Get started

GOLD-BUY

Where is Gold going this week?I worry about the Daily's ability to continue bullish. Here's why. Starting at the purple vertical line, Gold created a Rising Two Methods (Usually called a Rising Three Methods, but since it is the same formation, minus one candle, I called it this.) This is a Bullish signal often times. Looking at these two candles, a Dark Cloud Cover was created. These can be signs of reversal. Now, looking at the last candle. The wick pushes to new highs of the whole week. But, price closed lower than the previous days open. Will price move down? Or will price push above previous weeks' wicks and climb up?
FX:XAUUSD
by Shanktown
How to buy xauusdHi Traders, As we approach the middle of the New York Session, I see a potential setup on XAU/USD which we can take advantage of on Monday. Price has risen sharply off the Feds release earlier this week. Looking at structure I see a potential buy coming on if we manage to get a retest of the broken support. I would like to see price pull back into 174500 and then reject where we can be looking for our entry, I would like to see A rejection and some consolidation in the area before attempting to take a buy. A bullish engulf would also be ideal. Looking at where price is currently trading it could just give a push up to target without pulling back, If that happens we can find a potential entry above 1765.00. If price ends up pushing down without any signs of stopping I will be looking at a short position. My target is the psychological level at 1800. Hope you all had a successful one Renaldo Philander
OANDA:XAUUSDLong
by Tradebudz