GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD pair is in the uptrend because previous week’s candle is green, while the price is obviously rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,529.890 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Gold-short
GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,510.163.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,499.735 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD BEARS ARE STRONG HERE|SHORT
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GOLD is making a bullish rebound on the 12H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 2,471.289 level.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
It makes sense for us to go short on GOLD right now from the resistance line above with the target of 2,385.656 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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GOLD SHORT FROM RESISTANCE
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GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,474.891 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD Will Go Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,488.303.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,432.168 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD Will Go Down From Resistance! Sell!
Please, check our technical outlook for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,499.791.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,474.130 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD Is Very Bearish! Sell!
Take a look at our analysis for GOLD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,512.84.
Considering the today's price action, probabilities will be high to see a movement to 2,469.74.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GOLD Will Move Lower! Short!
Please, check our technical outlook for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,508.869.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,475.990 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GOLD BEARS WILL DOMINATE THE MARKET|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 2,422.483.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
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We are going short on the GOLD with the target of 2,437.503 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GOLD Is Going Down! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,470.481.
Considering the today's price action, probabilities will be high to see a movement to 2,433.708.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,414.972.
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Gold Trade Setup: Short Position on Ascending TriangleI've identified an ascending triangle on the gold chart and have taken a short position from the top of the range. My entry is at 2,443.506 with a stop loss placed just above the triangle at 2,446.460.
Ascending triangles typically signal a bullish breakout, but I've positioned for a potential pullback or false breakout. My stop loss is set conservatively above the triangle to protect against any upside breakout. I'm aiming for a favorable risk/reward ratio by shorting at resistance, with plans to take profits at the 15-minute EMA level, which is currently at 2,436.7.
I'll update as the trade progresses.
GOLD Is Very Bearish! Short!
Please, check our technical outlook for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,441.718.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,411.425 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
GOLD BEARS ARE GAINING STRENGTH|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 beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 2,391.669.
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GOLD Is Very Bearish! Sell!
Take a look at our analysis 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 2,393.798.
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 2,369.013 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD SELLERS WILL DOMINATE THE MARKET|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 2,381.890 level.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
GOLD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 5H timeframe the pair is going up too. 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 2,377.524 area.
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