Since price has been following upward to retest resistance (down/green) trendline, it can attempt to test other resistance: the past high swing & resistance at that price as is (blue line). Test of these prices resisted may be needed to ever start a short condition, yet Daily TF:(Following image) shows attempt at resistance (MBL slightly upward (yellow line), but...
Really love trading view chart, still on learning process but here my ideas to share how you guys think? my basic Daily chart gold i think might bounces from the 200 ema & resistance im shorting at 1258 my 1 tp 1239.90 2 tp 1225.5 3 tp 1209.47 sl above 1262
As you can see from this Daily chart, Gold has been in a short/medium term bull trend recently. This bulltrend could potentially be running out of steam here - as you can see from the Fibonacci I have applied to the bear trend before it, Gold has now reached its 61% retracement area. It pulled back from the 61% Fibonacci area (around $1255~) quite rapidly and it...
Gold has finally gotten a break above the 1250 level. We are approaching overbought levels so I am expecting some pullback to the 1240 area before further upside. There is only slight RSI divergence which I do not believe is enough pressure to get us back under the support. The bullish sentiment on Gold and Yen have bee strong. As long as equities keep topping out...
As long as XAUUSD traded below 1235.00, I would continue to hold the short position. A break above this zone with strong shaved bar will negate my idea.
Sell below 1250.00. Stop loss at 1310.00. Take profit at 1125.00. Reason for the trading strategy: We remain bearish below 1250 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1125 support (swing low support, Fibonacci extension, Fibonacci retracement). RSI (34) has made a bullish exit and warns off a...
As you can see i expect the gold to go up to the 0.382 fib and come down to complete the 5 waves pattern.
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
If the 100 SMA is crossing the 200 SMA many traders are talking about "death cross" - `cause the midterm investors starting to get under pressure relative to the longterm investors ... How ever, not only the big picture about XAUUSD is ugly - the short term picture inclusive :) 1188.10 intraday high while last FED press conference 1157.30 intraday low while...