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Goldbullish

Gold Fake Out Play at 1,700 Level1-Hour: Price crossed below the 1,700 level and quickly retraced above it. It tested this level again, but held supported as well. This is the third wave where we're expecting bullish momentum to build up. 1-Day: This 1,700 level is also apparent on the daily timeframe. However, we might end up seeing this pair range as it pulls away from this level. As a result, as I set a modest first target of 1,722 and will wait to see how momentum plays out closer to that level.
OANDA:XAUUSDLong
by FinancialGamblR
2
GOLD SUPER LONG-TERM SCENARIOS EXPLAINED GOLD is unstoppable right now and is soon to storm the 1800 key level. The only question is- what we get to see: 1- An optimistic scenario, drawn with a green line, where there is a retest of support after a breakout towards 1900, and then a strong move up into the 2300/2500+ in 2-3 years. OR 2-A pessimistic scenario, drawn with a red line, where the breakout turns out to be a false one and GOLD returns below the 1800 level and gets stuck in there for another accumulation period for another 5-10 years. It is clear by now, that the general uptrend will continue and that a super long term outlook is certainly bullish, but just how bullish is a question for 8 trillion dollars, which is the current total gold market cap. It is clear that the 1500 level is the new absolute bottom, and that we will never see gold cheaper than that again, so should gold choose the second scenario then buy near 1500-1600 level.(unless Earth isn't hit by a massive asteroid full of gold anytime soon) An example of what trading will look like in a pessimistic scenario can be seen in the blue rectangle around the lower accumulation zone. The fundamentals beyond the gold growth are the usual culprits: central banks printing money, fears of inflation, the increased demand for a safe haven other than dollar, negative rates and, possible stagflation. There is a remote potential for the gold to come back as a funding vehicle, when people, companies and states will be borrowing and transacting in gold. That would have us see gold=10.000 and more. Guys, hit that like button to support me, subscribe for more analysis and comment, what do you think? Share your experience and wisdom with us! Wish you all good luck in your trading!
TVC:GOLDLong
by ProSignalsFx
16
XAUUSD / GOLD - Bullish Gold is bullish... Buy now and hold till you can.... you will never disappoint and i repeat. price was reversed from the 0.382 fibo level to upwards and bottom line of bollinger band is providing strong support to push gold much as high. RSI history data shown us that if price was reversed from 40.16 level price gone up. you can see the round circle of in 0.382 fibo level how is the price movement. From all of these confirmations, what i can tell is GOLD is back to his bullish momentum till 1600 or more for long term. Note: Trade at your own risk and fundamental can affect to the analysis but no so much :) Like and comment on us. share your ideas...
OANDA:XAUUSDLong
by TuanMSallay
20
Is GOLD finally bullish?We can see price has broken a key trendline acting as resistance. Price has not retested such breakout, for we ought to wait for a pullback if we want to go long. Could this be only a long term pull back? Will price bounce back down between 50% and 61% Fib retracement? Is gold on it's way back to 1,300s? I recommend you set your initial targets at A: 1240.00 B: 1265.00 Should price continue to break them higher, move along the trend with the market. Best of luck!
FX:XAUUSDLong
by Felipersan24
Bulls taking control? In correction to my previous analysis in which I miss-used the pattern called "bullish pennant", I now show a trend line acting as resistance for Gold in the range between 1208 and 1214. The idea is to trade the breakout of this trend line as it has been an important zone of resistance for Gold for past weeks. See also a major trend line on the Weekly chart and appreciate how the market has respected it. Price failed to form a double bottom at yearly lows between 1160s and 1170s. The breakout of a key pivot point between 1193.00 and 1195.00 is also a sign that there might be intentions of a change in trend. Is this a good opportunity to buy and hold Gold? Best of luck!
FX:XAUUSDLong
by Felipersan24
2
Gold Reversal - Medium Term Bullish OutlookEntry and Exit Strategy are highlighted at the end of my analysis. The following analysis points out that a bullish reversal in gold is likely. My analysis a couple of weeks highlighted that a reversal was imminent, however, my analysis was slightly too early. As such, I have re-evaluated my position and analysed fundamentals in the market to better gauge what will move markets this month. The US dollar index, DXY, is poised for a bearish reversal. On a weekly chart, it is showing the first bearish candle in a while. Currently, there is little evidence to suggest a continuation in the bullish trend for the USD. The Turkish Lira is in a free fall one minute and reaching for the sky the next minute. Subsequently, Turkish equities, debt markets, basically any securities tied to Turkey have the same status as shitcoins following the BTCUSD collapse. This is particularly buoyed by perhaps the two most stubborn and misguided administrations in politics and economics currently: Trump and Turkish Government. There is also so much other fundamental analysis that can be discussed but I will save it for now and highlight it another time. So, on to the technical analysis... On the chart, as you can see, is one of my favourite reversal chart patterns - the bump and run. This is particularly strong as the trend is always bound by the lower support line, for a continued period of time. In this case, the down trend began in the second week of May (over 3 months ago) and the bearish bump only lasted a week or two at most. These are common signs of the bump and run chart pattern. The bears in this case, had their final push lower before conceding. This is particularly enforced by the extended hammer candlestick followed by an immediate bullish engulfing and continued bullish candlestick. My previous analysis highlighted that was significant divergence on RSI, Momentum and MACD. Although it continued lower and corrupted all my analysis, it is still a really strong sign of market indeterminacy and conviction. This was also supported by the lower volume levels, the strongest indicator showcasing reversals or continuations. To strengthen my analysis and confidence in this reversal, I have illustrated two contingent measures to increase the likelihood of a reversal confirmation. The first being, there must be a close above the the existing black trend line. A full close above it, there candle should be fully above the trend line. This would be around the 1187/88 mark. The other measure, is that XAUUSD must close above the conversion line (blue line) on the Inchimoku overlay. Again it must be a full close above no body or low of the candle should touch the conversion line, when these two conditions are met, there is a high likelihood of a bullish reversal or at the very least a 20-40 point re-tracement. As such, I have illustrated an entry and exit strategy given all the available information. Outlook: Bullish Time Frame : 3 weeks - 3 months Entry Price: $1190 -1195 (contingent upon conversion line and trend line cross over) Take Profit: $1299 Stop Loss: $1160 As always, this my analysis, please comment and follow my posts, I always read your comments (and criticisms) and try to incorporate your thoughts into my analysis for future posts. If you would like any specific markets to be researched or analysed, write a message and I will get back to you.
FX:XAUUSDLong
by Dubsta000
5