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GOLD SHORT SETUP: TARGETING $3,100 FROM OVERBOUGHT CONDITIONSGOLD SHORT SETUP: TARGETING $3,100 FROM OVERBOUGHT CONDITIONS Looking at the current Gold chart, we're seeing potential exhaustion signs near all-time highs. While the trend remains strongly bullish (all moving averages pointing up), several indicators suggest we may be due for a pullback to the $3,100 level. Key Observations Overbought RSI (77.09): The RSI is showing overbought conditions without divergence yet, but at levels where previous corrections have occurred. Extreme Stochastic (97.99): Nearly maxed out at 98, suggesting limited upside momentum remains. Williams %R near zero (-2.44): Showing extreme buying pressure that historically doesn't sustain. CCI above 140: At 146.61, well into overbought territory. Moving Average Spacing: While all MAs signal "Buy," the distance between recent EMAs (10, 20) and price indicates stretched conditions. Risk Management This is a counter-trend trade against strong bullish momentum, so position sizing should be conservative. The R2 pivot at $3,045 and the 10-day SMA at $3,046 should act as initial support levels and could provide clues about whether the pullback thesis is playing out.
TVC:GOLDShort
by ProTradeSignals
Today analysis for Nasdaq, Oil, and GoldNasdaq The Nasdaq closed sharply lower, forming a long bearish candlestick, as recession fears intensified. The index fell toward the lower Bollinger Band on the daily chart, while the MACD moved closer to the signal line, indicating a correction. On the weekly chart, the Nasdaq faced resistance slightly above the 5-week MA, forming an upper wick and closing lower. The MACD is falling steeply, and the signal line is also in a downtrend, suggesting the potential for an overshooting move downward before forming a bottom. From a daily perspective, key support zones to watch are around 19,000 (first level) and 18,500 (second level). The MACD has not yet crossed below the signal line, but if a bearish crossover (death cross) occurs, a strong third wave of selling pressure could emerge. Therefore, caution is advised for long positions. However, since the MACD has not yet confirmed a bearish crossover, there is also the possibility of a rebound off the signal line. It is crucial to wait for a confirmed trend reversal before taking long positions. On the 240-minute chart, strong sell signals have emerged, leading to a steep decline. The current price action resembles the movement seen on February 21, but since the bottom is not yet clear, it is best to adopt a conservative approach. For short positions, the 3-day moving average can be used as a reference level. For long positions, the lower Bollinger Band may provide a short-term buying opportunity. As today marks the last trading day of the month, watch closely to see if the Nasdaq reaches the 20-month MA or ends the month with a lower wick. Crude Oil Oil closed lower, facing resistance at $70. It has fallen back below the 5-day MA, trapping the price within a range-bound structure. On the weekly chart, oil was rejected at the 10-week MA, and since the MACD has not yet formed a bullish crossover, there is a chance that oil could retest its previous double-bottom level. A consolidation phase between the 5-week and 10-week MAs appears likely. On the daily chart, as the price corrected, the MACD began converging with the signal line. If oil retraces to around $68, a short-term buying opportunity may arise. For oil to resume its uptrend, it needs to pull back toward $68, rebound, and break above $70 with strong momentum. However, this move would likely require a global catalyst. On the 240-minute chart, both the MACD and signal line remain above the zero line, suggesting a higher probability of a rebound and a golden cross formation. Overall, the best approach is to focus on dip-buying opportunities during this phase. Gold Gold closed higher, breaking to a new all-time high on the daily chart. Last week, there was a possibility of a pullback toward the 5-week MA, but the MACD has turned upward, surpassing its previous high, reducing the likelihood of a bearish divergence and increasing the probability of further upside. However, since gold has not yet tested the 5-week MA, a short-term correction remains a possibility. On the daily chart, buying opportunities were available at the 3-day MA following a strong bullish candle. A pullback to the 5-day MA within the next few days remains possible, and if this happens, it could present another dip-buying opportunity. Based on wave analysis, gold could target around 3,216. To confirm this upside scenario, the daily chart must show stronger bullish momentum, eliminating the risk of MACD divergence. On the 240-minute chart, gold has been experiencing strong upward momentum, making it a buy-on-dips market. However, for a more comfortable long position, the MACD needs to exceed its previous peak. Overall, a long-only strategy remains preferable. For short positions, it is difficult to pinpoint the exact peak, so strict stop-loss management is essential. This week, key economic events include the ISM Manufacturing & Services PMIs and Friday's U.S. jobs report, which could increase gold's volatility. Stay cautious. Today marks the final trading session of March. Tariff-related news and gold’s record highs indicate rising market volatility. Stay adaptive to the market’s movements and trade safely as we close the monthly candle. Wishing you a successful trading day! If you like my analysis, please follow me and give it a boost! For additional strategies for today, check out my profile. Thank you!
CME_MINI:NQ1!Short
by Futureguard
10
The more you rise, the harder you fall, or what?The month of March has been a strong month for the TVC:GOLD bugs. The commodity has been hitting new highs every week. Let's see where the next target could be. MARKETSCOM:GOLD Let us know what you think in the comments below. Thank you. 74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
MARKETSCOM:GOLD
by Marketscom
1
XAUUSD Time to start selling?Gold (XAUUSD) finally hit our 3 month $3000 target that we've been pursuing since the very first week of this year (January 06, see chart below) and in later stages upgraded to $3100: Now the price has reached the top of the 1.5-year Channel Up, forming a similar 1D MACD peak formation while completing the +22.50% rise that the previous two major Bullish Legs had. As you can see, the pattern makes its Higher High on the 2nd MACD Bearish Cross and in 2 out of 3 Bearish Legs it retraced all the way to the 0.5 Fibonacci level, while on the remaining it the correction was contained to just above the 0.382 Fib. On all cases the price came close to the 1D MA100 (green trend-line) before bottoming. As a result, even though some more Trump announcements may cause a momentary push upwards, we technically think that it is a solid level to turn bearish now with a fair 2900 Target on the 0.382 Fibonacci where by the end of April it should come close to the 1D MA100. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TRADENATION:XAUUSDShort
by TradingShot
GOLD PoV - SHORT 3.125$The price of gold has recently reached a historic high, surpassing the $3,100 per ounce mark, driven by uncertainty stemming from U.S. tariff policies under President Donald Trump and concerns about potential geopolitical conflicts. This increase underscores gold’s role as a safe haven asset, with investors seeking stability amid growing economic and political instability. Trade tensions, particularly the tariff policies proposed by the Trump administration, have contributed to economic uncertainty, prompting investors to seek security in gold. Additionally, concerns about potential conflicts, such as recent escalations in the Middle East, have further strengthened demand for gold as protection against geopolitical risks. Central banks have played a significant role in this scenario, increasing their gold reserves. In the third quarter of 2023, reserves increased by 337 tons, bringing the total for the first nine months of the year to 800 tons, about a third of the global mine production for the same period. This accumulation by central banks has helped sustain the price of gold, highlighting its status as a safe asset. Regarding investment strategies, some analysts suggest that gold's price may undergo a correction after its recent rally. For example, technical analysis indicates a potential short entry at $3,125 per ounce, with a profit target of $2,925, anticipating a retracement of about $200. However, it is important to consider that gold price forecasts can be influenced by various unpredictable factors, such as economic policies, geopolitical developments, and market dynamics. In summary, gold has benefited from a significant increase in value due to the uncertainty arising from trade policies and concerns about geopolitical conflicts. Its nature as a safe-haven asset has attracted investments from both institutional investors and central banks. However, trading strategies, such as short positions, should be evaluated cautiously, considering the volatility and uncertainty that characterize the gold market.
VANTAGE:XAUUSDShort
by Generazione_X
2
Hellena | GOLD (4H): LONG to resistance area 3100.Wave “3” is still continuing its progression. This means that the five-wave impulse is not over yet and we expect the upward movement to continue. Of course I would like to see wave “4” as a corrective wave in the area of 3024 level, then I expect an upward movement to the area of 3100 level. This level is also considered to be quite strong, from which there could be a correction. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
OANDA:XAUUSDLong
by Hellena_Trade
19
Gold price today continues to be forecast to increaseBrian greets everyone, let's discuss the gold price forecast for next week from 03/31/2025 - 04/04/2025. Global Situation: Last week, the market witnessed intense volatility in gold prices as it continuously broke previous highs to establish new records. The precious metal closed the final trading session at a new all-time high of $3,085 per ounce, approximately $60 higher than the previous week's closing. In the Wall Street survey, 20 analysts participated, with 85% forecasting continued upward movement in gold prices, only 5% predicting a decline, and the remaining 10% expecting sideways movement. Similarly, in the Main Street online survey, 202 investors responded, with 64% anticipating further price increases, just 19% expecting prices to cool down, and the remainder predicting sideways movement. Analysis: Gold prices are rising, with early April expected to see a breakthrough to NEW all-time highs. Forecast: Strong buying demand persists from central banks, Chinese consumers, and North American investors - particularly from the US, where potential remains untapped. Additionally, concerns about tariffs and inflation will drive investors toward gold as a safe haven. Gold prices could potentially reach $3,200 or $3,300 if tariff measures are implemented. Technical Analysis: Based on gold's resistance and support zones on the H4 timeframe, Brian identifies these key areas: Resistance: $3100, $3132, $3150 Support: $3070, $3050 IMPORTANT NOTES: Note: Brian emphasizes proper capital management for traders: Use appropriate lot sizes based on your capital Take profits at 4-6% of account balance Set stop losses at 2-3% of account balance The winner is the one who stays in the market the longest.
OANDA:XAUUSDLong
by BrianCarter
Gold- Target and new ATH reached. Now what?In my analysis yesterday, I mentioned that Gold would likely reach a new all-time high (ATH), but for that to happen, it was crucial for bulls to hold strong at the 3025-3030 support zone. Indeed, Gold made a new ATH, reaching my target zone of 3080 overnight. I closed my buy trade with a profit of 550 pips. Now, the key question is: What’s next? In my opinion, there’s a strong possibility that Gold will continue its upward movement and test the 3100 level. However, at the current price of 3075, entering a buy trade is not justified from a risk perspective. For now, I’m staying out of the market. If a retracement occurs, I’ll be watching the 3050 zone closely—most importantly, I’ll assess how the market reacts at that level before making any decisions. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
TRADENATION:XAUUSD
by Mihai_Iacob
1
Gold price next week will continue to conquer the new peak?Brian Hello Everyone, Let's Comment on Gold Price Next Week From 31/03/2025 - April 5, 2025 World situation: Gold prices continue to reach new highs as investors flock to this safe-haven asset, amid growing concerns about the global trade war triggered by US tariff policies. Currently closing at $3,085, up 0.94%, the yellow metal remains the optimal choice in the face of mounting worries about tariffs, trade tensions, and geopolitical instability. US trade policy, fiscal policy, geopolitical factors, and growth slowdown will support gold prices. Forecasts suggest that $3,100 per ounce will be the next important milestone for gold prices. Identify: The upward trend will continue into next week, with support levels indicated on the chart providing backing for gold. Pay attention to the new all-time high, from which the upward momentum will continue to be triggered. Technically: Based on the 34 & 89 EMAs and clear support-resistance zones, these buy setups align with the current bullish momentum. Pullbacks to EMA zones offer good re-entry opportunities, especially when price respects structure and bullish candle formations are confirmed. NOTE: Note: Brian wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by BrianCarter
XAUUSD H4 Trading Plan (Intraday Outlook)Bias: 📈 Bullish (Strong Continuation) Current Price: ~$3,093 Context: Price is accelerating after breaking key resistance, maintaining bullish structure. 🧠 1. Market Structure (H4) Structure remains bullish, with well-defined HH & HL. Recent consolidation block (OB + FVG): price broke out cleanly and is now expanding. Short-term trend leg is steep → potential for shallow intraday pullbacks. 📌 2. Key Levels from Your Chart 🔝 Upside Target 3,120.14 – Major H4 resistance / next liquidity zone 🟦 Intraday Support Zones 3,049.57 – recent H4 resistance, now flipped support (ideal for pullback entries) 3,000.65 – clean structure zone, possible FVG fill 2,977.64 – origin of last impulse 2,960.27 / 2,899.69 – deeper HTF demand / OB zones 🔍 3. Order Blocks & Liquidity 🔲 OB zone breakout (highlighted gray area) → now acting as demand 💧Buy-side liquidity rests above 3,120 Any retracement into 3,049 / 3,000 could be used by Smart Money for re-entry longs 📅 4. Trade Scenarios (H4) ✅ Scenario A: Bullish Continuation Price holds above 3,049 → intraday continuation toward: 🎯 3,120 🎯 Potential extension: 3,150+ 📌 Ideal setup: bullish engulfing or BOS + FVG entry on pullback to 3,049 zone 🔁 Scenario B: Pullback Before Continuation Rejection near 3,100–3,120 leads to pullback toward: 🔁 3,049 🔁 3,000 (FVG / previous OB) Monitor price action at those levels for continuation entries. 🟥 Scenario C: Bearish Shift (Low Probability for Now) Break below 2,960 with strong bearish momentum → opens door toward: 🔻 2,899 This would invalidate current bullish short-term structure. 🧭 Summary Trend is strong, momentum is clean → only looking for buy setups on dips. Watch for continuation above 3,049 and especially reactive price action near 3,120. If pullback occurs, 3,000 zone is prime location for re-entry longs.
VANTAGE:XAUUSD
by GoldFxMinds
XAUUSD Daily Trading Plan (1D Outlook)🔍 1. Structure & Price Action Price broke out aggressively from previous consolidation (~2960–3000). Current impulse leg is strong, with very shallow pullbacks – trending conditions. Daily candles show sustained buying pressure, minimal upper wicks → buyers in control. 📏 2. Key Levels (from your chart) 📌 Upside Targets: 🔸 3,120.14 – potential resistance / short-term TP 🔸 3,180.72 – extended upside target if momentum holds 🟩 Support Zones: ✅ 3,049.38 – minor intraday support ✅ 3,000.66 – recent breakout retest zone ✅ 2,960.77 – clean demand zone / OB zone ✅ 2,899.69 – last major demand / strong structure support 🧠 3. SMC & Liquidity Insights Buy-side liquidity has been cleared → clean runway toward psychological zones (3100–3200). FVG may exist between recent candles → shallow retracement into 3049 / 3000 possible. No active bearish OBs above → price remains in price discovery mode. 📅 4. Daily Trade Scenarios ✅ Scenario A: Bullish Continuation Hold above 3,049–3,060 → continuation toward: 🎯 3,120 🎯 3,180+ Look for strong H4 bullish candles on retest of minor support. ⚠️ Scenario B: Pullback to Demand Reject from 3,100+ and drop toward: 🔁 3,000 (retest previous high) 🔁 2,960 (key OB / FVG zone) Watch for bullish reversal signals (engulfing, break of structure) for re-entry long. 🟥 Scenario C: Deeper Reversal (Less Probable) Break below 2,899 could shift bias to neutral/short-term bearish. 🧭 Summary XAUUSD is in a strong trending phase with no major resistance above. Pullbacks into 3,049 / 3,000 / 2,960 are ideal areas to look for continuation longs. Focus remains on buy-the-dip setups as long as price holds above 2,899.
VANTAGE:XAUUSD
by GoldFxMinds
Will Monday Bring a Breakout or a Correction?Last week was characterized by extreme volatility, with price movements reflecting significant reactions across different trading sessions. On Friday, the Asian session managed to push past the $3057 mark, only for early European trading to see a pullback. However, the US session reversed course, fueling a rally that extended until market close. Key Levels to Watch on Monday Looking ahead, the critical question is whether the Asian session can break above $3086, potentially paving the way for a push beyond $3100. If this breakout fails, we could see a price correction similar to Friday's, especially during European trading. At present, I'm taking a cautious approach, observing the market while many anticipate further upside. While momentum appears strong, I prefer to wait for clearer confirmations before making a move. Potential Scenarios Breakout Above $3086 A successful push above this level could signal continuation toward $3100+, reinforcing the bullish sentiment. Failure at $3086 – Potential Pullback If the market struggles to sustain levels above $3086, a decline to $3076 is likely. A break below $3076 could see further downside to $3067 and possibly lower. Technical Indicators & Market Sentiment RSI (1H): Currently at 52, indicating neutral momentum. RSI (4H): Around 90, showing overbought conditions—especially following the Asian session rally. Market Sentiment: Many traders expect an upward continuation, but caution is warranted given overbought signals and the possibility of a correction. External Factors: Tariffs & Global Trends As we approach April 2nd, when new tariffs take effect, global markets have been showing signs of weakness. Uncertainty persists, and with gold acting as a safe haven, investors may seek protection, adding another layer of complexity to Monday’s price action. Conclusion The start of the week will likely be dictated by whether the Asian session can achieve a breakout above $3086. If it does, bullish momentum could drive prices higher. However, failure at this level could result in a correction, with key support levels at $3076 and $3067 in focus. Given the broader market conditions and upcoming economic events, a cautious approach remains prudent. 📉 Will Monday bring a correction, or is there still room for another rally? Share your thoughts in the comments! 🚀 ------------------------------------------------------------------------- This is just my personal market idea and not financial advice! 📢 Trading gold and other financial instruments carries risks – only invest what you can afford to lose. Always do your own analysis, use solid risk management, and trade responsibly. Good luck and safe trading! 🚀📊
OANDA:XAUUSD
by Wick-Sniper
The Greatest Opportunity of Your Life : Answering QuestionsThis video is an answer to Luck264's question about potential price rotation. I go into much more details because I want to highlight the need to keep price action in perspective related to overall (broader) and more immediate (shorter-term) trends. Additionally, I try to highlight what I've been trying to tell all of you over the past 3+ years... The next 3-%+ years are the GREATEST OPPORTUNITY OF YOUR LIFE. You can't even imagine the potential for gains unless I try to draw it out for you. So, here you go. This video highlights why price is the ultimate indicator and why my research/data is superior to many other types of analysis. My data is factual, process-based, and results in A or B outcomes. I don't mess around with too many indicators because I find them confusing at times. Price tells me everything I need to know - learn what I do to improve your trading. Hope you enjoy this video. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
AMEX:SPYEducation
by BradMatheny
Bitcoin harmonic pattern. Back to back Gartley. BTCGOLD ratio.The BTC/GOLD ratio has experienced a significant correction, currently standing at 27 gold ounces per 1 Bitcoin, down from a peak of 41, representing a decline of 34%. Gold, priced at $3,114 in US Federal Reserve notes, is in a sustained bull market. It is reasonable to anticipate that the digital equivalent of gold will gain traction once gold stabilizes at a higher price point. The Gartley pattern is recognized as the most prevalent harmonic chart pattern. Harmonic patterns are based on the idea that Fibonacci sequences can be utilized to create geometric formations, which include price breakouts and retracements. The Gartley pattern illustrated indicates an upward movement from point X to point A, followed by a price reversal at point A. According to Fibonacci ratios, the retracement from point X to point B is expected to be 61.8%. At point B, the price reverses again towards point C, which should reflect a retracement of either 38.2% or 88.6% from point A. From point C, the price then reverses to point D. At point D, the pattern is considered complete, generating buy signals with an upside target that aligns with points C and A, as well as a final price target of a 161.8% increase from point A. Often, point 0 serves as a stop-loss level for the entire trade. While these Fibonacci levels do not have to be precise, greater proximity enhances the reliability of the pattern. Will these consecutive Gartley patterns succeed in bolstering Bitcoin's strength? We will soon discover the answer.
BITSTAMP:BTCUSDLong
by BallaJi
XAUUSD - Uptrend is strong, pullback for buysThe gold market is displaying remarkable strength, with the XAU/USD pair recently breaking above the $3,085 level to establish new historical highs. The upward trajectory has been supported by a robust ascending trendline dating back to late February, indicating persistent bullish momentum. While the immediate trend remains decidedly positive, technical indicators suggest a potential short-term correction may be forthcoming, which would likely present advantageous buying opportunities for traders. The highlighted support zone around $3,030-$3,040 could serve as an ideal entry point for those looking to establish long positions, with the expectation that after this healthy pullback, gold will resume its upward march toward the projected target of $3,100 and potentially beyond. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by financialflagship
2
Last Friday, 3085 was shorted to make a profit, next week?Gold fell back on Friday after rising higher, and gold encountered resistance at 3085. However, gold is still just adjusting for the time being. Gold rebounded after the adjustment, and gold bulls are still relatively strong. You can continue to buy gold after it falls next week. After all, gold bulls are strong now, but don't chase it at high levels, and wait for it to fall before buying more. The 1-hour chart of gold still shows a golden cross with upward bullish divergence. After the adjustment, the gold bulls did not weaken, but continued to be strong. Therefore, the decline of gold is just an adjustment. Gold can continue to go long after the adjustment next week. Gold rose again after bottoming near 3067 on Friday. The gold moving average support has now moved up to a line near 3072. Therefore, gold is still a support area in this range. Then if gold falls back to support near 3070 next week, it will still be long on dips.
TVC:GOLDShort
by Fortune-signal
GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We are seeing price play between two weighted levels with a gap above at 3090 and a gap below at 3074. We will need to see ema5 cross and lock on either weighted level to determine the next range. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 3090 EMA5 CROSS AND LOCK ABOVE 3090 WILL OPEN THE FOLLOWING BULLISH TARGET 3103 EMA5 CROSS AND LOCK ABOVE 3103 WILL OPEN THE FOLLOWING BULLISH TARGET 3117 EMA5 CROSS AND LOCK ABOVE 3117 WILL OPEN THE FOLLOWING BULLISH TARGET 3128 BEARISH TARGETS 3074 EMA5 CROSS AND LOCK BELOW 3074 WILL OPEN THE FOLLOWING BEARISH TARGET 3055 EMA5 CROSS AND LOCK BELOW 3055 WILL OPEN THE FOLLOWING BEARISH TARGET 3039 EMA5 CROSS AND LOCK BELOW 3039 WILL OPEN THE FOLLOWING BEARISH TARGET 3020 EMA5 CROSS AND LOCK BELOW 3020 WILL OPEN THE SWING RANGE SWING RANGE 2999 - 2985 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
12
GOLD 4H CHART ROUTE MAP UPDATE & TRADING PLAN FOR THE WEEKHey Everyone, This is a continuation update from last week, which is playing out perfectly clearing first our Bearish target followed with all our Bullish targets with ema5 lock confirmations. We are now seeing a gap left open at 3089 and will need ema5 to cross and lock above this level for a continuation into the next level. Failure to lock will see price reject into the lower Goldturns for bounces or further cross and locks below the levels to open the levels below. We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends. BULLISH TARGET 3045 - DONE EMA5 CROSS AND LOCK ABOVE 3045 WILL OPEN THE FOLLOWING BULLISH TARGET 3067 - DONE EMA5 CROSS AND LOCK ABOVE 3067 WILL OPEN THE FOLLOWING BULLISH TARGET 3089 EMA5 CROSS AND LOCK ABOVE 3089 WILL OPEN THE FOLLOWING BULLISH TARGET 3114 BEARISH TARGETS 3018 EMA5 CROSS AND LOCK BELOW 3018 WILL OPEN THE FOLLOWING BEARISH TARGET 2985 EMA5 CROSS AND LOCK BELOW 2985 WILL OPEN THE SWING RANGE SWING RANGE 2947 - 2918 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
4
GOLD DAILY CHART MID/LONG TERM UPDATEHey Everyone, This is an update on our daily chart idea that we are now tracking for a while now. If you have only started following us, please read the updates below at the bottom from previous weeks to see how effectively we have been tracking this. Now after completing the target to the channel top we stated that if we see ema5 lock outside the channel then we will look for support outside the channel on the channel top for a continuation, which played out perfectly, as the channel top after the breakout provided support for a continuation. We then stated and expected price to play between 3052 and 3007 until we see a break to confirm our next range. We got the test on 3007 with no body close or ema5 lock, which confirmed the rejection and the bounce perfectly into 3052, which then followed with the body close above 3052 opening the range above, giving a nice clean run of over 300 pips. Gap remains open and ema5 lock will only further confirm this but we are happy with the run already and will now continue to buy from dops only. This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn. We will use our smaller timeframe analysis on the 1H and 4H chart to buy dips from the weighted Goldturns for 30 to 40 pips clean. Ranging markets are perfectly suited for this type of trading, instead of trying to hold longer positions and getting chopped up in the swings up and down in the range. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up using our smaller timeframe ideas. Our long term bias is Bullish and therefore we look forward to drops from rejections, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups. Buying dips allows us to safely manage any swings rather then chasing the bull from the top. Thank you all for your likes, comments and follows, we really appreciate it! Mr Gold GoldViewFX OLD UPDATES ON THIS CHART IDEA MARCH 23RD WEEK UPDATE The half line of our unique channel gave the perfect bounce into the next axis target at 2904, inline with our plans to buy dips just like we stated. We now have a body close once again with ema5 cross and lock above 2904 leaving the range above open. We will continue to look for support at the ascending half-line of the channel, as we climb into the range. PREVIOUS WEEKS UPDATE After completing our Bullish targets we stated that the channel top will act as resistance confirmed with ema5 rejection. A break of the channel top with ema5 would confirm a continuation and failure would confirm rejection. This allowed us to identify true breakouts against fake outs. We also stated that we need to keep in mind the channel half line below to establish floor to provide support for the range, should we continue to track further up. A break below the half line will open the lower part of the channel to establish floor on the channel bottom. The safest way to track this movement is by buying dips. - Once again this played out perfectly as we got the rejection on the channel top followed with the channel half line test, which gave the perfect bounce like we stated. We will now either look for a continuation from this bounce or a cross and lock below the half line for a break into the lower channel floor.
OANDA:XAUUSD
by Goldviewfx
6