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XAUUSD - GOLD CURRENT SITUATION- UNEMPLOYMENT CLAIMS DATA is due to be released today for the US dollar. PHILLY FED MANUFACTURING INDEX DATA will also be released. And there's another important EVENT FED CHAIR POWELL SPEAK today. It will definitely be the strongest NEWS for USD. - US10Y is currently at 2.87% LEVEL. US10Y LONG TERM UP is going to be with this RATE HIKE CYCLE and this MARKET CONDITION. Also, when we look at the DXY, the DXY is up to 99.95 LEVEL. - GOLD PRICE is below DYNAMIC S / R LEVELS. Most likely the GOLD PRICE will be SHORT TEEM UP in the future. GOLD SHORT TERM has a UP SIDE BIAS. - Currently the OVERALL MARKET is RISK ON. Also the STOKES are turning a bit GREEN. COMMODITIES gives us a slightly MIXED RISK TONE. So I'm a bit reluctant to be a HIGH BEATA CURRENCIES BUY. Anyway VIX is getting a bit DOWN right now. Also BONDS PRICES show a slightly NEUTRAL BIAS. But BONDS SPREADS are getting GREEN. MARKET currently has a MARKET ENVIRONMENT with a NEUTRAL BIAS close to RISK ON. - GOLD PRICE can be UP again before DOWN. So GOLD can definitely go back to the 1980 LEVEL. Then you can definitely DOWN GOLD price up to 1817 LEVEL. - However, the bigger picture will change if a new sentiment enters the market or the market takes a risk to strengthen the US dollar first
OANDA:XAUUSD
by benny_marshall
1
GOLD 240 Three Pattern tradesGreetings, As you can see in the chart we have a nearly completed bat pattern(orange) and are currently waiting for a retrace to D for our entry. My expectation is that its profit target(B) should be forming the second pattern, namely the head and shoulder pattern. Normally you would wait for the break of the neckline but the probability here is high enough in my oppinion to open the trade at B of our orange bat. Which even if it fails will still leave you in profit thanks to your winning trade(if both trades risk the same percentage). If it succeeds you have enjoyed a healthy risk - reward ratio trade. If everything still goes according to plan we will be on our way to the highest probability trade, namely the blue bat pattern. The one thing that gave me the courage to post this is the intersection of the pitchforks trendline. Everything here seems to go hand in hand, these three patterns are all in "harmony". Note that the trendline at 1182xx could be hit due to head and shoulders wanting to complete there. I would love to hear your thoughts, additions, corrections or any other feedback! Cheers :)
TVC:GOLD
by dinnersticks
2
Gold Analysis : What's brewing in Gold ? Bullish or Bearish ???Hey Guys, Early Bird View : Though its very early to expect both Gartleys,Coming week FX:XAUUSD Gold has provided us with Dual-potential Gartleys .No matter whether market moves up or down if our plan allows us we will be taking positions depending on which Gartley gets to complete first. If we are lucky enough, we will have Bullish Gartley completion around 1060's and ride the move up which gives us opportunity to enter Bearish Cypher - Only if Bullish Gartley pans out well for us. Bearish Gartley is still possible who knows still market can prove that we are wrong and can move any direction as it wishes to. Its not exact trade idea, just an analysis on scenario's for Gold next week and we can look for possible entries around those pattern completion regions. Hit Thumbs Up to Like & Share / Comment your views too :)
FX:XAUUSD
by InsiderB