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Gold Trend 07/07Gold touched a new 9-month low yesterday. After the market opened at 1765,m the price was bounded by 1765-72 throughout the Asian and European sessions. The selling momentum has resumed as the market approaches the US session. Once the price cleared the support at 1750(1), it went to a day-low near 1731. The day ended at 1738, down by USD 26. Gold seems to have found an S-T support near 1730. The fall originated from 1800 should slow down as long as the price can stand above the S-T resistance line(2). The operation range has shifted from yesterday's 1750-83 to 1730-65(3), where S-T resistance sits at 1750 for now. The price has reached our target of 1730 within 48 hours after it broke the critical 1800 support on the daily chart, and the 1:1 pattern (5) is completed. The downtrend channel(4) remains valid; wait for the next pattern to form for now. S-T Resistances: 1765 1760 1750 Market price: 1746 S-T Supports: 1738-40 1730-31 1720 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
TVC:GOLD
by 1uptick
Gold Roadmapping IdeaLast night I was looking for a 50% correction and continued downside. However, within the yellow box shown above, we just had orders accumulated and an impulse break down to 1735 area. We are having a bit of a pullback, but I would still be looking to short gold. We broke 1760 so a retest of that zone is possible, but if gold fails to break 1750 first, id short it back down to 1735-1740 area. I would only look to buy gold above 1772 if it were to break the accumulation we had in the yellow box. As always, trade safe.
OANDA:XAUUSDShort
by IMaBot_04
Gold Roadmapping IdeaLast week, we played the bearish structure all the way back down to the 4 HR lows near 1810, broke below it, retested 1810 for a clean break and retest, and had continued downside. Still in a seller bias, I would be looking for a 50% correction of yesterday's move around 1790 and if it fails to break, more downsides could be expected. We need to remember, gold moves in massive waves, after printing a new low from 1812 to 1765, that's 500 pips. Gold can easily correct 250 pips to 1790, but if it breaks, can head 100 more pips to 1800 psychological level. SO, TRADE SAFE.
OANDA:XAUUSDShort
by IMaBot_04
GOLD (XAUUSD): Be Prepared to Sell🥇 Gold is trading within a solid supply area as well. To catch a bearish trend continuation, watch a double top formation on 1H time frame. 1804 - 1807 is its neckline. Wait for its bearish breakout, then sell aggressively or on a retest. Target will be 1790. If the price breaks a blue zone to the upside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDShort
by VasilyTrader
11
Gold Trend 06/07Gold dropped over 2% yesterday. As the trading began at 1807 to start the day, the price touched the day-high at 1812 early in the Asian session. The momentum began to turn bearish during the European session. Gold cleared the 1800(1) support at the US session opening and then fell further, breaking the previous low of 1784 after the US released better than expected Factory Orders figures. It touched a new 6-months low of 1764, ending the day with a USD 42 drop. The bullish pattern on the 1-hour chart from last Friday was totally destroyed by the drop yesterday. The S-T trend is weakening while the price trades below its previous low of 1784. Expect the price to stay between 1750-83(2) for today. If the price can carry the selling momentum from yesterday, it should be able to touch 1750 or below. The daily chart is now dominated by the downtrend channel(4) after gold closed below the critical support of 1800(3). The price has traded in the range of 1800-70(5) for the past month; by measuring the 1:1 ratio, the downside target can be set at 1730 technically. S-T Resistances: 1785 1780 1770-72 Market price: 1767 S-T Supprots: 1765 1760 1750 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
TVC:GOLD
by 1uptick
COMMODITIES SEASONAL | GOLD & USOILHello Readers! Let's find out the monthly outlook of the two most essential commodities i.e Gold and USOIL Gold on Monthly charts favors bulls for the month of July.Technically the yellow metal has made double top and for last three months posted negative closing. We are optimistic this month as technically it is trading on the support trendline. USOIL (Crude Oil) monthly gives no clear indication for bulls or bears. However, if you observe closely the crude oil has hit its resistance and is trading near it. We are expecting a downward movement in black gold and pick entries in a lower timeframe Let us know what do you think of the idea in the comment section.
TVC:USOIL
by JustTradeSignals
2
GOLD (XAUUSD): 2 Scenarios For Next Week Explained🥇 Hey traders, Gold reached a strong horizontal demand area on Friday. The price bounced nicely from that. Analyzing a current perspective I see 2 potential scenarios for next week: Remember that technically speaking gold is trading in a bearish trend. For that reason, be prepared for a breakout attempt of 1780 - 1787 area. If the price closes below that zone on a daily, I will expect a further decline to 1758 level. On 4H time frame, lower highs are perfectly respecting a falling trend line. If the price breaks that trend line to the upside next week, I will expect a bullish move to 1850. As always, breakout trading is the safest strategy to follow at the moment. What do you expect? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDShort
by VasilyTrader
9
Gold : Intraday Technical AnalysisGold Intraday Technical Analysis: The yellow metal is in a downward spree for the past couple of day as per fears of recession in the US markets. I only buy in such market conditions. My idea is to accumulate in small lots on daily supports. Next buying level is 1780. After which I will be looking for 1767. And then 1753 and after that 1726. I am managing my account so that I can take entries on all these levels. 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.
OANDA:XAUUSD
by JBShark