 29th Nov - 4th Dec - horizon after Black FridayFriday's Black Friday introduced significant valuations also on the markets and we met with large anomalies also from the perspective of the Option flow, which we automatically analyze with our software. While we observe a strong directional movement already during the Globex session, it is not worth fighting the trend and it is much safer to try to join it wisely. Anyway, the Gamma Intraday strategy assumes that in the event of breaking the extreme level, we do not fight the trend but try to join the movement. Gamma -1 was broken in the markets during the Overnight / Globex session. From a medium-term perspective, it's worth going back to the Virgin VPOC levels to assess the potential for moves. The market will try to retest them, the only question is when it will happen. Let's look at the situation on the main instruments: DAX - a clear downward trend that was deepened during Friday's session. The price is close to the 14946 level, so it should be retested sooner rather than later. The remaining Virgin VPOC levels are above the current price, showing upside potential on the German index - starting at 15,909 with a potential to 16,158. S & P500 - Friday's panic on the American stock market may only be the beginning of the sell-off. It has been known for a long time that the FED has been pumping sky-high amounts of money for a long time, which causes continuous increases in the S & P500. From the Virgin VPOCs perspective, there is a lot of potential for declines through 4471.50, 4310.25 and ending at 4234.25. This does not negate long-term gains, but it is definitely worth keeping an eye on the downside opportunities. Gold - despite declines in the main stock exchange indices, we would expect gold to increase significantly in line with the inverse correlation. However, we saw a moderate drop in price on Friday's session and only the end showed the demand entry. Relatively close is the 1763 level, one of the Virgin VPOCs below the current gold price (at the time of writing). The growth potential of Gold looks much more interesting due to Virgin VPOC points at 1817.2 through 1863, 1875.7 with potential at 1885.2 Crude oil - a clear discount on "black gold" on Black Friday, which will surely please drivers at gas stations;) From the perspective of potential, there is a lot of room for growth, with the price reaching 81.37 and 84.22.
EUREX:FDAX1!
by skyline-trader
DeGRAM | GOLD forecast for the week. Shake-up. Short Gold is shaking up the resistance of the global downtrend channel. After hoping that the price is starting to recover, it is driven back into the downtrend. Well, since the price made a false breakout of resistance, we can only expect a fall. I am waiting for anchoring below the level. As a result, it turns out that the local trend changes its direction to a downward one, which coincides with the global one, and according to the situation, this tandem can give a strong downward movement. I look forward to the fall of gold. At the moment, the key point is support for 1751 ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!
OANDA:XAUUSDShort
by DeGRAM
6
+1,800 Ticks Bullish GC One HourThe GC one hour time frame is in a short term down trend. The market is making lower lows and lower highs. The market is hitting the long term up trend line from the daily time frame which means the buyers have a strong chance to take control and push the market up. It will be a good idea to wait for the market to enter into the buy zone and break and close above the short term down trend before looking for buying ideas. Entry: Counter trend line break bullish in the buy zone. STOP In the sell zone LIMIT: 1977.4 Once of if the bullish trend starts on the one hour time frame, we can use up Fibonacci's to find a closer limit Once or if the market enters into the buy zone off the one hour time frame. It will be a good idea to turn to the five minute time frame and to look for tunnel trader long / destination trader long opportunities towards the daily limit price point 1977.4
COMEX:GC1!Long
by JoshuaMartinez
2