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Golddrop

Gold Eyes $2,604 and $2,562 TargetsGood morning traders, Trust your day is off to a great start. Take a moment to read my analysis of the Gold market, and give your view. Overview Gold is currently trading at $2,662.25, caught between a bullish and bearish triangle range. This follows an impulsive upward movement from Friday’s low of $2,612.89, driven by the Non-Farm Payroll (NFP) data. However, the upward momentum appears to have stalled, with price action signaling potential reversal patterns. Idea The price formation resembles a double top, a bearish pattern, with a strong resistance zone above, suggesting a possible downward move. If the price breaks below the neckline, it would confirm bearish momentum. Key support levels to monitor include $2,604.59 and $2,562.67. Conversely, if the price breaks above the $2,689.29 resistance level, the bearish scenario would be invalidated, signaling a continuation of bullish momentum. Conclusion Gold's current price action presents a mixed outlook. While the double top and resistance zone hint at a bearish move, the market must confirm this by breaking the neckline. Cheers and happy trading!
FX:XAUUSDShort
by Samuel124
XAU/USD to continue dropping?From both technical and fundamental analysis I believe we should be seeing the beginning of a gold drop. Gold has been nothing but bullish with extreme euphoric movement. Following Donald Trumps win in the American election we can expect the dollar to begin its bullish ascent meaning that its time for the XAU/USD to finally start its descent. from my charts we can see that I predict a slight bullish move from the market open reacting of an 8H Imbalance taking Asian high liquidity from the upside and reacting from another 8H IMB to ultimately continue in its downtrend at least until the daily zone that caused a previous break of structure to the upside.
OANDA:XAUUSDShort
by JamelCapital
Gold Price Prediction In this idea I share a couple of concepts with you. The formation know as the scallop comes in 3's. These formations are in every time frame. They just one of the repeating fractals throughout chart movement. For example: 3 ascending scallops on the 30 minute would make up roughly 1 in the 60 minute chart. To keep track of this I borrow scale designations from Elliot Wave. Here in Gold if you look through my chart you will see the largest(Grand Major) set of scallops coming to completion with a double top signaling the reset into a set of 3 descending scallops. I have marked the projections as I see them playing out on a "Major Scale", but have included a possible target for the "Grand Major scale for the bottom as well as a top side for the double bottom that comes from the falling wedge that is forming coming to completion. Every fall in my opinion is a falling wedge in one form or another with slight features warped due to bullish/bearish sentiment that pulls it outside the parameters of what the constricted rules of line drawing would have us adhere to. The next step in the pattern is the double bottom that will start the uptrend. If you agree throw me a like and follow me for more unique ideas and concepts that keep you in the gains-ND Much love to my supporters
TVC:GOLDShort
by The_New_Disciple
2
Wondering why GOLD drops? Here is WHY!Hey tradomaniacs, lots of Robin-Hood-Traders are asking themselfs: Why is gold and silver dropping? Well it can have a lot of reasons such as Profit-Saves due to the overbought situation, the fact that stock-market continues to climb and SPX500 is almost at its All-Time-High (portfolio turnover). It can be the fact that DXY (US-DOLLAR-INDEX) is oversold and so likely to retrace. There can be a lot of reasons but one very obvious correlation that makes sense: US BONDS YIELD went straight up after hitting an all-time-low. Why is that? When there is still uncertainy and fear the stock-market all the institutional traders are looking for save havens. Save havens are usually alternatives to stocks such as metals, currencies like YEN and CHF or BONDS as you get a safe and fix return for your investment. But what if the interest rates are too low? You look for alternative assets which are not interest. Gold has always been a save haven, which is the reason why the current rally makes no sense. Why would CHF, YEN, metals such as Silver and Gold climb at the same time? Because the market is uncertain! Gold currently has a negative correlation with US-BOND-YIELDS as it is a no interest asset and a good alternative for a low-interest-market. Watch these YIELDS when you do your analiysis for gold. ;-) LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
FOREXCOM:XAUUSD
by Trading2ez
1