Gold Trend 21/09Awaited Fed. rate decision, gold prices remained stable yesterday. The day began at 1675, where the price overall was trending downward throughout the early Asian and European sessions. It cleared the S-T trendline(1) at the US session and traveled all the way to 1660, the daily low from the day before. The day ended at 1664, down by USD 19.
1660-80(2) can be used as an operating range before the US Fed. An announcement later on today.
Since gold cleared the 1680 support, the downward resistance line(5) is dominating the daily chart trend. The S-T support 1665(4) is still in effect. The Fed. announcement will take over the next major movement.
S-T Resistances:
1687-90
1680
1670
Market price: 1666
S-T Supports:
1665
1660
1650-52
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2X GOLD BELOW 1600?? GOLD has been getting hammered since March '22. I think they are trying to drop Gold as low as they can but slowly. Due to rumors of a recession and possible the fall of the USD$, I think they want to buy Gold at the lowest price they can. 1650 is a key area, really a 2 year support area if it breaks through there its dropping hard!
Gold Short Opportunity Leading up to the Fed news on the 21st ; aswell as the breaking through of a major support area at 1680 - 1660 we can most likely see Gold riding a Bearish drop to the stronger supports around 1600 .
As always, never risk more than 1-3% of your account per trade and to maintain a RR Ratio above 2+ because not every trade will go your way.
Hope this atleast can help give people ideas for trades across the rest of this week.
Opinions?
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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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 $1700.Gold - Intraday - We look to Sell at 1698.1 (stop at 1710.2)
Our bespoke support of 1700.0 has been clearly broken.
Previous support at 1700.0 now becomes resistance.
50 4hour EMA is at 1696.0.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Daily signals are bearish.
Our profit targets will be 1671.1 and 1665.1
Resistance: 1680.0 / 1690.0 / 1700.0
Support: 1660.0 / 1650.0 / 1630.0
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Gold : Intraweek Technical AnalysisGold made stayed in a rangebound zone in the start of the week and then broke the support of 1700 and went all the way till 1660. Gold is highly oversold In this range. My idea is to accumulate gold from this zone with initial selling target of 1800. Only long term entries can be made from this level. For short term trading one should wait before interest rate announcement of the USa on 21st of September.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
GOLD try to break long term support GOLD / USD
GOLD try to break the long term support shown in my chart , as you can see price hit the lowest price since April 2020 !
Trigger for bears :
If price closed weekly below 1660$ , 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?
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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