GOLD ~ Reversing from middle support Hello traders and investors,
Welcome to technical analysis of GOLD.
if you like this analysis please like and comment below, it will support creating more analysis for you.
GOLD really don't want to break middle line this time. as i mentioned in my previous gold analysis that if we see bearish scenario gold need to break this middle line support ,
but today we see regular bullish divergence in RSI which indicate bull are coming.
and target 1 is near 1844.
GOLD/AUD
Aussie Gold stocks are up today but is it too earlyLocal Aussie gold stocks are on the move up today on some bargain hunting. Are the bulls jumping the gun though and setting up for more disappointment? The anchor to the downtrend is at 2540 on Aussie gold and price is extended into support around 2335 which is yet to prove it will hold. If the Aussie swings higher again, we expect that Aussie gold will pressure lower and may trigger a stop run below 2335 to clean out some buyers. Gold in USD terms is under pressure also so we may see more downside to come yet.
-------------------------------------------------------------
WE TRADE WHAT WE TEACH
Check out our recent Live Streams from our profile page!!
-------------------------------------------------------------
** If you enjoy our free content, please support and follow our profile, by hitting the Follow button to get further high quality ideas. **
** If you are following our ideas any comments and likes are most welcome and will be greatly appreciated **
** With quality alerts and correct Risk Management, you can learn consistency and grow your account **
** With quality portfolio management and defined risk levels to help your account grow and achieve steady profit targets while increasing your trading edge. **
GOLD IS BULLISH LONGTERMAiming towards 1910 on gold and then a breakout to higher resistance levels and hepfully pass the main ones i highlighed, specially the MAJOR resistance. 2K Stimulus strong possibility and a really good catalyst. Stimulus check might be a seperate standalone bill, so good news for gold if passes. More money printing for the other seperate bills that add up to similar government spending. GOLD bullish overall longterm. Maybe buy the rumor & sell the NEWS coming up(Christmas rally, Jan-Feb correction), Goodluck!
XAUUSD - Short - Falling WedgeTRADING VIEW
📍 10+ years experience in markets
📍Professional Stock market and Forex trader
📍 Supply/Demand Zones
📍 Frequent updates
📍Covering FX / Gold Spot / NSE-BSE / DFM / ADX / US Stocks
📍Real time updates
⏳ 1 Hrs Chart analysis
XAUUSD -TREND ANALYSIS - SHORT
SHORT FIRST then LONG
Target - 300 to 400 pips (in Short)
Tagged Short - trading between the falling wedge
KEY NOTE - SPECULATIVE SETUP - not a financial advise - do your own analysis
Please use STOP LOSS and don’t risk more then 1% or maximum 2% of your total account
Tagged Short as I expect only short
📒 Head and Shoulder, Resistance line rejection, Retracement to support area
± 1852 fresh demand zone
± 1898 fresh supply zone
📒 Analysis / Trade Setup / Long and then short
± XAUUSD 1 day chart
± Short-term Bearish # Long term-Bullish
± Fresh Demand Zone level - 1852
± 1868 - temporary support - might break
± Falling wedge identified
± Bullish trend reversal
± A touch down to support needs to be completed
± Go long for more pips
± HAPPY TRADING
Short Target - 1833
Long Target after wedge Breakout - 2150
GOLD 500 Pips rally is underway 3.5% Account growth was expectedGOLD
*********
⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational
—————-❇️——————-
Detailed analysis 💬
1️⃣ Strong break of upper side trend line
2️⃣ 1950.00 Minor resistance
3️⃣ Broad weakness of USD,USA election results outcome
4️⃣ 1962.00 next upside target- 50% Fibonacci retracement level
5️⃣ price broke the October high level
6️⃣ 1900.00 Acted as strong support
7️⃣ Technical support - Bull
8️⃣ 1850.00 acted as key reversal-bullish
9️⃣Octoberr high-Immediate support
🔟 Weak DXY- Upward pressure-2000.00 level eyed
#️⃣ Overall bullish trend
—————-❇️——————-
📉 Technical bias-H4-Bullish
Price Above 50,100,200 Exponential moving average
Relative strength index - Reached 70- overbought condition short term fall back expected
MACD -Turned green and well above signal line,oscillators pointing upward
Stochastic - Reached 75- overbought condition short term fall back expected
Ichimoku cloud -cloud is turned green-Price is above the cloud
Bollinger band- Price breakout of the band strong bullish momentum
—————-✳️——————-
Key reversal area's
1900.00 Key psychological level
1848.00 September month low
1932.00 October month high
1962.00 50% Fibonacci retracement level
2000.00 Major psychological level
1932.00 Possible entry- Bull
—————-✳️——————-
Bullish entry #Gold
Entry price - 1932.00
Take profit 01 - 1948.00 (160 pips)
Take profit 02 - 1962.00 (300 pips)
Take profit 03 - 2000.00 (580 pips)
🚫 Stop lose 1922.00 (110 pips)
⬆️ 3.5% Growth expected
⤴️ Account growth 0.5 : 3.5
✅ Risk reward ratio 1 : 7
—————-⚜️——————-
Push the like button , And cheer up if you found useful