Breakdown #GOLDIn this video we analise the Monthly. Weekly and Daily chart for the week ahead. Enjoy the video and good week for everubody.
Golddollar
Is Gold Ready to test $1405 Region?Most of my analysis is on the chart.
Gold cleared previous resistance around 1395 with a strong and clear move to the upside.
I like to trade ABCD Patterns, my favorite thing to do is buy and sell the C legs. The first step for me is to have B make a new low or high, which in this case it has made a new high, showing bullish strength.
the next thing is I look for where I can enter on a pull back, In this case we have a nice point of control (red line) where price has been reacting in a bullish manner, I believe there is a lot money sitting there that can give us some sort of move up when/if we come back to this level.
I will be looking for a bullish harmonic patter to complete inside the bullish trendline, and right near that point of control 1392.82. Depending on the pattern I get, I'm going to be using a 15 pip stop give or take,
Take Profit will be for a measured move of the AB Leg, But I'll be watching to see how price reacts just before the D completion because if this plays out for us, We will then have a completed bearish Gartley Pattern. The .786 Retracement of the XA Leg is a spot to watch.
30 pip stop 4:1 Return
15 Pip stop 8:1 Return
-Enjoy
A trading opportunity to buy in GOLDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1433.50
TP2= @ 1526.88
TP3= @ 1625.63
SL = @ 1333.00
A trading opportunity to buy in GOLDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1433.50
TP2= @ 1526.88
TP3= @ 1625.63
SL = @ 1333.00
Hold on, is this a descending triangle, or a Bull Flag??In my previous post i talked about Gold breaking flush through a Descending Triangle, i misspelt it for a Ascending Triangle. After looking again it appears as though this may be a fake out.. Time will tell per usual.
If you look at Gold on a macro 100 year chart including the wicks, Gold peaked in early 1980 2,200ish USD. After that ATH, gold sold off for 20 YEARS before finally bottoming in April 2001.
Aug 2011 was a double top, and now Gold is still "technically in a bear market until this Descending Triangle is broken!
Don't miss the great buy opportunity in GoldTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1279.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 1288.15
TP2= @ 1292.95
TP3= @ 1303.25
SL= @ 1275.80
Don't miss the great buy opportunity in GoldTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1292.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1303.25
TP2= @ 1310.50
TP3= @ 1324.45
SL= @ 1281.00
Don't miss the great buy opportunity in GoldTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1292.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 1303.25
TP2= @ 1310.50
TP3= @ 1324.45
SL= @ 1281.00
GOLD US$TVC:GOLD
IF cant holding 1222 , It toss 1065 and bounce from this level.
Targets
T1 1139
T2 1181 TVC:GOLD TVC:GOLD
T3 1215
we will be waited for gold until the bounce but when blow through 1359 nobody can hold just as you know this is gold.
CHEERS AND PEACE BROS ...
XAU/USD Short Trade Idea (5/8/19)XAU/USD Short Idea (5/8/19) Daily Chart
- I am looking for the higher low to be established at the trend line and then the reversal to the weekly disturbance level @ 1254 (Blue Level)
- On the 4HR, waiting for price to break 200 EMA (grey) if it does, price will continue to go up to the trend lien, which has a confluence with the
61.80% fib level, the bearish trend line, and the 4Hr disturbance level (Orange)
(4HR Markup Linked Below)
GOLD - Sell BOX- Important trendline retest
- Fibo level
- 2015 yearly high
- Recent support/resistance levels
Please, take a second and support my idea post by hitting the "LIKE", it is my only fee from You!
Have a nice day,
Best regards!
*This information is not a recommendation to buy or sell, it is used for educational purposes only!
XAUUSD - Bullish Minor 5 - March Wave Counts - Part 2If you like my work, please support me with a like.
More details in my signature.
Many pips ahead!
The ladder is empty=> Here we are updating our gold chart after a very bullish break of the consolidation range.
=> Those following our telegram have been tracking this break with us live and with a helping hand from risk-off via bond flows we managed to sweep 1190 -> 1220 in a matter of hours.
=> From a technical perspective the inverse head and shoulders pattern has completed and we are actively tracking 1237 for our next targets.
=> Unless there is a sudden change of events concerning the US mid-terms we are set for some weeks of "risk-off" and with inflation we are unlocking 1300 for a test.
=> After 1237 there is some soft resistance at 1266 with a very key and steel resistance at 1282.
=> Good luck to those trading this one and well done to all members in the telegram for enjoying this ride.
A great opportunity to buy in XAUUSD.Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm.
Technical analysis:
The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 62.
Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (1217.25 to 1204.15). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1217.25)
Ending of entry zone (1204.15)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1 : @1240.00
TP2 : @1262.50
TP3 : @1287.00
TP4 : @1308.85
TP5 : @1324.15
TP6 : @1366.05
TP7 : Free
A great opportunity to buy in XAUUSD.Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm.
Technical analysis:
The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 62.
Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (1217.25 to 1204.15). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1217.25)
Ending of entry zone (1204.15)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1 : @1240.00
TP2 : @1262.50
TP3 : @1287.00
TP4 : @1308.85
TP5 : @1324.15
TP6 : @1366.05
TP7 : Free
Gold Investor Looking Next month US election (Gold Rally)XAUUSD Technical Overview:
Pivot: 1186.50
Key Resistance: 1191.20 - 1194.56 - 1198.45 - 1202.29
Key Support: 1186.49 - 1184.58 - 1181.78 - 1178.20
Day Trading Range: 1178 - 1200
Technical Indicator:
RSI: The RSI having mixed bullish divergence.
Moving Average: SMA 100(1197.45) & SMA 200(1194.50) strong resistance for Gold today..
Technical Trade Idea:
Most Likely Scenario: long positions above 1186.50 with targets at 1194.50 & 1202.20 in extension.
Alternative scenario: below 1186.50 look for further downside with 1182.45 & 1179.30 as targets.
Overall, The trading week kicked off with a panicked sell-off in Chinese equities which simply expresses growing fears in financial markets. Rising U.S. and global interest rates, a stronger U.S. dollar, slowing economic activity, and of course, tense U.S.-China relations have all attributed to the nervous market environment. The cut of the Reserve Ratio Requirement from PBOC to boost credit did little to help appetite, in a sign that more action needs to be taken to avoid a hard landing. While we think that China still has a lot of monetary and fiscal tools to cushion a slowdown to its economy, investors need to see the domestic picture improving before seeing a significant rally in its equity markets.
There are quite a few variables influencing the price action which leads me to believe we’re more likely to remain in a range over the near-term. One event that nobody seems to be talking about is the U.S. November elections.
Traders are saying that today’s early session strength is being fueled by safe-haven bids from risk-averse investors. The buying could be coming from Asia where stocks are under pressure again. Furthermore, renewed concerns over a potential slowdown in China’s economic growth as well as an easing U.S. Dollar could be underpinning the market.
If it’s being viewed as an investment then investors will have a difficult time generating enough upside momentum to trigger a breakout through the resistance because of the rising interest rate environment in the United States. This helps support the U.S. Dollar which leads to lower foreign demand for dollar-denominated gold.
If gold starts to take on the identity of a safe-haven asset then demand will have to increase enough to drive out the net short hedge and commodity funds. Only then can we see a bona fide breakout to the upside.
There are quite a few variables influencing the price action which leads me to believe we’re more likely to remain in a range over the near-term. One event that nobody seems to be talking about is the U.S. November elections.
Thanks
YoCryptoManic
Gold Investor fearing from today's NFP DataXAUUSD Technical Overview:
Pivot: 1205.45 (1198.40)
Key Resistance: 1200.20 - 1202.55 - 1205.45 - 1207.23
Key Support: 1197.75 - 1195.25 - 1191.86 - 1188.44
Technical Indicator:
RSI: Indicator shows mixed bearish trend.
Moving Average: SMA 55 (1200.35) strong resistance & SMA 100(1197.28), SMA 200(1195.45) strong support for Gold today.
Technical Trade Idea:
Most Likely Scenario: short positions below 1205.45 with targets at 1195.25 & 1188.44 in extension.
Alternative scenario: Long above 1205.50 look for further upside with 1207.23 & 1210.55 as targets.
Overall, In the absence of any convincing, clear-cut catalyst the markets have been in consolidation mode. Cleary the markets are attaching a whole lot of significance to tonight’s NFP print as the markets have remained range bound as trader know the outcome of tonight’s data can significantly shape the market’s rate hike expectations and the near-term outlook for the USD. So indeed, there a lot riding on tonight employment data. Failing any USD surprises, expect current tight ranges to persist ahead of tonight’s data.
Volume and volatility are light after three days of heightened activity earlier this week. The market has held up considerably well this week in the wake of a stronger U.S. Dollar and rapidly rising U.S. Treasury yields. Perhaps the market is being underpinned by speculators betting the Fed will lose control of inflation.The direction of the market today is likely to be determined by trader reaction to the U.S. Non-Farm Payrolls report, due to be released at 1230 GMT.
Thanks
YoCryptoManic
Gold looking for commentary on monetary policy todayFX_IDC:XAUUSD
Technical Overview:
Pivot: 1202.20 (CMP 1199)
Key Resistance: 1200.10 - 1203.45 - 1207.66 - 1210.20
Key Support: 1196.35 - 1193.79 - 1191.55 - 1189.25
Technical Indicator:
Moving Average: SMA 55 (1199.66) strong resistance & SMA 100(1194.48) & SMA 200(1195.36) strong support today for Gold. According to high volume moving indicator shows upside bias.
RSI: The indicator shows downside momentum, moving around 50 level.
Technical Trade Idea:
Most Likely Scenario: short positions below 1202.20 with targets at 1194.55 & 1189.25 in extension.
Alternative scenario: above 1202.20 look for further upside with 1205.20 & 1208.55 as targets.
Overall,Two factors likely contributed to the market’s weakness on Wednesday. Firstly, an easing of tensions between Italy and the European Union encouraged investors to dump their safe-haven long positions. Secondly, a soaring U.S. Dollar pressured foreign demand for dollar-denominated gold.
The U.S. Dollar was supported early in the session on Wednesday after the ADP National Employment Report showed private payrolls jumped by 230,000 jobs in September, posting its largest gain since February.
Shortly after the release of the jobs data, the greenback extended its gains after the Institute for Supply Management’s (ISM) non-manufacturing activity index jumped 3.1 points to 61.6 last month, the highest reading since August 1997.
Fed Chair Jerome Powell also made supportive comments. He added to the bullish tone for the U.S. Dollar when he said on Wednesday that the central bank may raise interest rates above an estimated “neutral” setting as the “remarkably positive” U.S. economy continues to grow.
In other news, tensions eased in Europe on Wednesday on reports that Italy plans to reduce its budget deficit over the next three years.
While the long-term view remains bearish because of the hawkish Fed, gold does remain vulnerable to short-term upswings if the situation between Italy and the European Union escalates.
In the U.S. on Thursday, investors will get the opportunity to react to three more economic reports and a speech from a U.S. FOMC member.
FOMC Member Randal Quarles is also scheduled to speak. Investors will be looking for commentary on monetary policy especially his opinion on inflation and the labor market. He may also offer his opinion on the pace of future interest rate hikes.
Thanks
YoCryptoManic
Gold move under $1205.90 will signal the presence of sellersXAUUSD Technical Overview:
Pivot: 1201.20
Key Support: 1200.10 - 1198.45 - 1194.89 - 1191.23
Key Resistance: 1205.45 - 1207.55 - 1210.85 - 1214.75
Technical Indicator:
RSI: The indicator having bearish divergence.
Moving Average: SMA 55(1194.55) SMA 100(1191.75) & SMA 200(1195.78) strong support for Gold today.
Technical Trade View:
Most Likely Scenario: long @ 1206.10 with targets @ 1211.00 & 1217.00 in extension.
Alternative scenario: below 1201.30 look for further downside with 1197.50 & 1194.00 as targets.
Overall, Gold prices have been aggressively rallying overnight. Rather odd that the USD is not leading this move that has triggered a significant and very convincing short squeeze. Remember that according to CFTC data GOLD speculative net positioning increased to its highest since December 2001 as prices declined for a sixth straight month in September. Accounts sold an additional 6,804 contracts in the week to September 25, according to the latest CFTC data published last Friday, bringing total net short positions to 17,648, the most since the week of December 11 2001.
Gold has moved higher overnight primarily driven by the return of safe-haven appeal, keeping Italy risks in mind. Interesting I was discussing that fact yesterday, that in the past when we were not dealing with a strong USD narrative, Gold would pop $15-20 higher in a heartbeat on EU contagion fears.
Sometimes, it’s easy to be blind to the facts, especially when getting so accustomed to positioning gold off the US dollar moves. But with l tightness in Copper markets influencing the base metal complex higher. There’s likely some knock-on effect from that correlation as well; indeed, shorts are being caught out on this one, and weaker near-term stops above $1200 level are probably contributing the flow. But for a specific technical trigger, commodity traders were focusing a Gold cross currency relationship, and it was the break of Gold vs EUR 1030 that triggered the short position carnage.
Thanks
YoCryptoManic
Gold depends on $ & supporting by Silver week aheadXAUUSD Technical Overview:
Week Pivot: 1191.82
Week Key Resistance: 1200.74 - 1206.16 -1215.16
Week Key Support: 1182.90 - 1177.4 - 1168.48
Technical Indicator:
Moving Average: SMA 200 (1196.65) & SMA 55 (1198.28) strong resistance for gold.
RSI: The indicator shows downward momentum & having strong resistance at 53.41 level (See in chart)
Technical Trade Idea for week:
Most Likely Scenario: Long above 1191.40 with target 1200 - 1205 in extension.
Alternative Scenario: Short below 1191.40 with target 1182 - 1176 in extension.
Fundamental:
Gold hit a fresh six-week low late in the week, but a strong performance in silver, coupled with profit-taking in the U.S. Dollar ahead of the week-end, helped the market recover nearly half of the week’s loss.
Although the direction of gold prices will be primarily influenced by the U.S. Dollar. Traders should also pay attention to the price action in the silver market.
Silver is being supported because it is relatively cheap. Additionally, it could be attracting buyers due to inflationary expectations and industrial demand during the current economic expansion. This makes it a more attractive asset relative to gold. This may be just enough to bring in the buyers. Now that the news is out there, look for heightened volatility.
Economic news that could influence the U.S. Dollar and gold prices next week are U.S. ISM Manufacturing PMI, ISM Non-Manufacturing PMI, and the Balance of Trade.
Additionally, investors will get the opportunity to react to the September Non-Farm Payrolls report. The headline number is expected to show the economy added 185K jobs last month. Average Hourly Earnings are expected to have risen 0.3% and the Unemployment Rate is expected to dip to 3.8%.
The dollar will continue to be influenced by Treasury yields and worries over Italy. We’re going to approach the market early in the week as if a stronger dollar will make gold weak. However, we’ll quickly shift to an upside bias if another rally in silver takes control of the gold market and drags prices higher.
Thanks
YoCryptoManic
Gold has been in consolidating within the familiar sidewaysXAUUSD Technical Overview:
Pivot: 1196.20
Key Resistance: 1200.55 - 1204.25 - 1207.89 - 1212.66
Key Support: 1196.20 - 1193.55 - 1191.89 - 1188.29
Day Trading Range: 1205 - 1188
Technical Indicator:
RSI: RSI indicates upside bias with 52 level.
Moving Average: SMA 55(1200.54) , SMA 100(1202.22) & SMA 200(1201.43) these all are major resistance for Gold today.
Overall, With respect to the Fed fund futures yields, these continued to price 100% chance of a hike this week while the chance of another hike in Dec is priced at 90%. Much will now depend on the Fed's dots and median forecast, but anything uber-dovish could well see a huge unwind in the greenback and gold at these levels will all of a sudden look like good value and it may even take up market's preference for its safe-haven status again which would put it on course for a sizeable reversal. On the other hand, should the FOMC event be taken as more hawkish than expected, the dollar is likely to take back its title on the board of FX and weigh heavily on gold leading to a potential breakout of this extended period of consolidation.
Gold has been range bound since mid-August and is likely to remain in this state of flux as long as the Fed doesn’t do something widely unexpected on Wednesday.
The U.S. Federal Reserve is widely expected to raise its benchmark interest rate 25 basis points on Wednesday. This event has already been priced into the market. Gold is not likely to move on this news, but traders could react to any news on the path of future rate hikes.
For example, a dovish Fed monetary policy statement could put upside pressure on gold, while threatening to trigger a breakout above the key resistance level at $1220.70. The Fed cutting back on the number of rate hikes in 2019 or removing the word “accommodating” from its policy statement would be supportive.
Gold could break further if the Fed continues to press for more rate hikes in 2019 in order to gain control of rising inflation, or if it leaves the word “accommodating” in its monetary policy statement.
Additionally, gold could fall further if escalating trade tensions between the United States and China drives investors into the safe-haven U.S. Dollar.
Today’s Home Price Index (HPI) is expected to show an increase of 0.2%. The S&P/CS Composite-20 HPI is expected to come in at 6.2%. The Conference Board’s Consumer Confidence report is expected to come in at 132.2, slightly below the previously reported 133.4. The Richmond Manufacturing Index is forecast at 22, down from 24.
Thanks
YoCryptoManic
Yellow Metal Gold Weaken After China Cancels Trade MeetingXAUUSD Technical Overview:
Pivot: $1200.20
Key Resistance: $1199.85 - $1204.28 - $1207.47 - $1211.89
Key Support: $1194.33- $1191.56 - $1188.00 - $1186.66
Day Trading Range: $1204 - $1186
Technical Indicator:
RSI: The indicator lacks upside momentum, moving below 50 level.
Moving Average: SMA 100 ($1199.65), SMA 200 ($1198.45), SMA 50 ($1201.50) strong resistance for Gold today.
Technical Trade Idea:
Most Likely Scenario: short positions below 1200.20 with targets at 1193.25 & 1189.85 in extension.
Alternative scenario: above 1200.20 look for further upside with 1204.55 & 1207.10 as targets.
Overall,Driving the price action in gold last week was the U.S. Dollar. For most of the week, gold was underpinned by a weaker U.S. Dollar. On Friday, however, gold managed to give back all of its weekly gains when the dollar rebounded to the upside. Driving the U.S. Dollar’s price action was the investor response to fresh tariffs by the U.S. and China.
The trade dispute and the dollar will continue to drive the price action in gold this week. However, this week, the dollar could strengthen and gold could weaken. This is because China called off the trade talks with the United States and said it wouldn’t meet with high level negotiators until after the November mid-term elections.
Also contributing to the movement in gold will be the outcome of this week’s two-day Federal Open Market Committee meeting which culminates with the Fed’s interest rate and monetary policy decision on Wednesday, September 26.
Although the Fed is widely expected to raise its benchmark interest rate during the meeting, gold traders will be primarily focused on the direction the Fed will chart ahead. Traders essentially want to know how aggressive the Fed will be in increasing rates in the future.
Thanks
YoCryptoManic
