Gold Analysis 04/10/2020 -- Update 2After taking sells where we banked 90 pips, price broke above the range highlighted on the analysis last night.
Instead of waiting for support to form, I waited for a retest and entered on the retest, so this was effectively a break and retest entry.
As price reached the first target, I secured my entry and moved stops to BE.
Price then reached my next target where I closed more partials leaving a 10% runner and I closed my final positions as we wicked off the resistance zone at 1918.50 securing 140 pips.
Goldbuy
Gold Analysis 29/09/2020We are trading below resistance at 1898, a break of this level could see us long back up to 1905. I have highlighted a potential barrier along the way in the form of a resistance, however if there is enough volume, we can break that level. For buys to be valid, we need to form support above resistance. I am not looking for sells as I do not like the ranges to the downside, any buy I take I would be looking to fill the 70 pip range to the upside.
Gold Analysis 28/09/2020 -- UpdateGold broke resistance and formed a nice support on lower timeframes, this was good confirmation to take buys, with TP at the wickfill and stops below the previous candle, we secured entries at 35 pips and the runner got stopped out at breakeven. So a nice win for the night
GOLD - Potential Next MoveGOLD - It's reversing back from a major support zone, Gaining buyers strength also in 4HR time frames.
My approach is a buy here at current price 1887
Potential Upside target 1899 - 1912
Maintain Stop loss around 1873, As stop loss is little big comparatively my usual trades, I would suggest you to take small lots only.
Traders, if you liked this idea hit the like button & write in the comment section.
Why you should follow this tradingview account ?
Managed by top most renowned trader - Pulak Priyesh
10 + years of trading experience
Professional Day trader
Excellence award winning mentor
Professional chart, clear chart without junks.
Major S/R levels with inner insights
Frequent Day & Swing trade levels
All major and minor FX/INDICES covered
Thanks !!
GOLD - DAY TRADE VIEW.GOLD - It's struggling in this price range and as per the technical chart it's now under over sold zone.
I am expecting a small bounce back in Gold, but my approach is cautious I am going to enter BUY only above 1906
Potential upside 1922 , Maintain Stop loss around 1899
Traders, if you liked this idea hit the like button & write in the comment section.
Why you should follow this tradingview account ?
Managed by top most renowned trader - Pulak Priyesh
10 + years of trading experience
Professional Day trader
Excellence award winning mentor
Professional chart, clear chart without junks.
Major S/R levels with inner insights
Frequent Day & Swing trade levels
All major and minor FX/INDICES covered
Thanks !!
Gold / Long SetupThe price action suggests that gold traders are a little more locked on the U.S. Dollar this week. After a promising start, the greenback has drifted mostly sideways to lower, and is in a position to post a slightly lower close for the day .
Meanwhile, gold has mirrored the move in the dollar. With the dollar’s early spike to the upside, gold plunged, but when the greenback started to flatten out, gold traded higher to flat.
The price action also suggests that short-term gold traders may be a little confused about how to play the stalemate in Washington. Many were betting on another round of fiscal stimulus by now from Washington, but with Congress taking a break until the U.S. Labor Day holiday, it looks as if there may not be a federal government aid package until at least the first week in September.
Meanwhile, the longer-term bullish outlook remains intact. Massive money-printing by central banks, an ultra-low interest rate environment and worries over the economic fallout from mounting coronavirus cases, this all is in Favor of Gold.
Additionally, the Fed’s recent gloomy assessment for the economy is very supportive for gold. Recently, policymakers warned U.S. growth would be muted until the coronavirus was contained.
Anyway i got 2 zones were i am willing to Buy .
Good Luck .
Gold - preparing for a move upwardsHi all traders.
Gold on h4 is showing as a potential inverted h&S confluence with 200ma with rsi pointing in the upwards direction.
With so many confluence, the possibility of a strong move upwards by gold is possible.
If neckline is broken , we will see some bull strength and for further confirmation, trend line must be broken.
GOLD (XAU) ORDER BUY OR LONG (PENNANT PATTERN) UP TO $2280GOLD , We just went through a huge bull wave in gold, the question is is it over? My personal answer is not yet .
Gold is making a little quick adjustment to form a potential bullish pattern "Pennant" .
- Please note that purchases are not allowed if the price is not already in the $ 2010 range.
GOLD (XAU) : order buy : $2010
GOLD (XAU) : target : $2280 +-10
After purchasing the stop loss depending on your campaign, I usually only accept a loss of about 10% per trade. , thanks !