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Goldlongsetup

Can Gold complete the breakout with a new leg high? Hi, and welcome to Tuesday's update. Today's focus is on Gold as price continues to trade with inside bars after last Friday's 3% jump. US employment data fueled the rally, and this data sent the USD packing. We're looking for Friday's breakout to complete, but we need to see buyers come back into the market with another firm move higher to show us that Friday's price action is set to continue. Last Friday's close has so far done what required breaking to levels of resistance after re-holding 1626 support. We don't want to see a new close back below 1650, as this could be a sign that buyer momentum was only short-term. We would like to see a new break above 1681.50 or a new higher low above 1665 to continue the idea buyers remain in control. We still feel the USD will play a key role in whether this move continues or not. Keep an eye on this week's US CPI data, which will be released Friday morning at 12:30 am AEDT. Have a great Tuesday and good trading.
EIGHTCAP:XAUUSDLong
by Eightcap
XAUUSD FUTURISTIC PRICE ACTIONPossible Gold wyckoff schematics formation to sponsor the price higher using the H4 Timeframe. This is supported by the rejection on the weekly Timeframe and leaving a confirmation as follows on the support zone of 1683-1680 * 3 touch of the support zone * A retest of the demand zone on h4 * And the 200 moving average resting on the zone. And multiple accumulation forming on the h1. Also paying attention to the structure... the weekly Timeframe is still an uptrend just hit it's retracement level. But it's better to wait for the schematics to be fully formed before trying to markup the phases. Patience is key. #Idon'tknowbetter
FXOPEN:XAUUSD
by simonadahjt
GOLD/USD Daily TA Cautiously BullishGOLD/USD Daily cautiously bullish. *Equities are up and Gold is currently uppish/flat. If you believe that equities are seeing a bear market rally and new lows are in the near future, that very well may be catalyzed by another 50bp (at least) rate hike and the beginning of the treasury security rollover and mortgage backed security reinvestment come June 1st, then you have reason to be bullish on Gold. However, if you think market's have priced this in already and are prepared to surge higher in June, then you may want to reduce your short-medium term exposure to Gold.* Recommended ratio: 80% Gold, 20% Cash. Price is attempting to establish support at the 50 MA (~$1841) for a third consecutive session. Volume remains high (moderate) and is on track to break the two day streak of seller dominance if it can close today in the green (six of the past eight sessions will then have favored buyers). Parabolic SAR flips bearish at $1812, this margin is mildly bearish at the moment. RSI is currently trending up slightly at 46.16 and it's technically still testing 42.06 support. Stochastic remains bearish and is currently trending down at 80.32; it's still technically testing 88.41 support. MACD remains bullish and is currently trending up at -14.69, the next resistance is at -10.84. ADX is currently trending down at 19.92 as Price continues to want to go higher, this is mildly bullish at the moment but would need to form a trough together with more price appreciation to confirm bullishness. If Price is able to break out above $1867 minor resistance then it will likely retest the 50 MA at ~$1910 minor resistance. However, if Price is rejected here at $1867, it will likely retest the 200 MA at $1830 before potentially retesting the uptrend line from March 2020 at $1800. Mental Stop Loss: (one close below) $1831.
G
by dailytaguy
GOLD BULL VIEW - Rare Truncation In Ending Pattern - AriasWaveAs much as I hate to admit it, it appears as though truncation did occur on this chart back in August this year where Wave v never made a new low. The reason I am accepting this view is because the recent price action is behaving much more like the beginning of a Bull Market. If this is the case then we must break above $1814 in order to confirm this count. Critical support will remain at $1758 if no new low occurs which I highly doubt will happen at this stage. Entry: $1814 Stop: $1758 Target: TBA As always, any breakdown below the Stop level before we hit the Entry automatically invalidates this idea. Remember to use Disciplined Money Management Principles to ensure longevity as a trader. If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd? Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
OANDA:XAUUSDLong
by AriasWave
5
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.
TVC:GOLDLong
by piphunters
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.
OANDA:XAUUSDLong
by FFF_Trader