Gold-short
GOLD BREAK support line and FALLSo, the price continues to move in an upward channel, which formed in late November - early December after the price broke through the support line 1806.93. After the breakout, it touched support 1768.05 and started to rise. As a result, this line of support became the lower border of the channel.
Last week, the price touched it at point 1858.13 and started to rally, but the growth was interrupted in the middle of the channel when the price came to the resistance line 1900.47. This line has existed since August 2020 and, as you remember, it was exactly the basis of the global downtrend. And this time the price also collapsed from this line.
Now the price is within the support line 1871.32, but this time I am sure it will break through it. Since the resistance line from which the price falls is older and stronger than this support line.
Thus, I expect the price to break through the 1875.07 support line, after which it will correct and consolidate on it in the area of 1881.23. In this case, you can open a sell trade either immediately after the line breaks out or after waiting for a correction.
As a result, the price will fall to the support line at 1841.58.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
GOLD start FALLING from strong RESISTANCE lineSince August, the price growth has been stopped by a strong resistance line. It is also trending - it directs the price in a downtrend. During the fall at the end of November, the price came to the support line 1803.05, broke through it, and then returned to the line.
A small ascending channel originates from the breakout low of 1766.14, in which the price has been moving since the first days of December. The price broke it only once, in the middle of the month, going beyond the resistance line. Otherwise, the pair continues to grow in the channel.
Last week, during the movement, the price just dropped to the lower border of the channel, the support line 1857.54. Where it pushed off and started a new rise to resistance. It is not only close to the upper border of the channel, but also from the resistance line formed in August.
I expect the price to begin with a correction to the support line, touching it in the 1878.27 region. After which it will turn off and grow to the resistance of 1904.24. And then it will leave the canal and fall to the support line 1844.30. This will be our goal.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
GOLD 530 p. in last week - done! Next goal - FALLINGLast week we made 530 pips on this pair!
Last few predictions to remind you of price movement:
December 16
December 17
December 18
Let me remind you that during the week we talked about the fact that the price should break through the support line and come to the resistance line - 1914.40. And the first part of the forecast has already come true. The price really broke through the point - 186308, and I still expect it to rise to resistance.
However, you can see that the price has almost touched the most important target, so I'm going to adjust the forecast and point to our next target.
I expect that after the price hits the resistance line at 1914.40, it will push off and start falling. Despite the strong growth, I do not think that the price will be able to break the line. Since since its inception in August, the price has touched it twice and both times after that fell to support.
And now I expect that after touching the resistance line, the price will fall to the support line. Thus, our final target is the support line at 1846.95.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
XAUUSD short ideaGOLD started to reject 1900 key level.
The price made a higher low with a lower high (1H timeframe) indicating selling pressure.
RSI also was in overbought zone.
EMA 9 and EMA 14 are crossing on 1H timeframe.
I expect a short movement to 1850 also to retest a daily trendline that was broken.
Trade with 1:11 RRR
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Gold ShortGold bounced off the trendline again, waiting for daily candle to confirm, if closed under trendline short to area 1800 very possible
Gold to react at 1857.5-1860Gold is in a downtrend at the moment and is expected to reach at the resistance level 1875.5~1860 which is also fib’s 78.6% retracement. Observe candle reactions first before entering.
Gold High Risk to Reward and Probability Short Hello, I will be explaining my short position which i personally think is one of a kind. firstly, gold is not accurately mirroring the economy (as of that day) so this brings me to two things. 1. Gold is being pushed down by vaccine news and 2. the big long traders who love gold wont be entering until a retest (my personal opinion). now lets get to why I believe this.
1. on the 7th - 9th of December gold has pushed up significantly and went back down significantly, has now made a head and shoulders pattern
2. connecting a trend line from November 30th to present time shows me a retest of the trendline via ema 21 (because pushing through it would indicate possible trend reversal retesting that 21 ema was close as it would to the trendline)
3. gold must retest some form of its lower supports in order to move up to new highs. I'm personally thinking 1770s.
4. Vaccine news simply have pushed the dollars "value" indicating very strongly with the need for golds retest of a low to move higher.
5. many other minor things that are too much to get into
Conclusion - The trade is low risk, if it doesn't move down just yet gold will probably in the next week find its way to the 1770s no matter. and most importantly the trade just makes sense with how gold has been moving recently.
one important thing to say to everyone on gold. trade what's shown not what gold should do, because if that was the case gold should've made record breaking highs already. Thanks for reading!
GOLD FALL from strong RESISTANCE As I said in my previous forecast, gold fell from the resistance line and approached the support line.
This was natural, since the resistance line from which gold fell regularly stopped its growth since August. And the breakdown was only in the unstable period of the US elections.
During the fall, the price was also able to break through the level of 1853.62 and the resistance line of 1843.88. Now this line also acts as a resistance for the price, which gives one more reason to expect a continuation of the fall.
Now the price is close to the support line. I expect her to complete the fall and touch this line. Thus, having come to our goal in the area of 1812.48
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
xauusd 10-11.12.2020xauusd 10-11.12.2020
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GOLD fall to support line Gold is "stuck" at the intersection of the support and resistance lines, so my previous forecast is still taking shape.
The price is on the support line right now.
However, I expect she will be able to pierce it.
This is a smaller support line formed in February 2020.
There were at least three breakdowns of this line during the year.
The resistance line from which the price falls, although younger, but stronger.
Its price broke only in November (elections).
Therefore, I expect the price to fall now too. Will break through the support line.
And will fall to strong support (2019).
The target is 1818.558.
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price imbalance tradehello fellow traders.
i placed a short on gold, cause i expected proce to come back to the imbalance area (market needs to rebalance the scales) after we spiked up into a liquidity zone.
Silver Decending Triangle: Strong Short SignalSilver hasn't seen the strong short selling pressure that Gold has seen recently. Yet.
Silver notoriously lags Gold, we saw that earlier this year during the great bullish move of gold. Now, Gold has seen strong short selling, will Silver follow suit?
I consider the $22 and $20 as main supports, they should return some nice R/R ratios.
GOLD: Forecast & Technical Analysis
GOLD reached a strong supply zone.
Based on our outlook the market will drop
to the underlined support.
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XAUUSD SHORTClear break and retest of a previous significant level. There has also been confluence with the Fibonacci golden zone. Price should reach TP 1 which is the -27.00 extension quite easily because it formally wicked there before. That means that price has now wick to fill . Once the 0.00 extension is hit, I will set trades . both position to breakeven to protect against a losing trade from any sudden major movements. After TP1 is hit, I will let the last position run to the -61.8 extension for TP2.
