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Xauusd4h

Vague head and shoulders showing potential for a short on XAUUSDWhilst remaining in a bullish pattern XAUUSD seems to not be able to break the previous highs. A small trend reversal seems imminent to 1278 at which it will meet slight resistance. Keep in mind that XAUUSD is able to fall to 1260 to remain in an overall bullish trend on monthly view. However, for now a re-trace seems inevitable. 'Bear' in mind this is a simple analysis from your local Salmon. Do not take my words as sacred truths, if you don't catch this one, there's plenty more fish in the sea. Happy trading, I would be glad to get feedback and other ideas.
FX_IDC:XAUUSDShort
by UnknownUnicorn705200
Gold Possible bigger picture scenarioGold tested its 2017 and earlier this year highs in April and couldn't broke up despite several attempts, so far the price action is testing multi weeks uptrend line, possible scenario i am expecting is to the upside but if it tests the white trendline and forms linear compression, most likely we will see another low this year. So anyway, lets see i am building positions for longs for target $1,285 area thereafter i will re asses. Happy Trading & have a great weekend.
FX:XAUUSDLong
by UmarAbdurRehman
XAUUSD Is Testing Support, Prepare For A BounceXAUUSD is testing its support where we expect to see a nice bounce. Buy above 1285.81. Stop loss 1278.29. Take profit at 1301.99. Reason for the trading strategy (technically): XAUUSD dropped nicely to our support at 1285.81 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where we look to buy on weakness. We expect price to rise to its resistance at 1301.99 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement). Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our support where a bounce off this level will be a good precursor for a potential rise in price.
FX:XAUUSDLong
by theforexarmy
XAUUSD Elliott wave analysis: 4hr tfPrice action for XAUUSD last week remained pretty much between the intraday resistance levels mentioned in the last post which can be found here. The price action for XAUUSD from ~$1303.84 to price close of ~$1324.65 can best be described as a corrective (3 wave price move), which is identified in this analysis as a minute wave ((a)). This implies anticipating a minute wave ((b)) that will see the price of XAUUSD sell off, even if temporarily. Corrections are very difficult to deal with and do require a lot of patience. The only bullish scenario that is favored therefore in this analysis is a price close above the topmost resistance line in this analysis which is ~$1325.73. This could result in XAUUSD targeting between $1352.97 and $1357.46. Alternatively, the only bearish scenario that is considered in this analysis is price breaking below ~ $1301.61 which is the low for XAUUSD on May 1, 2018. A break below this price could see XAUUSD target ~$1251.97.
FX:XAUUSD
by Coin_Analyst
XAUUSD (Gold) 4hr tf Elliott wave analysisPrice action from $1355.21 on March 26, 2018 to ~$1316.31 on April 27, 2018 is corrective (3 waves) for XAUUSD. Besides, XAUUSD’s (Gold) downswing from ~ $1352.19 on April 19, 2018 to ~$1316.31 on April 27, 2018 held above the support 1 between $1314.34 and $1315.99. The implication of the above is that XAUUSD should resume a bullish move back upwards as part of another correction (3 wave move) or impulse (resumption of the bullish trend) that should see XAUUSD (Gold) close above the high made on $1365.16 on April 11, 2018. Since both scenarios point upwards for XAUUSD (Gold), trades are safest when placed in the direction of the trend. In this case, a bullish bias is favored for XAUUSD (Gold). The Target for XAUUSD as indicated for a long position is between $1355.74 and $1355.99. Point of invalidation (POI) for this analysis is placed just below Support 2 which lies between $1307.94 and $1308.14. POI = $1306.13
FX:XAUUSDLong
by Coin_Analyst
XAUUSD (Gold): The great battle for territoryMy previous post for XAUUSD (Gold) can be found here: It was mentioned in the post that XAUUSD (Gold) had perhaps going to resume a Minor wave B position and it was best to stay away as wave B’s are very difficult to deal with. XAUUSD finished last week with a -0.74% change. XAUUSD (Gold) is currently in a correction on the Daily tf that can best be described as a combination (W-X-Y) Elliott wave structure. Based on how price action transpired last week, it is quite possible that XAUUSD is currently inside of Minor wave B position. XAUUSD so far has traced a 3wave movement for the proposed Minor wave B based on price swing from ~1358.21 to ~1333.29. Any shorting opportunity should be considered only if price moves back upwards tracing out a 3 wave move i.e. This ensures that one is not chasing the market and is rather “selling the bounce”. Also a 3 wave correction of the current downswing means that there is more downside potential for XAUUSD (Gold). The least target for the short position would be the low made on April 6, 2018 of ~1320.37 The most conservative way to enter a bullish position is on a breakout above the high of ~ 1365.16 made on April 11, 2018. A slightly aggressive long position would be on a breakout above the high made on April 18, 2018 of ~1355.54. Above all, the best position in this case is no position because of how nasty wave B’s can be in terms of changing their shape without notice and at anytime. I like to think of wave B’s as a fool’s game indeed!
FX:XAUUSD
by Coin_Analyst