Gold Bullish Reversal TradeXAUUSD, gold testing historical strong support level 1277 low of january 2019.
Goldtradeidea
Massive Explosion UP; Gold Cartel Tactics playing "Ping-Pong"Looks EXACTLY like the December 2015 / January 2016 action in gold. Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
Gold forms another pin bar at key support zoneGold – Gold forms another pin bar at key support zone, will it move higher?
Gold has been buoyant and a potential buy at support near and just above 1300.00 key level. We can see that price pulled back last week to 1313.00 area and Gold formed a small bullish pin bar there on Friday, indicating price may bounce higher from that support again this week. More conservative traders may elect to get long down closer to 1300.00 on a signal or a blind entry there. We remain bullish in Gold above 1300.00
GOLD ( Long Term )We may get a big short on gold next week back to the 1240-1230 area. If it happens, I expect it to pull back into the 60-70's so the weekly candle will have a nice wick. Leaving us with another Monthly candle like March.
Here's my long term idea. Imagine the red arrow to fractal & be a mirror for the green arrow. When we break the green line, we may get moves similar to the ones in the orange box.
Thanks for checking my chart out!
-PP
XAUUSD @ daily @ Recovering into FED & ECB dates while 1st Q. ?Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
long XAUUSD @ 15 min @ trading capability for this 52nd week `16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Long Gold for RSI and BBands signalLong gold at current price (1218) with a stoploss below 1200, which is Triangle base and mid-term support ( Gold has bounced back twice at this level. Also there are two price & RSI divergences as shown on the chat by blue and red line. Also lower low made yesterday is within Bollinger Band's lower band while the earlier low was outside it. It signals a turn back.
Short GoldRed line is the Support on the daily time frame .
Waiting for gold to either pullback to 1250 and continue downwards.
Black dotted line is the support area on the 4 hour time frame .
I have my Short order 5 pips below the Black dotted line
Stop lose placed 5 pips above 1250 .
Gold - Weekly stochastic extremely oversoldWhen in doubt take a look at the bigger picture!
So far gold has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence.
Looking at the slow stochastic it is extremely oversold and would need another two weak weeks before being able to embed. The much higher probability is a bounce in the next two weeks...
XAUUSD BUY TRADEPRICE SHOULD TEST AGAIN THE 1309.47 FIB LEVEL.
PLACE A BUY ORDER AT 1309.47.
STOP LOSS AT 1296.04
