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GoldViewFX - Market UPDATEHey Everyone, Another fantastic day at Premier. We waited patiently for a new Goldturn low and then identified a signal to 1707, which was the perfect exit. We still have the gap open to 1695 on this chart, which is playing out perfectly! and also 1685 on the chart below. These levels are still within the support and swing range and therefore we are not comfortable shorting to these levels at support now. We will use this instead to keep exits tight on buys and try and get the sweet entries for the run up once the momentum below has found floor. EMA5 break and lock above 1738 Goldturn will fail and break the rising wedge pattern opening the upper range upto 1761. A rejection below 1738 will maintain the rising wedge pattern until we see the breakout geared for the break below to retest 1695 in line with the formation. This TARGET 1695 is still open!! As always, we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
6
Gold is ready for huge drop (Double top soon in play)On 2nd September I've written that Gold could drop under the 1680-1690 zone, confirming a large double top pattern. Also, yesterday and on Monday I draw attention that the recent rise is ONLY a correction and not a genuine reversal. And, indeed, yesterday, on the back of CPI data, Gold dropped more than 300 pips from top to bottom, negating a week of growth. So, what's next? Looking at the posted daily chart we can see that the trend is very bearish with a sequence of 5 lower highs at this moment and also from mid-June, Gold is trading in a descending triangle. I consider the recent correction finished after yesterday's reversal and I expect a drop under important 1680-1690 support. Considering the importance of such a break and the possibility of large SLs under this level, I expect acceleration to the downside and a strong bearish move in the coming weeks. The longer-term target can be 1500 and if you are "scared" of a 2k pips drop, all you need to do is to look at the March- April drop followed by the June-July drop, which is also 2k pips. So, the triangle's target is not only not out of the question, but very probable. My 2nd Sept analysis: Monday analysis: Yesterday's analysis: Best regards! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
24
Gold- Is this correction over?In my yesterday's comment I said that, in my opinion, the rise from 1690 support is just a correction, not the start of a new bull leg and my opinion remains unchanged. This correction has continued yersterday and as I expected, a spike above 1730 took place. However, looking at the posted chart we can clearly see that the structure lacks impulse and is overlapping suggesting that a reversal is imminent. A first indication that the correction is over comes with a break under short term trend line with further contirmation with a drop under yesterday's low. I'm looking to sell Gold
OANDA:XAUUSDShort
by Mihai_Iacob
4
Gold- 1725-1730 zone is the line in the sandYesterday, after a new visit at support, under 1700, Gold has recovered losses and finished the day well into the green. However, the trend remains bearish both in the short and medium term with a clear strong confluence resistance above 1720. I will remain bearish as long as this level is intact and expect a new dive under 1700. On the other hand, a fail from the bears to defend this zone would signal 1690 as a bottom for the time being.
OANDA:XAUUSDShort
by Mihai_Iacob
24
Gold will Target the new Low. (Daily)Hi Everyone, Gold fail to break the resistance yesteday and gold also break the support range. High Probability (75-80%) gold will aim for the Lower price and seems it will make a new Lower Range later around (1640 - 1730) or maybe if FED hike more than 75bps on 20-21 Sept 2022, it will make a lower range from 1600- 1680 to trade next month. i try to always we will keep you all updated . Please don't forget to like, comment and follow to support us, i really appreciate you support ! Goodluck i'll help you to have a great trade. Please using good money management. dont take any emotional trade. Note: Dont risk more than 0.2% on trending market Dont risk more than 1% on ranging market Wish good luck for all people. Please help support me by Clicking like button, and if you like my ideas please follow me and support me. i Relly Appreciate it! i'll make more and more great analysis if this chanel grows. on Gold , Oil , Nasdaq, SP500 , and some American, China, Japan, Indonesia stocks. Best luck for you. Cheers mate! Thankyou.
FX:XAUUSDShort
by LaurentWilvyne
2
Will Gold break under important support?On my Monday commentary, I said that 1720-1730 should be strong resistance and rallies towards that zone should be sold and, indeed, after an overnight spike in that zone yesterday, the price reversed strongly leaving a long-tailed red candle on our daily chart, a clear indication that bears are in control. At the time of writing Gold is trading under the 1700 figure and a continuation to the downside is very probable. I expect a break of support in the near future which will also confirm a large double top that we've spoken about on Friday. The strategy should remain the same: Sell rallies and this bearish outlook is valid as long as the price of Gold is under yesterday's high. Monday's Gold analysis: Friday's Gold analysis:
OANDA:XAUUSDShort
by Mihai_Iacob
8
Sell rallies is my strategyAs almost everyone has anticipated, Gold reversed from 1680-1690 zone support and now is trading 200 pips above this important zone. However, in my opinion, this is not a reversal of the leg down from above 1800 started in mid-August, but just a correction. Looking at the posted chart we can see that above 1720 is a strong confluence resistance given by the horizontal old support and the falling trend line and here traders shoul look for selling opportunities. Only a daily close above 1730 would change this mid-term bearish outlook. Best regards Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
33
Will Gold drop under 1500? (Long term view!!!)In this post, I will focus on an overview of Gold and what could happen in the long term. In the short term, everyone saw the support from 1680 and is aware of the possibility of a rebound... So... Looking at the weekly posted chart we can see that after the high above 2k back in spring, Gold has started to drop, putting in lower highs on our chart. After the touch of the long-term trend line in May, Gold reversed, but soon after, in June, has broken under and quickly dived to the 1680 important zone. In July we again have a rise, just to be completely erased by August price action. This whole dynamic gives me an indication that Gold could drop under 1680 and by this, it will also confirm an immense double top pattern that took two years to complete. That being said, I'm more inclined to a continuation to the downside when it comes to medium-term price evolution, and considering the measured target for the double top pattern, we can see Gold trading under 1500. In the short term, we can have a rally, but in my opinion, it will be short-lived and should be used as a selling opportunity for swing traders.
OANDA:XAUUSDShort
by Mihai_Iacob
38
EURUSD SCALP SELL NOW!HI Team, See linked post for in depth GOLD analysis this week, which covers all USD news. Look out for news later today at 1300 GMT. Currently in a daily Elliot ABC ascending correction, and looking for breakdown soon. Safest sell is within the ascending channel, but worth looking for a breakdown of that with at least one position. I expect a small 30M timeframe retracement, but if we do not get it, sells on break of shown trendline, safest first TP and point of SLBE would be floor of this corrective channel. Good Luck, Trade safe DrBear
Short
by DrBear
GoldViewFX- DAILY CHART UPDATED SETUPHey Everyone, Please see our updated daily chart setup. This is just for this week and not to be mixed with our long term daily chart setup (SEE BELOW), which we have been following. DAILY CHART LONG TERM SETUP (1816 OPEN TARGET) The new daily chart setup is for this weeks movement only and JACKSON HOLE. We can see FRIDAYS candle close with ema5 crossing MA21. A new daily candle open this week will confirm the lock confirming momentum down with daily chart support at 1709. Daily chart next resistance level is at 1755. Any immediate momentum up with a break above 1755 can invalidate the EMA5 cross ma21 so it will be wise to let Mondays movement play out to establish a true range in this setup. As always we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
7
GOLD THIS WEEK STEP ONE SELLHi Team This is stage one for this weeks gold trade. See linked post below - we rose as expected on todays news, and rejected as expected from the descending weekly resistance. Now if the time to enter out first sell attempt. I would advise SLBE as soon as possible, and if price slows down at ascending channel support, suggest closing half positions out. Tomorrow is a big news day too, and should see the Dollar rally. Please remember that small lot sizes make good money. There is no need to over trade. Good luck, trade safe DrBear
TVC:GOLDShort
by DrBear
3