SteadyFund

SteadyFund

Gold indeed behaved as predicted. It went down to 3245 and reversed above 3280 and continued until touching 3330. As shown in the chart, the trendline was broken and I am looking for buying opportunity from the retest of the trendline. If 3330 is broken, my 1st target will be 3345 and ultimate target for today is 3365.

SteadyFund

As expected yesterday, gold did fall from 3325 and touched 3280. In 12hrly TF, it is forming a head and shoulder pattern. Most likely it will fall towards 3265. However, considering the overall bullish trend, I am cautious in engaging selling orders and will wait for 3280 broken. Upon retesting, I will place selling orders. But if 3280 holds, price may go up to...

SteadyFund

Gold acted as predicted yesterday. Since the trendline was broken, it did rejected from 3350 and broke 3322. Currently it is above 3300. I am looking to sell from either 3305 or 3322 resistance. If selling from 3305, 1st target is 3287. If selling from 3322, 1st target is 3305. My ultimate target for today is 3267. Bear in mind that weekly and monthly gold is...

SteadyFund

Gold dropped unexpectedly yesterday and it seemed to me the trend line has been broken. Therefore, I have switched my short term view to be bearish. As long as 3347 resistance holds, I will sell toward 3422 as first target and 3265 as my ultimate target for today.

SteadyFund

As explained in my weekly post, as long as the trendline holds, I am bullish on gold. Therefore, I will look for buying opportunity from 3330-3340, targeting 3410 for today. However, if the trendline is broken, the setup is invalidated.

SteadyFund

Gold has been performing as expected last week. I was expecting 3250 to be broken and indeed after it was broken, it went up all the way to 3365 and closed the week with a big green candle. I do expect the price to continue to go up next week. Possibly at least touching 3500 previous ATH. There is a high chance another ATH to be reached next week as month close...

SteadyFund

Yesterday gold broke 3325 and reached around 3345. But it dropped rapidly and closed the day with a strong red candle and below 3300 level. This signals a strong reversal. I do expect the price continue to drop today. If the trendline is broken, we could see a retest of 3250. However, if 3305 is broken, the setup is invalidated.

SteadyFund

As expected, gold indeed continue to grow after breaking 3250 resistance. Although the impulse is not that strong, I do expect its bullish trend to continue. But keep in mind, there is a double top in 4hrly TF. Therefore, I will buy if 3325 is broken or 3295 support holds. Targeting 3360. However, if 3295 is broken, the setup is invalid.

SteadyFund

Gold has formed a inverse head and should pattern. As predicted from yesterday, it indeed got rejected from the trendline and broke 2250 resistance. Currently it is at 3300. Buying dips is my strategy today. I will buy from 3275. Target for today is 3350.

SteadyFund

Gold did move up to 3247 resistance but failed to break it yesterday. Price has hit the resistance for 4 times and gave a rising triangle pattern. It seems the market is pressing toward breaking the resistance. I also identified the trend line as shown in the chart. As long as the trend line is valid, gold should stay bullish. I am looking to buy when 3252 is...

SteadyFund

As explained in my weekly post, I am bullish on Gold this week. Therefore, I will look for buying opportunities today. Currently, gold has opened higher at the. start of this week. I will look for buying signals from breaking of 3252 resistance or retest of 3165 support. Target for today is 3320.

SteadyFund

Last weekly post, I expected gold to go up based on the green weekly bar. However, I didn't notice the red 2W bar and the price did go down instantly and touched 3120. With the weekly bar closed above 3165 support and EMA line, I do expect the price continue to grow. Although current weekly bar is red, I will be cautious engaging selling orders. From daily TF, I...

SteadyFund

As mentioned yesterday, since my weekly target of 3165 was met, I would be cautious in placing buying orders. Indeed, after reaching 3120, gold quickly turned and closed above 3200. It is now quite bullish. I will place only buying orders today. I am looking to buy from 3200-3210 level or the breaking of 3270. Targeting 3340.

SteadyFund

Yesterday I predicted that gold could go both ways and I preferred it go up to fill the gap. However, it broke 3200 support and touched 3168, just 30 pips above 3165 target. As my weekly target is almost hit, I will be cautious in engaging selling orders. I am looking to sell from 3200 and target 3165. However, if 3200 is broken, bulls could take control again.

SteadyFund

Gold did fall from 3265 yesterday but did fall hard enough to break 3200. Currently it is supported by the trend line shown in chart. It is still possible the trend line to be broken although the overall trend is still bullish. Therefore, I will be trading breakout today. 1. If 3265-3270 is broken, I will buy toward 3340. 2. If trendline is broken, I will sell...

SteadyFund

Gold has broken 3270 support and went down all the way to 3208 yesterday. With current strong bearish momentum, I will be very cautious in buying. Therefore, I am looking for selling opportunities from either 3270 resistance or broken of 3200, targeting 3165. However, if 3270 is broken, the above setup is invalidated. We may have bulls regain its momentum.

SteadyFund

As explained in my weekly forecast, I am still bullish on gold. The current opening drop can be seen as a good buying opportunity. I will monitor the price action closely at 3270 level. As long as this level holds, I will buy towards 3370 today. However, if 3270 is broken, gold may turn to bearish in short term.

SteadyFund

As predicted last week, I did expect gold's bullish trend to continue when 3165 was tested. However, it didn't go as predicted but went straight up to 3430. With corrections in the last days of this week, gold still closed the week with a positive candle. I am expecting the bullish trend to continue next week. I will look in smaller timeframes for intraday...