GOLD Global Recession EditionGold seems over priced for now.
Expecting a strong fallback due to a recession.
TP1 Range : 1210$-1220$ (Decision Point)
TP2 Range : 960$-980$
Good Luck.
Xauusdwave
GOLDobviously the first yellow count was not all the correction and latest run up very much looked as a part of a bigger structure.
i assume it will make running flat which shows that the continuation move wont be so big, since on daily/weekly we r at resistance.
but for last part of the structure as per chart im expecting another abc or maybe it will be 3-3-5 structure and we will see some deeper 5 wave c part...
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GOLD (xauusd) update- the break now startedas per my last analysis, the break has started, lets see it run its course.
PLEASE SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
XAUUSD 4h ShortAfter a 4h correction let's see where this movement goes. It can drop a lot more, but Risk reward its pretty attractive.
GOLD (XAUUSD) UPDATEGOLD (XAUUSD), seems to truncate at the point.
this would mean we will see this move down a bit
keep an eye for the red line, if it reverses and breaks
that then it will continue to go up
XAUUSD Channel DownXauUsd: Channel down has formed (CP: 1229.6)
Bearish movement expected...
Possibly price can reach 1220-1212.5
Conviction: Mild
GOLD THIS WEEK 09/17/2018Gold closed bearish last week and was in the weekly pivot area for this week. If the price continues the trianggle pattern then the price will move to the first weekly resistance area, invalid if the price breaks low ($ 1187 / oz). Key support is $ 1187 / oz If it breaks low then it will move to the first and second weekly support area.
Weekly Pivot:
R4 1273.12
R3 1248.06
R2 1223.00
R1 1208.30
Pivot 1197.94
S1 1183.24
S2 1172.87
S3 1147.81
S4 1122.75
Option:
-The price movement in a week can be used as a reference to take positions in daily opportunities
XAU/USD - ShortXAU/USD had broken over the 50 ema but wasn't able to hold on top of it.
It has now broken back under and we can expect the move to continue further lower.
You can put a pending order to short at 1189 just as it breaks its current support area.
The first TP would be at 1180
Second TP: 1175
Third TP: 1170
*If you agree with this analysis, please make sure to like! Your support is very appreciated.
Trade safe :)
profit zone for GOLD profit zone for GOLD , between 1206-1216 , open the long from the baseline and short from the topline.
until it break out the zone we will see the the gold rise up to 1250-1260 again !
low SL , high TP , good ration for the profit trading!
GOOD LUCKY
XAUUSD Corrective Structure With Bullish Break AnticipatedXAUUSD is forming a larger corrective structure than what I had first expected. Bear in mind that this is the H1 time frame though so actually still a small move inside this corrective structure. This structure could complete with either 3 or 5 waves. Once we see the break of this structure to the upside and the larger structure on the daily time frame, this will indicate a strong move up.
Contact me via direct message for any assistance required
Cheers
Linton
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.
XAU/USD Gold weekly overviewXAU/USD Gold weekly overview
On the chart we see that currency rate 9 days ago bounced up before key level $1236. That was a signal that big players want to get more fuel for continue of the trend. Also, as you see on the chart there are bearish moving from 4 -month range $1300 — $1360.
After such accumulation of volume, the price can't turn it direction in 1 moment. I think the price will continue moving down to key 13 months low $1204. Only near $1200 — $1204 we will be able to look for short.
Gold Go Up For Complete Harmonic PatternXAUUSD -0.17% Go UP For Complete Harmonic Pattern
XAUUSD -0.17% , i think After the completion of the Gartley probability of formation Head and shoulder ... !
XAUUSD Is Testing Support, Prepare For A BounceXAUUSD is testing its support where we expect to see a nice bounce.
Buy above 1285.81. Stop loss 1278.29. Take profit at 1301.99.
Reason for the trading strategy (technically):
XAUUSD dropped nicely to our support at 1285.81 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where we look to buy on weakness. We expect price to rise to its resistance at 1301.99 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our support where a bounce off this level will be a good precursor for a potential rise in price.
XAU/USD - 3000 Pips Short (30$)We can expect XAU/USD to fall further below and hit 1300$ if the current support does not hold. After this move, we'll have more information as to whether it can go down to 1290 and lower.
Gold on pullback resistance, potential bearish setup!Gold has made a pullback to our previously broken major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 99% where we still have good downside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
XAU/USD fails to break below 55-hour SMA XAU/USD fails to break below 55-hour SMA
In result of the previous trading session the exchange rate slipped to the lower trend-line of a junior ascending channel, as expected. Although the pattern has been broken, the further plunge still seems unlikely, as the southern side is reliably covered by a combination of the updated weekly PP at 1,316.13 and the 55- and 100-hour SMAs. For this reason, the pair is likely to make one more attempt to reach the upper boundary of a dominant five-month long descending channel. Due to absence of any significant data releases the rate might spend most of this week fluctuating between the above trend-line from the north and technical indicators from the south. In larger perspective, bears are projected to take the lead for notable amount of time.
Gold approaching major resistance, potential upcoming reversal!
Gold continues to inch upwards towards major resistance at 1332 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to drive price down to 1294 support first (38.2% Fibonacci retracement, horizontal pullback support) before 1272 support (61.8% Fibonacci retracement, horizontal support).
Stochastic (34,5,3) is seeing major resistance at 99% where a potential corresponding drop could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
