XAUUSD possible pullback up to @1360. Open sell limit @ 1410-14Gold made a BIG move yesterday at Asian Session, that makes it move 300 pips in less than 3 minutes. I researched that the reason behind of this is the delayed Trade War talks of the United States and China. Now the Investors are shifting their equity into the safe haven assets just like Japanese Yen and one of it is Gold.
In long term XAUUSD is being seen as bullish and it might go up to 1600.
I would advise to open a sell limit at around 1410 and put a stop loss 100 pips on that area, and target around 400 pips that would make your ratio 4:1
Always use a proper risk management and always set your leverage low so that you wont get tempted to open another trade. Use STOP LOSS, it is not there just for display, it makes you save your account getting burned and being available to trade in the future.
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XAUUSD approaching resistance, potential drop!XAUUSD is approaching our first resistance at 1337.19 (horizontal pullback resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1327.25 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (21,5,3) 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.
GOLD SHORT - Cypher & Resistance If price reaches channel's upper limit, we have a potential short around $1352.
Conservative targe t at 1322 where there was a double bottom.
Aggressive target at 1306 where there is a strong support
Fundamentals - Trade war worries are easing, gold should lose value (less "safe haven" investment). BUT watch for geopolitical tension with Syria and Russia. If conflict escalates, financial markets will perform poorly and gold price should increase - WATCH for news during the week!!
#4 - GOLD everyday - 19 Apr 2017Everyday I will give you a trade direction, which you can go for limit trade in this direction in the area which is shown as limit trade area!
If the two top's green levels will be broken, we forget about the limits and go for the instant buy deal, and if we see that the two bottom's red levels are broken, we will go just for sell.
Today's suggesting direction is sell, so we have sell limit in the area which is shown in the chart, if 1296.00 breaks, we will go for instant buy. The level for sell is 1260.77.
Gold - Consolidation since early July about to endGold has been consolidating over the last two and a half months. It did everything to confuse everybody.
But besides all this short-term noise there has been a very important and extremely bullish development.
The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded status. This is super bullish and means the uptrend is locked in...
I think the final bottom is due until next Wednesday between $1,300 and 1,310.
From there Gold will shoot towards $1,415-$1,430 pretty fast....BUY THE DIP
GOLD - One More Leg Down ?After touching support at 1330, gold turned up $27 and traded as high as 1357 . However, sellers came in and pushed it back to the 1345 level. What's next ?
It seems like gold is still in a correction phase with possibly one more leg down. You can see in the chart gold is trying to climb back to the red trend line and hold above there.
The last wave up from 1330 to 1357 can be drawn within a very upward sloping channel. Price is at the intersection of the green support channel line and the red trend line. If price breaks down, it will be a heavy drop. So Watch The Price Action There !
Please note that MACD indicator is having a cross over. Therefore, downtrend is continued being favored here.
I have a projection of the move if price does break down those trend lines. By using AB = CD pattern, price can move lower to 1320 level.
GOLD - HEAD & SHOULDERS PATTERNGold has formed a head and shoulders pattern on the daily chart. Now gold is testing the neckline support after forming a right shoulder at 1366. The neckline support should be around 1332-1337. If it breaks down from the neckline, head & shoulders pattern may kick in and gold will drop as low as 1240. Other supports are 1300-1305, 1280-1285, 1260-1265.
Trade plan:
- Sell Stop at 1330 or Sell on Daily Close if today price closes under 1332.
- Take profit at 1250
- Stop loss at 1370.
Might consider taking partial profit at supports such as 1290, 1270.
Stay Tuned !