Gold: Longterm Breakdown for 2020Taking a step back in this season of illiquidity over the Christmas break to the new year holiday we can look at something interesting at the weekly timeframe for gold. Every 500 of this chart represents a key level that we need to pay attention to its been back tested and proven and you're more welcome to do so by using the make it mine feature in the bottom right corner of the screen.
Drawing a weekly fit here we can see exactly what I'm trying to assess with my bias right here. I have labeled the chart a BNC and you can see with proper Fibonacci operations how well the structure has presentex. With a stronger goal that we can assume a week a dollar this is a perfect call agreement between two strategies on two different community bases.
Xauuusd
Buy Gold Now between 1486 - 1483I can sense that this a classic movement that traps the longs but doing Stop hunts and trap the shorts when it goes down. Manage your risk very well because it is Gold and as much as possible divide your lots by 2
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GOLD Trendline SELL 4H and Daily Long term SellGOLD Trendline SELL 4H and Daily Long term Sell
Personally I would Sell gold under the trendline and Resistance that it had been rejecting on a daily and 4 Hourly. if it breaks the trendline and or Resistance level it had been rejecting recently then this would invalidate the trade.
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.
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