Goldlongsetup
GOLD intraday long opportunity The commodity has recently broken out of a channel down to the upside and after the impulse we appear to be forming an expanding triangle structure which would mean price is expected to hit the topside of the triangle soon presenting an intraday long opportunity, we will be observing what happens when price hits the top, I am expecting a rejection giving us a new opportunity to go short until price heads to the bottom area of the triangle, should happen in the coming days.
Gold buys.In this trade I am going to be looking for buys above the hourly resistance at 1812 and then I would love to take the long trade to run up and fill the four hour wick at 1825.
The biggest issue we could face is that the current resistance found at 1812 for the past few days and then the next resistance will be 1817.
Exploring gold buys.In this trade idea i am going to be looking for gold buys.
1. Gold has been coming up to the resistance level found at 1790.
2. Gold created a double bottom.
3.gold has been creating HH and Hl since 1856.
4. Inflation is still at record highs.
5. Unemployment rate is up to 5.9%
Due to these reasons I will be looking for gold buys. However what i will be waiting for is for gold to break the range impulse and then come down to the old level of resistance turned in to the new level of support on the higher time frames 4h and up.
Gold - Buy Bias Good Traders,
Gold is presenting good opportunity for buy. Upward trend.
On the 1hr gold has tested our 78.60% fib level twice creating double bottom.
Its Monday, reduce your risk and most importantly manage your risk.
In the long term Gold looks like a great buy but its the short term fluctuation that wreck our emotions.
In the game of trading we need strong mindset and have the guts to cut our loss early.
Good luck Traders.
Lenin
GOLD - Tracking Minor Waves - Looking For A Re-Entry?Yes we are already in this trade (see related ideas below) however if you are not then this might be of interest.
Just looking into the waves at small degree I found some interesting things going on with Wave 2 of this move.
At the open on Monday, Wave 2 expanded to the upside which indicates some major strength behind this move.
I would say these levels hold potential significance.
Entry: $1946
Stop: $1929
Target: $2300
Let's see what happens next.
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TIME FOR A GOLD BULL RUN - Wave Revision - Wave (C) Starts NowDue to the break of a key level for the bearish view we now have to look at the bull view.
Remember to follow the instructions properly in order to prevent entering a trade if conditions are not met.
Safe Entry: $1907.00
Safe Stop: $1855.00
Safe Target: $2250.00
Risk\Reward Ratio: 6
Aggressive Entry: At Market\Open
Aggressive Stop: $1885.00
Aggressive Target: $2300.00
Risk\Reward Ratio: 26
Also make sure you use sound money management rules to ensure longevity.
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GOLD - Long Trade Idea - How Will You Trade This?This relates to the video idea linked down in related ideas.
Due to the break of a key level for the bearish view we now have to look at the bull view.
Remember to follow the instructions properly in order to prevent entering a trade if conditions are not met.
Safe Entry: $1907.00
Safe Stop: $1855.00
Safe Target: $2250.00
Risk\Reward Ratio: 6
Aggressive Entry: At Market\Open
Aggressive Stop: $1885.00
Aggressive Target: $2300.00
Risk\Reward Ratio: 26
Also make sure you use sound money management rules to ensure longevity.
Please LIKE and FOLLOW to get notification of updates and future posts.
XAUUSD: Another Rally to $2000?Hi Traders,
I'm forecasting a long setup that will rally past the current high of 2075, and perhaps reach the 2100 level.
If price hits our invalidation level, it simply indicates that this current wave down is not yet complete (it may end in a diagonal).
Consolidation at current levels will confirm a long entry.
Trade with caution and enter will small sizes.
Regards
Wave Theorist