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Goldforecast

What Will Gold Do?Gold seems to be moving farther and farther down, and what is interesting about the price it's currently at, is how it's trading right on top of the Fibonacci 100% zone. This can either result in a retracement back close to it's 61.8% zone, or it can drop down steeper to it's 161.8% zone. With prices trading around $1,735, means it is sitting in between a current buy zone and sell zone. Determining which one it will reach first depends solely on the momentum either side brings to the table. Bulls could push the price back into a sharp reversal or they can allow the bears to keep dragging prices lower and lower. If Gold can close below it's 100% zone, that will only confirm that it's next possible price target will be down near it's first sell zone out of three. Best thing to do is watch and see if prices start to drop further and you can grasp a sell position going towards the $1,600 price area. However if prices continue to move higher, I wouldn't look for a buy position until it at least recovers 50% of the loss it's already suffered from, or once the trend has completely switched bullish.
OANDA:XAUUSD
by BBDaBoss
Gold near support of 1771Hi everyone in the TradingView community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count! We are going to discuss about XAUUSD Market is moving in a defined range we can expect a breakout to short the market. So we are expecting a strong fall near Support. This is my opinion, I really hope this will be useful for you. This is not a financial advice. Always take trade at your own risk, Be ready and take care your money. Have a great profit ! Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the EMOTT brand based on the legal requirements in his/her country of residence........
OANDA:XAUUSDShort
by Theranasaramd
4
Gold weekly analysis (TF day)Gold has an unusual rose due to market panic from responding of China to the US house speaker's visiting Taiwan last week. However, the US dollar has bounced back, and gold had a minor correction last Friday. Gold is sideways in the upper zone of a downtrend (just above and very close to the upper grey solid line). The market is expected to maintain fluctuations this coming week. The moving of gold price between 1798-1754 is a neutral level to side-way up. If gold throughs above 1798, it could turn around to an uptrend (wave 3). Otherwise, gold below 1754 for a long time might lead it back to a downtrend (wave c). Breaking either edge may rapidly choose its direction. Thus, consider locking in profit when you can make money. The short-term strategy this week is to trade in the channel of 1798-1754 and book each small profit. The market is likely to be choppy. Don't forget to apply your stop loss. Have a good week!!
BLACKBULL:XAUUSD
by ThiMars