GOLD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1963.756 level.
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Gold-short
XAUUSD 29/10/23XU is for us a pretty easy one we have a strong fundamental driver for gold at the moment so we wont be aiming for any shorts on this.
overall we sit within huge bullish range so trend is already telling us the direction it wants to go.
keep it simple and watch out for updates on any conflicts.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Gold (GC1! Futures) Mid Term UpdateFollowing on from my analysis from yesterday, towards the end of yesterday's trading session, Gold printed a very strong hanging man candle.
Traditionally, when this candle is printed near the top of a rally, it signifies a substantial move down.
Also keep in mind, data releases so far for this week have been good for the dollar, and let us also remember that while the war on Palestine is very sad, the market is over the war shock now.
We were always in an overall bearish trend, so now I expect gold to continue its move down. Infact, in reference to my prior weekly analysis, which places the long term target at 1745 - future price - we can now expect the long term scenario to start playing out.
I will be updating this post through the day. I have already gone short with a SL above the current daily high. If I see another good shorting location in the day, I will post it here as a comment.
Please be aware, this is not financial advice.
GOLD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1915.286 level.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello,Friends!
Previous week’s green candle means that for us the GOLD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1853.913.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GOLD is trending down which is obvious from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a great trend following opportunity for a short trade from the resistance line above towards the demand level of 1850.826.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GOLD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 2H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1845.359 area.
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XAU/USD 28.09.2023 shortFOREXCOM:XAUUSD
Hello traders,
Today, I am once again looking for a selling opportunity around the white area. If I observe bearish momentum, I will enter the position promptly. It's worth noting that the US dollar is exhibiting significant strength once more. Please exercise caution regarding news events as they have the potential to swiftly alter the market's direction.
XAU/USD 27.09.2023 shortFOREXCOM:XAUUSD
Hello traders, for the remainder of the week, I am still actively seeking additional selling opportunities. My preferred strategy involves identifying supply and demand dynamics. Currently, I am exploring potential entry points around 1908.
Additionally, you may consider trading the Fibonacci 61% retracement level or the countertrendline. All of these indicators converge in the same area, making it a promising zone for potential trades.
However, it's essential to exercise caution when considering news events. They can lead to rapid upward movements, but they might also provide high entry points for short positions. Stay vigilant and adaptable in your approach to capitalize on market opportunities.
XAU/USD big short 21.09.2023FOREXCOM:XAUUSD
Hello traders,
After the rapid surge to the upside in gold yesterday, I believe we may continue upward to around 1936 to attract new sellers before experiencing a potential drop, possibly back to 1924, perhaps even within this week. As always, it's essential to keep an eye on the news because it can swiftly alter the chart's dynamics.
XAU/USD 20.09.2023 shortFOREXCOM:XAUUSD
Hello traders,
For today, I'm expecting a move up to around 1943 during the London session. However, over the New York session, I anticipate a drop down to 1928, possibly even 1924. My entry point would be at 1934, which is a resistance area that aligns with the 68% Fibonacci level. Additionally, this setup could form a nice head and shoulders pattern, providing further confluence.
Considering the strong bullish sentiment of the Dollar at the moment, I would not recommend a long position in gold. As always, it's crucial to stay informed about news events, as they can quickly impact market dynamics and lead to new highs or lows. Keep a close watch on both technical and fundamental factors for informed trading decisions.
GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
Previous week’s green candle means that for us the GOLD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 1900.176.
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XAU/USD 19.09.2023 shortFOREXCOM:XAUUSD
Hello traders,
I'm currently looking for a significant short opportunity in gold. The Dollar is exhibiting considerable strength at the moment. In addition, gold is positioned within a substantial resistance zone and under a bearish trendline. If the Dollar news continues to be positive, there could be a substantial drop in the price of gold. However, please exercise caution and stay informed about any news events that might impact the market, as they can have a substantial influence on price movements.
GOLD Will Go Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 1926.808.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1920.063 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD SHORT FROM RESISTANCE
Hello,Friends!
We are now examining the GOLD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1902.112 level.
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