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Goldong

GOLD M30 / LONG TRADE EXECUTION ALERT ❗️💲Hello Traders! This is my idea related to Gold M30. I expect a bullish move to close the FVG. The bearish sentiment on the market is still bearish, and I consider this indicator a good chance to look for long entries. My target is under the OB level. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
TVC:GOLDLong
by GoodTradeST
Gold Long Opportunity Hi Traders, Over the last few weeks we have seen gold decline after hitting strong resistance/supply at around 1830, following FOMC minutes, which was less a than anticipated result, gold spiked to find some liquidity around 1787 and crashed again finding support around 1737 area and resting the week on a weekly support around 1750. We find that gold has had a healthy correction to the 61.8% fibonacci retracement from the low of 1676 to 1830, correcting to 1737. This price action forms an ABCD pattern with a 61.8% retracement - common for the start of wave 2 of an impulse wave and C in an ABCD pattern . We would look for an extension to 1895 for the complete ABCD pattern where AB = CD. However, we have strong resistance / supply around 1833 which could stop gold , with the recent news of the USD not doing so well under COVID pressure this could be the start of the next covid economic wave, hence the FED not tapering in the recent FOMC meeting. There is also a falling wedge forming on the 4H chart as shown in the above with a strong bullish divergence on the RSI . We are also forming a right shoulder on the daily chart - a break of 1833 neckline could see 1850 - 1900 quite easily. I personally feel we might dip a little to test 1740-42 again before starting the run to 1830 and more possibly. With this being said gold is looking bullish fundamentally but is still in a somewhat downtrend with a lot of selling pressure technically. I believe that despite this we could have a change of hands around this area given the fundamental news of late. Please trade with caution. This is not financial advice.
OANDA:XAUUSDLong
by Username_for_trading
6
XAU/USD Buy Before Bulls Step InGood day, snipers. Here we are again on an analysis on Gold. I am looking for price to retest that support zone and 50% Fib Level before going for a long order, for better risk : reward purposes. This price movement is to be believed as a consolidation period after Gold hit all time highs since the past few years. We ride the overall uptrend and I will just be looking for long positions now. Take Profit 1 will be placed on the Strong Resistance Level and Stop Loss just below the support and 50% Fib Level. Follow me on tradingview for more ideas and sniper entries. If you liked this idea please click that thumb's up. Ideas posted are not financial advise, but merely just to give insights and education for traders. Past performances do not determine future gains. As sniper traders, we tread carefully, then we take shots immediately. Join the discussion down below.
OANDA:XAUUSDLong
by SniperFXFree