Gold is an asset that is manipulated to downside using derivatives. Physical demand is boosting its price to upside beating bears to capitulation. Today is one example as evidence in the chart shows.
XAUUSD price breaks above cloud.
Candlestick - HAMMER - reversal from bottom Long XAUUSD
Reversal from top conformed by neckline of H&S is crossed to downside. Enter short with profit taking targets 1919 and 1904 and 1859
ABCD Triangle crossed the support line to downside. In parallel a rejected H&S pattern is reemerging as a reversal from top
There is a negative divergence between price and RSI since Mar 13th which suggests upside momentum gets weaker as price continue to climb. This view still holds true if 2011 is not crossed up with an impulsive breakout.
This is the 6th time fibo 0.236 level 1991.567 is being retested to downside. Continue to watch for H&S neckline 1960 crossed down before entering SHORT
Once again fibo 0.236 retracement level is crossed down. Look for confirmation from headshoulder pattern
Target = 1890 Head and Shoulder formation and FIBO retracement-0.618 both converge at 1890
XAUUSD is riding wave 3 impulse with next target at 2075
OANDA:XAUUSD Hi Everyone I am waiting at sideline for a breakout to happen either up breaking 1852 or down breaking 1819. Uptrend started at 1617 and has paused at 1959. It is riding a correction wave downwards from 02 Feb. The cross up of 1852 (fibonacci 0.236) will tell us a V shaped cup pattern is getting started. Unless 1852 is crossed up don't enter...
1-The downward trend is broken to the upside 2-Cup formation is taking hold 3-Upward channel is lifting off towards the cup's left edge high 4-Impulse wave 3 is heading towards Fibonacci %100 targeting 1951
1-The downward trend is broken to the upside 2-Cup formation is taking hold 3-Upward channel is lifting off towards the cup's left edge high 4-Impulse wave 3 is heading towards Fibonacci %100 targeting 1951
Watch for breakout of triangle and violated head and shoulder patterns. Stop loss at 113
THYAO Futures Wait for 14.20 to go short