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Longgold

What Is Next for GOLD: Could We See It Rallying Again ? 📈1- Market Overview: As it is clear from the screenshot above the market is moving upward where the price managed to break a series of highs month after month. The rally started in December 2021 and then a huge drop was left on March 22nd to the 1900 USD mark. From this zone, Gold failed to break the previous high around the 2000 USD mark and posted a lower high showing weakness from the buyer’s side. 2- Long Scenario: The long scenario is our most likely scenario for this analysis since the market is traded to the upside, the odds of a long trading idea is much more likely to occur. The market as we can see is respecting the bullish trendline and it’s held by the buyers around the 1915 USD support zone. So, what most probably will occur is a move to the upside to test the previous high near the 2000 USD mark and then if the buyers are strong enough, we could see GOLD reaching the previous swing high around the 2071 USD level. However, we must highlight that the price posted a lower high after reaching the 2071 USD mark, which is an indication that the sellers might take control of the market in the coming days. Let’s move to discuss the short scenario where the reversal might occur, and we could see a huge drop in price of GOLD. 3- Short Scenario: The least likely scenario for this analysis is to see the GOLD reversing and move lower. As we mentioned in the previous paragraph, the yellow commodity posted a lower high which is a weak indication for the buyers. But this doesn’t mean that the market will reverse anytime soon before seeing a certain price action that we are going to discuss now. To see this particular reversal and a move to the downside, we should wait until the market breaks the support level around the 1915 USD mark and close below it. As well, another breakout we wanted to see is a breach of the bullish trendline to the downside. If these two movements occur this will lead to a huge move of the GOLD to the downside all the way to the 1800 USD mark. Financial Disclaimer: Please do you own research before investing/trading any asset. This article is for educational purpose. It might help you to have a different view of the market and learn from the way an expert see the market. But at the end you should know which trading ideas fit your personal analysis. Have a happy trading day. 🙂
OANDA:XAUUSD
by CollegeofPips
LONG GOLDLONG XAUUSD @ 1900 TP @ 1974 - 2000 SL @ 1864 We have seen Gold consolidating around the 1890 - 1900 mark. There is significant support at the 1890 lvl, and as long as we trade above that, I remain bullish on gold. Especially in the current environment, gold has proven its safe haven status. I will load up on another clip at 1890 if we test there. Looking for 1874 (last weeks highs) and possibly even 2000. So, first clip long at 1900, second long at 1890 (if it drops to that lvl). TP1 at 1874, TP2 at 2000. Stop for all clips at 1860 which is our 50% fibbo support. This trade offers a 2:1 RR ratio. Goodluck and feel free to comment below.
TVC:GOLDLong
by WhosPipsAreTheseAnyway
5
XAUUSD Ascending tunnel 4h Since 5th of June to today - ascending tunnel formation built out of higher highs and higher lows creating the shape of a tunnel going up. The range to sustain the pattern is 1789 - 1825. A break below 1789 with a 4h close, will allow for further decline down, as a first stage to 1760 hourly support. A break above 1825 with a 4h close, will allow for target of 1920 weekly resistance to reach in the short-medium term. Important levels range at the high 1790's and low 1800's. Triple top between 2011-2013 on the weekly level show around 1800 - relevance to today is high. A break above will be significant for the continuation of the uptrend breaking new highs. On a fundamental level, needless to say, 10 trillion USD printed money together with overall lack of certainty and hysteria continue to push Gold higher. Printed money dropping the US $ value and lack of real investment in equities don't provide much ground for drop of Gold price below important supports.
OANDA:XAUUSDLong
by Exactus
Long XAUUSD (gold)This image show the daily time frame but if you look at the 4hr. you would see that price respected this level of resistance. -Price also formed a double top, which is a bearish candlestick pattern. -the two statements of above illustrates 2 confirmations that price is ready to make a bearish move. -I am expecting price to sell off creating a pullback. -I think price will pullback between the fib 50.0-61.8 levels and ultimately respect the area of support (the orange line). -When price reach this area I will look for price to create a bullish candlestick reversal pattern and enter a buy. -If price pullback to that area, depending on how you view it, you may notice price create an Inverse head and shoulders on a smaller timeframe. -also keep in mind the DXY is in a downtrend. Gold and the USD move in opposite directions. -long XAUUSD (gold) and bearish DXY Like, Follow, Comment! if you see something different feel free to post your analysis below.
FX_IDC:XAUUSDLong
by NoCeilingsTrading
3