SHORT GOLDGold is unable to make any highs, the bulls are still weak. Shorting gold will give us an opportunity to tap into liquidity in the 1717 area. Use proper money management.
Shortgold
XAUUSD - SHORT POSITION (DAILY)CONFLUENCES:
- Respected downward trend
- rejection candles in 4hr
- Rejection of daily EMA
- Rejection of78% fib level
- Forecasting strength in DXY
Gold Short Watching gold to enter a short position @1780 or @1800 if possible, 1800 is a bigger resistance.
Let me know what you guys think.
short GOLD 4HAfter hitting the midline of the canal to breathe, re-ascent to around 1800 and 1797 and ascent to 1865
Gold to go to $700? #GOLDI know this will be controversial but I have noticed that there's a series of cups and spikes in this chart. The top of each cup always forms at approx 350% and each spike goes no more than 650%. We seemed to have reached the top at 650%. The bottom of the cups are always formed at approx 172% from the previous bottom of the cup. Looks like there may be a double top formed in gold and it has overshot and as a result, another cup is due to form on the line below where it has formed presently, satisfying the chart requirements of the top of the cup being at 350% and the bottom of the cup being at 172%. This would take gold price down to $650 / $700.
My theory to support this chart pattern is that we have just had the largest quantitative easing in history. QE can devalue a currency. Inflation is lurking in the background and unemployment is teetering on a cliff edge due to furlough support. Interest rates have been unprecedentedly low for such a long time. In order to revalue currencies and combat inflation / stagflation, interest rates may have to surge. When the dollar rises, gold falls. I have also noticed that it has not entered an oversold period with the oversold stoch at 1.75 since 1996.
I'm no chartist, I'm only a beginner, I am just merely sharing a pattern I have spotted.
SELL GOLDShort Gold, It will not go beyond this level. Use proper money management Targets as low as 1740
Bearish Gartley pattern (4H) GOLDThe Gartley pattern is the most common harmonic chart pattern. Harmonic patterns operate on the premise that Fibonacci sequences can be used to build geometric structures, such as breakouts and retracements, in prices. The Fibonacci ratio is common in nature and has become a popular area of focus among technical analysts that use tools like Fibonacci retracements, extensions, fans, clusters, and time zones.
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looking to going short as the gartley pattern is showing, the TP 1 will be the 38% of the retracement AD , and TP 2 will be the 61% retracement AD , SL will be the X point.
GOLD TO 1713.35Head and shoulders formation. Right shoulder is forming, due for a mid week reversal after completing last weeks market cycle.
Flat Lining GOLD / 1695 Next Target1695 looks very promising coming into asian session as we are loosing buying strength at this current resistance level
Looking to short GOLD as we come into the open of Asia if the opportunity presents itself
Targeting Daily Low when we look left, key levels are exactly what I look for when trading gold!
1:4 RR
Gold Keeping Downtrend?Gold keeps on a downtrend from the following days,
- If it gains enough momentum it might retrace back to 1906.104 . The downtrend can be broken if the prices crosses the retracement line, starting a possible uptrend;
- The price is currently trying to break the support level at 1755.061 . If the support is broken, our target might be 1687.075 .
- There is a strong chance to keep a downtrend because there is a Parabolic SAR sell confirmation AND THE MACD levels are (-2.320, 130.200 and 132.509 and going down) and RSI on 57.96 going down, on the Monthly Chart.
- NOTICE that everything can change after today's news release in the USA, these news will have a major impact on the commodity.
WATCH CAREFULLY
SELL GOLDGold is approaching 1793 area. Great opportunity to short. Target 1788 Use proper money management.
Tight stops as always
XAU/USD TO 1765.400Gold to complete fib retest and break monthly support at 1780.00.
Increasing value of dollar --> Decreasing value of Gold.
REVERSE HEAD AND SHOULDER ON GOLDBearish head and shoulder on OANDA:XAUUSD
Targets as low as previous low 1764. Use proper money management
XAU/USD TO 1765.256GOLD head and shoulders, trading below daily levels so expect a rollover into lower levels.
GOLD SHORTMy first commodities share 🤓 I managed to get a good position at 1912.64, the triple touch in this area inspired me to take a short position. A hidden bearish divergence on the daily also encouraged me. I’m adding another short position 🤞🏾
#Gold Sell Oportunity!!!!!!!Gold has beed trading in a ranging market however in a grand corrective cycle.
that means the biased direction is to the downside in order to finish from the third corrective leg near 1805- 1776 $ per ounce.
meanwhile gold is retracing upwards in a 3 waves pullback, we will be looking for short positions near 1914-1917 level with respect to a stop loss
above 1923$ per ounce.
targets are open for now, however 1805 is insight.
