SteadyFund

SteadyFund

Gold behaved as predicted last Friday, forming head and shoulder pattern. Currently it is testing structure support which was turned into resistance. If this level holds, we shall see further drop to 3000 first, followed by 2980. However, if 3030 is broken, we may see the regaining strength of bulls and the setup mentioned previous becomes invalid.

SteadyFund

Gold has been bullish for quite a few months. And past week also finished with a bullish candle. I am still bullish on it next week. However, in smaller timeframes, there are some short term bearish signals. Therefore, I would expect at the beginning of next week, gold will drop first and pick up the buying momentum at later stage of the week. I have drawn the...

SteadyFund

As predicted, gold indeed dropped under 3050 and went all the way to 3027. Also it closed with a red candle. I am seeing this as an indicator for short term reversal. Potentially in 8hrly TF, god is forming a head and shoulder pattern. if 3022 is broken, it will open way for bigger drop, potentially to 2980. However, if 3057 is broken, the setup is invalidated...

SteadyFund

Gold is in crossroad right now. Although bullish structure is obvious, the retrace is very shallow each time it pumps up. It is now in overbought condition. I am expecting it to experience serious drop soon. Therefore, I will execute caution when buying the yellow metal from now on. As of now, 3050 is not broken yet. I will wait for the clear signal of current...

SteadyFund

Gold was extremely bullish right now. After breaking 3k resistance, it went all the way to 3038. Currently it stays below 3038 resistance. If broken, it should open way to 3048 or even 3062. However, patience is the key to success. I will look for buying opportunities from 50% retrace which is at 3018.8.

SteadyFund

As mentioned yesterday, if 2992 is broken, gold should go for another ATH. Thus, I will be trading breakout today. If 3005 is broken, upon retest, I will consider to buy. 1st target 3021 Final target 3030

SteadyFund

Last Friday gold printed a small pin bar, which may signals a minor correction in the coming days. However, due to current strong bullish trend, selling should be cautious. For today's trading, 2992 is a crucial level. If it's broken, a continuation of bullish trend is expected. However, if it's held, gold may correct to 2957 level. Let's see the price action today.

SteadyFund

Gold did move down in the initial stage of the past week but it was not able to break below 2880. Driven by fundamentals, it quickly reversed and went all the way to another ATH at around 3004. Although 3000 was considered a strong resistance, price won't be reversed so easily. Historically, when price first hit 1k, it reached 1032. Also when price first hit 2k,...

SteadyFund

Another ATH as expected. Gold is on its way to 3000, which is a major resistance. But it won't just drop so easily. I will expect some consolation around 3k level. For today's setup, I am looking to buy from 2955-2958, which is previous resistance turned to support. 1st target is 3000 2nd target 3032

SteadyFund

Gold indeed rose up from 2907 and broke 2930 resistance as predicted. Currently the bull regained strong momentum. I will look for buying opportunity from 2925-2930. 1st target 2952. If broken, we will see another ATH.

SteadyFund

Yesterday gold quickly rose up from 2880 and briefly touched 2920. I am shifting my short term and medium term view on gold to bullish due to the strong momentum we saw yesterday. The fact it went below 2900 could be false break. I will looking to buy from 2900-2905 today. 1st target 2927 2nd target 2952

SteadyFund

Although there were a lot of market noises yesterday, gold indeed dropped down to 2880 yesterday. Currently it is sitting above 2880 support. However, with 2900 broken, a major selloff is coming. I am expecting it to test 2897-2900 today, targeting 2850.

SteadyFund

As explained in my weekly summary, I am expecting gold to go down this week. From 8hrly TF, we see three times of rejection from resistance of 2920-2925. This signals a strong momentum of downside pressure. I am expecting it to reach at least 2880, or even 2850 today.

SteadyFund

Gold didn't move as expected for the past week in overall sense. Whenever I am not sure about the trend, I will look at Silver for reference. In monthly TF, silver is forming a head and shoulder pattern. I am expecting further downside for silver to test 26 support. In 2D TF, a shooting star has been formed. I am expecting immediate selling pressure for the start...

SteadyFund

Gold was consolidating between 2892 and 2920 for last two days. The fast it closed above 2900 and above daily EMA line indicates continuation of bullish trend. I am expecting gold to rise further today. First target is 2955 Final target 2989 If 2900 is broken, the setup is invalidated.

SteadyFund

Gold was indeed rejected multiple times from 2920 and went until 2895. But it failed to break 2920. However, the 4hrly bullish candles which attempted to break the resistance are on a rising pattern. This signals strong possibility that 2920 could be broken today. I will be more conservative today. Therefore, I will only trade the break out. If 2907 is broken,...

SteadyFund

Gold is in the cross road right now. Although it broke 2900 yesterday, it is still not breaking last daily high at 2920. If 2920 is broken in 4hrly TF, I will switch my medium view to bullish. However, If a bearish candle is printed in 4hrly TF, I will engage selling orders. A broken below 2900 is a confirmation of bearish continuation. Anyway, I am more...

SteadyFund

Gold didn’t continue its selloff yesterday but went up all the way to 2892. I am expecting it to respect EMA line and go down from there. As long as 2900 is not broken and 2820 is not reached, I remain bearish for gold. Today’s first target 2860 Ultimate target 2820.