Xausud
Massive bearish divergence on dailyI would expect a range on daily as is case with divergences. Price is the way overextended and overbought. On monthly price went above 70 - the sign of reversal.
Right now price is above next week's PP. The retest of next week's weekly pivot is very likely scenario.
GOLD (XAUUSD) - 4HOUR BUY- Trend ContinuationXAUUSD Made a retracement to to the downside giving an opportunity to go long.
Trend Continuation expected until the reach of Giant Cup and Handle Patterns Profits. (Watch my previous idea about XAUUSD for that pattern)
700 pips of Profit potential.
1.9 Reward/Risk Ratio.
View On Gold XAU/USD (The Bull strength is Strong)View On XAU/USD (2 June 2019)
Gold has an astounding recovery on the late last week and it broke a strong support resistant region of $1,300., now it is using $1,285 as a very strong ULTIMATE support region.
Meanwhile, it can go $1,310~$1,314 easily and the next hard resistant will be $1,320 (Take profit there)
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Gold - Can we revisit the last top?Currently, Gold trying to accumulate the necessary momentum to rise back to the last top, of course we will see somehow like a corrections phase in the following hours then if it succeeded into penetrating the current resistance, we will see Gold at the last top.
Wait the resistance to be penetrated,
Good luck and keep an eye...
To be updated..
RE: Gold/ XAUUSD LongDaily chart of gold, showing a trendline of resistance broken and price might move to the upside now, giving an upwards bias for Gold. Moreover, price bounced from Moving Average, higher likelyhood of Gold reversing to the upside for a big move as it is a Daily chart.
Entry was to be made Friday Nov 2, 2018 on a 30 min chart, at 1231 with a SL at 1230. Trade is still in profits and SL trailed to Breakeven.
XAUUSD approaching resistance, potential drop! XAUUSD is approaching our first resistance at 1197 (horizontal pullback resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1193 (horizontal overlap support, 100%, 61.8% Fibonacci extension, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks