Goldfutures
XAUUSD Sell SignalPattern: Ascending Triangle.
Signal: Bearish as we are approaching the Higher High Sell Zone.
Target: short-term = 1750 (the Higher Low of the 4H Channel Down), long-term = 1715 (that is if 1740 breaks).
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XAUUSD Trading planPattern: Channel Down on 4H.
Signal: (A) Bearish is the (red) Higher Lows trend-line breaks. Bearish extension below Support 1. (B) Bullish if the 1746 Resistance breaks.
Target: (A) 1695 (Lower Low of the Channel Down), (B) 1760 (just below the Yearly High).
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☆ XAU / USD GOLD — Gold Trading ☆Hello! Gold providing good signals for growth.
For whole 32 days we was in triangle/flag pattern
In Elliott Waves, usually 5th wave on gold have extension. For example on stocks we see extension of 3rd waves.
Please consider to trade with affordable risk.
Stay in touch
this is Artem Crypto.
XAUUSD GOLD SPOT: The Future of Gold???WELCOME TO MY PAGE AND FEEL FREE TO LIKE AND SUPPORT BY FOLLOWING, I hope everyone has a great day in the market today = )
Chart above shows XAUUSD in H1 Time Frame. Continuing from our previous idea, XAUUSD Gold has indeed followed our plan as stated, a BREAKDOWN from the top of the channel line (GREEN) towards the bottom.
Now, we look for how GOLD reacts at the support levels @ 1690 region:
- A REBOUND definitely means a LONG opportunity to the top of channel line @ 1717-1720 area
- A BREAKDOWN from support level @ 1690 would likely mean a major trend reversal for gold (Bullish to bearish)
Following a breakdown would likely mean a retouch of the bottom of channel line, rejection then SELL pressure to our next major support @ 1671
Fundamental Analysis:
As always, it is good to supplement technical analysis with confirmation from news signals, thus allowing a higher rate of profitability and wins.
- A possible strengthening Dollar this week beginning
- Gold prices had been supported last week by market signals suggesting that U.S. official interest rates could turn negative next year as the Fed is forced to resort to ever-more dramatic measures to support the economy. Two senior Fed officials – Atlanta Fed President Raphael Bostic and Chicago counterpart Charles Evans – may both touch on the subject when they speak later Monday.
- Flow of hot money into gold is easing off : Physical demand from Indian retails suffer due to higher prices and a weakening rupiah
- World Gold Council data suggest imports fell 50% from a year ago in the first quarter, while Chinese imports fell by 62%.
Notably, many ETFs who have held gold since May may begin a slow sell off with their inventories to secure profits as they respond to news and the reopenings of economies.
OVERALL TREND, Im Bearish on Gold due to the above reasons.
Of course things can change and to watch out for:
1) Implementation of Negative rates by Fed --> implies a backwardation of fiat monetary system and a shift onto gold instead (You can read about how it works here--> www.goldmoney.com)
2) News of second wave of Pandemic
As always, good luck with all your trades and FEEL FREE TO LIKE AND SUSCRIBE IF YOU LIKE WHAT YOU SEE
Regards,
GOL D ROGER
Gold Futures- Position idea.SwingHello , everyone,
Remember to choose a trade size that fits your budget and doesn’t over-leverage your account. Markets can be unpredictable so ensuring you protect against excessive losses is important to your long-term success.
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ATTENTION : The content presented in this publication IS NOT financial or Investissement advice, you are totally responsible for how you manage your capital.
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