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Gold-trading

Gold – Potential bullish divergence on hourly chartOn the left hand side is the hourly chart, while the daily chart is on the right hand side. Gold’s retreat from $1353 followed by a day end close below 50-DMA on Thursday suggests prices could retreat further to $13330 levels, although support of 10-DMA at $1327 would hold due to oversold nature of the hourly RSI. Moreover, a rebound from $1330-1327 levels would result in a bullish price RSI divergence. The subsequent move higher could run into resistance around $1350-1353 levels.
FX_IDC:XAUUSD
by TipTVFinance
Gold – Descending trend line remains intact, What's next?“Everything that happens once can never happen again. But everything that happens twice will surely happen a third time.” ― Paulo Coelho, the Alchemist To a greater extent, the same logic is applicable in markets as well. The falling trend line was established at the end of October 2012 and was put to test last month. Prices failed to take out the same last month and an attempt this month was thwarted as well. So the price has already failed twice to take out falling trend line resistance… does that mean the third attempt will fail as well? The stage looks set for another failure as – A re-test of falling trend line could happen on Friday or next week if the non-farm payrolls and wage growth figure in the US is horribly weak. However, August figures are usually weak and are revised higher in the subsequent months, hence markets are unlikely to read take them seriously. Thus, another failure at falling trend line hurdle looks likely.
FX_IDC:XAUUSD
by TipTVFinance
Gold – Flag and Pole formation on monthly chartPrices failed to hold above Flag resistance and now appear on track to test monthly 50-MA level of $1318 levels. Also note; the monthly 50-MA has topped out and is now moving lower…towards monthly 100-MA. Losses this month and in the next month could result in a bearish monthly 50-MA and 100-MA crossover. The bullish crossover must have happened in 2002. Only a month end closing above flag resistance (bullish break) would signal continuation of the long term rally.
FX_IDC:XAUUSD
by TipTVFinance
Gold – Bearish move could gather paceGold prices retreated in Asia as treasury yields rose, leading to broad based USD strength on hopes Fed’s Yellen could come out hawkish during her speech at Jackson Hole event on Wednesday. On the daily chart, we have a bearish break from symmetrical triangle, with prices now within touching distance from 50-DMA support of $1329/Oz. The daily RSI also shows a head and shoulder formation and a breach of neckline would signal further losses in gold prices. To the downside, a break below 50-DMA could yield $1311 (July 21 low). On the higher side, a break above $1358 (Aug 16 high) would signal bearish invalidation.
FX_IDC:XAUUSD
by TipTVFinance
Gold – Daily chart is a mess!Gold’s daily chart is a mess as we have an expanding channel formation, whose upper end is still acting as a support/resistance. We have a rising trend line that was breached on August 8 and since then multiple attempts to get back above the same on daily closing basis have failed. And now we also have a symmetrical triangle formation. Amid all this the money flow index is dropping, which goes down well for the bears when viewed in light of multiple failed attempts to retake rising trend line. Selling is seen gathering pace once $1337 is breached (symmetrical triangle support). The metal could target $1300 in this case On the higher side, bulls are advised to wait for a convincing close above $1363.
FX:XAUUSD
by TipTVFinance
Gold – Awaits breakout from symmetrical triangle We have symmetrical triangle formation on the daily price chart as well on the RSI chart. We await the breakout, although the odds of a bearish break are high given the failure to sustain above the rising trend line. A day end close below $1333 (23.6% of May 30 low – July high) would also trigger a bearish break from symmetrical triangle on RSI and open doors for $1300 levels. On the higher side, a break above expanding triangle resistance could yield a test of symmetrical triangle resistance.
FX:XAUUSD
by TipTVFinance
Gold – Poised to test July highsGold’s rebound from daily rising trend line on July 26 followed by a dip and recovery above $1356 (July 29 high) amid bullish daily MACD and bullish daily RSI suggests prices are likely to test July highs around $1375. We may extend gains to $1380 (38.2% of 2011 high – 2015 low). On the lower side, only a daily closing below rising trend line support currently seen at $1333 (also 23.6% of May 30 low – July 11 high) would suggest bullish invalidation.
FX:XAUUSD
by TipTVFinance
Gold – Multiple Inv. Head and Shoulder breakout on weeklyGold weekly chart shows a bullish break from two inverse head and shoulder formations after Brexit vote followed by a rise to $1375 and a drop to inverse head and shoulder neckline support followed by a rebound of the same and a break above $1358 (61.8% Fibo extension). The entire price action suggests we are heading towards $1400 handle by next month or so. . The bullish view goes down well with the fact that August is usually a bad month for risk asset.
FX_IDC:XAUUSD
by TipTVFinance
2
GOLD(Monthly) Decision Time Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point. Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;) Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big Global Risk event. Big Supply zone at $1500 - $1600 which is also a important Fib level. Best Demand Zone from a Decade perspective is lying at $980 - $890 which again is a important fib level. Medium Term Traders Look to Buy around $1200 levels and look for break of the falling trend line. Long Term Investors should Buy around the marked Demand Zone as it will offer them best risk to reward ratio. I hope i have not disappointed anyone neither Bulls Nor Bears :) I have something for everyone ;) Take Care
FX:XAUUSD
by robin_bajaj_7
5
GOLD(Monthly) Decision Time Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point. Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;) Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big Global Risk event. Big Supply zone at $1500 - $1600 which is also a important Fib level. Best Demand Zone from a Decade perspective is lying at $980 - $890 which again is a important fib level. Medium Term Traders Look to Buy around $1200 levels and look for break of the falling trend line. Long Term Investors should Buy around the marked Demand Zone as it will offer them best risk to reward ratio. I hope i have not disappointed anyone neither Bulls Nor Bears :) I have something for everyone ;) Take Care
FX:XAUUSD
by robin_bajaj_7
Gold – rebound from rising trend lineGold’s rebound from rising trend line (drawn from June 6 low and June 24 low) amid post Fed sell-off in USD suggest prices could have formed a short-term bottom at $1370.71 (July 21 low), but reckon the weak momentum in Asia and early Europe would lead to choppy trading. Further gains are seen following a quick drop to $1333.62 (23.6% Fibo) followed by a rebound above $1342 would open doors for $1358 (June 24 high). On the other hand, a break below $1333.62 could yield a re-test of rising trend line level of $1325/Oz levels.
FX:XAUUSD
by TipTVFinance
Gold - Head and Shoulder on hourlyPattern – Head and Shoulders: Neckline support around $1311/Oz Rising trend line support around $1317…could extend up to $1319 over next few hours A bearish break is seen happening if the Fed statement is hawkish. Knee jerk reaction could take prices down to $1284. As long as the hourly closing is below neckline levels, a drop to $1240 over next few days looks possible. On the other hand, outright dovish statement could yield a move higher to $1340 - $1358 by weekend.
FX:XAUUSD
by TipTVFinance
Gold – Bears exhausted, risk of reboundGold’s sharp rebound on Friday from the low of $1322 followed by a close above expanding channel resistance suggests the bears may have run out of steam and a sideways to positive action could be seen in the short-run. Thus, a similar rebound from near $1322 levels if followed by a move above the daily high of $1337 would add credence to Friday’s bullish action and open doors for $135-1358.10 levels. On the lower side, only a day end closing back inside expanding channel formation followed by a break below $1320 would suggest a retreat to $1300 levels.
FX:XAUUSD
by TipTVFinance
Gold- Eyes 5-DMA hurdleGold’s recovery from the session low of $1327.45 followed by a move back above expanding channel resistance following a two-day losing streak indicates the metal could be heading back to 5-DMA level of $1350/Oz levels, but reckon the resistance would stay intact. On the lower side, a day end closing back inside expanding channel would add credence to the retreat from the resistance zone of $1375-1380 (also point C of the potential Cypher set ups) and open doors for a drop to $1300 levels.
FX:XAUUSD
by TipTVFinance