Gold Analyze (Short term/ Symmetrical Triangle)!!!Gold has been moving in a descending channel for several weeks.
During the last 5-6 days, Gold was able to form a symmetrical triangle, and now it managed to break the lower line of the triangle.
I expect Gold to go down at least to the target I specified in the chart (probably to the bottom of the descending channel).
Gold Analyze ( XAUUSD ), Timeframe 1H (Log Scale).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
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Goldusd
GOLD (XAUUSD): Local Bearish Move 🥇
Hey traders,
Gold is approaching a strong horizontal resistance.
The price formed a double top formation testing that.
I assume that the price may drop now.
Initial goal will be based on a rising trend line.
If the price breaks that the second goal will be 1662.
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Please, support my work with like, thank you!❤️
Selling Gold at $1700.Gold - Intraday - We look to Sell at 1698.1 (stop at 1710.2)
Our bespoke support of 1700.0 has been clearly broken.
Previous support at 1700.0 now becomes resistance.
50 4hour EMA is at 1696.0.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Daily signals are bearish.
Our profit targets will be 1671.1 and 1665.1
Resistance: 1680.0 / 1690.0 / 1700.0
Support: 1660.0 / 1650.0 / 1630.0
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Gold : Intraweek Technical AnalysisGold made stayed in a rangebound zone in the start of the week and then broke the support of 1700 and went all the way till 1660. Gold is highly oversold In this range. My idea is to accumulate gold from this zone with initial selling target of 1800. Only long term entries can be made from this level. For short term trading one should wait before interest rate announcement of the USa on 21st of September.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
GOLD try to break long term support GOLD / USD
GOLD try to break the long term support shown in my chart , as you can see price hit the lowest price since April 2020 !
Trigger for bears :
If price closed weekly below 1660$ , bears will lead the market to 1550$-1500$ first support then 1400$-1330$ second support
Do you agree ?
Share with me in comments section below ⬇️
GOLD (XAUUSD): Your Detailed Technical Outlook 🥇
Hey traders,
Important decision is ahead on Gold.
The price reached a lower boundary of a horizontal trading range on a monthly time frame.
Depending on the reaction of the price to that structure, I see 2 potential scenarios.
If the price breaks and closes below the support of the range,
I will expect a bearish wave to much lower levels.
The closest support will be 1500.
Analyzing a weekly time frame, I spotted a falling parallel channel.
If the price breaks and closes above its resistance, I will expect a bullish move.
The next goal for buyers will be 1800 then.
Wait for a breakout, traders, that is the best strategy to follow now.
Be very careful!
What do you expect?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GOLD Today's Next Move H1 Chart 16-Sep-2022 Moving in a small CHGold is now oversold and waiting for buying volume. Today We are expecting a Buying and Selling both in this small channel.
1st Buy is running in Profit and we are waiting for short Sell till 1645-40 and will buy on the reversal in this same Range.
Support me if you like my Work.
Best Regards,
Muhammad Raheel Khan
Forex Pharmacy
Gold trend 16/09Gold cleared the 1680 major support yesterday. The market opened near 1697, and the price had already sunk below 1690(1) early in the Asian session. Before the US session got active, it bounced between 1685-90. Once it cleared the critical support supprot later in the US session, the price went to a new 2-year low near 1660. The day ended at 1664, down by USD 32.
Gold finally escaped the 1690-1730(3) range yesterday, with an initial expectation of a 1:1 movement; the following trading range should be between 1650-90(3). The S-T trend will remain downward unless the price can jump above the S-T resistance line(2) that we mentioned yesterday. The S-T downside target can be set at 1650 for now.
The overall structure shifted from previously sideway to downward for now, as it is the first time in 2 years that the gold price closed below 1695. Expect the price to stay bearish until the US Fed. Meeting next week.
Unless the price can climb above 1700 in the next 2-3 weeks, a double-top pattern(4) in the weekly chart will be formed. The price is currently running in Wave 5(5), expecting the bottom to occur around the US Fed. Meeting.
S-T Resistances:
1780
1670
1665
Market price: 1660
S-T Supports:
1650-52
1645
1640
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P. To
Gold Trend 15/09Gold cleared the 1700 support yesterday. The day began at 1791. The trading was relatively stable during the Asian and European sessions, within the tight range of 1700-07. The price cleared the 1700(1) support late in the US session, pushing the price to the day-low near 1693. The day ended at 1696, down slightly by USD 4.
The market has been quiet since the rapid drop after the US CPIs the day before. An S-T resistance line(2)has been formed in the 1-hour chart in the past 24 hours; gold needs to clear the 1690 support in the European session today. Otherwise, the price will jump back above the downward trendline(2), triggering a new round of buying. If the price breaks the resistance line(2), the S-T upside target can be set at yesterday's high of 1707. On the other hand, 1680 remains the critical support.
The structure hasn't changed much in the daily chart; the price remains in the 1690-1730(4) range. It will be ready to move below 1680 if the price closes below 1695.
S-T Resistances:
1705-07
1700
1697
Market price: 1692
S-T Supports:
1690
1685
1680
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
Gold IdeaPossibility pullback ( Correction ) for Gold
Target 1: 1699.00
Target 2: 1704.50
SL: 1691
Please kindly secure ur position after Target 1
**Scalping Idea**
Sell into the previous support on Gold.Gold - Intraday - We look to Sell at 1713.15 (stop at 1726.30)
Following yesterday's bearish candle, the overall trend lower looks set to continue today.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Resistance is located at 1713.50 and should cap gains to this area.
Resistance could prove difficult to breakdown.
Preferred trade is to sell into rallies.
Our profit targets will be 1679.91 and 1670.00
Resistance: 1713.50 / 1760.00 / 1800.00
Support: 1680.00 / 1600.00 / 1350.00
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.