gold 02.08.21gold has been ranging for quite some time now and this isn't just a short range, this is a bigger timeframe range. right now price is somewhat at a strong support since price had to break that resistance (now support) last week for it to reach our high of the range. if this h1/4hr candle can push a little bit lower and close bearish we should see some drop happening to our range support.
a bit of a range or a high (high created during Asian session) retest might happen before the actual drop to give price a bit more structure.
Goldsignal
gold 28.07.21 follow upnow price hit our first take profit from our bearish point of view and retraced back to the level we said price had high chances of pulling back too and if it held then price would be more bullish. if you did follow our risk management as we agreed when price hits first take profit we move our stop loss on breakeven for the rest then you should have got out with only profits and from here we move on to the bullish side.
price hit support, made a daily wickfill and closed above our important level at 1800.26, if price manages to stay above then we should see price push higher to complete our range and reach our resistance.
good luck!
gold 28.07.21as of yet, I am not looking for anything big or dramatic, if we look at our weekly price is showing more of a bearish market and when we look at the daily price is showing us more of resistance that was being created for a push up which price did last Asian session but today price dropped and broke support, however, price closed above. we might get a wickfill first so we shall set our first tp at 1795.50 and move our stops to breakeven then we can hold for the rest of the trade. we are going to have a tight stop loss as support has been strong in the past and no doubts price has chances of pushing higher
Gold Has Formed a Head & Shoulders pattern
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Hi Traders, XAUUSD on H4 has formed a Head & Shoulders pattern, if it gets a Break below the neckline there is a high chance of going lower.
⬇️Sell at Neckline Breakout or Sell at 1819.59
⭕️SL @ 1839.45
✅TP1 @ 1790.05
✅TP2 @ 1773.0
✅TP3 @ 1742.0
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gold 19.07.21given how the h4 candle on gold closed, price retested last weeks weekly low and if the daily candle close holding the rejection steady, we should see price rise all the way to 1832.90.
FOR PICE TO ACTUALLY RISE WELL WITHOUT MUCH/ RETRACING TO THE LOW, THE H4 CANDLE PRINTING NOW WILL NEED TO CLOSE ABOVE 1817.34.
if price rejects/fails to clove about 1817.34 we should see price consolidates between 1874.34 and last weeks weekly low or even drop more.
IF YOU ARE GOING TO TAKE THIS TRADE, I SUGGEST ONE KEEPS IN MIND THAT PRICE MIGHT WANT TO DROP AND RETEST THE REJECTION BEFORE CONTINUING UP, HENCE WHY THIS H4 CANDLE NEEDS TO CLOSE ABOVE 1817.34.
this will mean that pice has chances of taking out our stop losses and reverse and push higher. please keep this in mind as gold usually retests!
IF YOU DID NOT MANAGE TO CATCH THE LOW, DO NOT ENTER UNTIL A H1 CANDLE CLOSES ABOVE 1813.90, HOWEVER, THE H4 CANDLE IDEAN IS MUCH SAFER
Gold Has Broken Above the Resistance by a Large Candle
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Hi Traders, Gold on H4 has broken above the Resistance by a large red candle, It has also has been making HHs and HLs, so I am expecting that it goes up at least to 1841.84
⬆️Buy now or Buy at 1808.8
⭕️SL @ 1785.99
✅TP1 @ 1841.84
✅TP2 @ 1868.85
✅TP3 @ 1905.2
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Gold Analysis Ahead Of FOMC
At the last FOMC, Gold prices end lower, then move up as the Fed signals no interest-rate hikes through 2022. During this period, FED didn't change its policy a lot.
The pandemic has not finished yet, so it is hard to predict what will happen with the gold price.
But, in the daily chart, the gold price has broken below the long-term trend line. So, technically market is bearish, there is no doubt. So, how long can it drop? I think as long as the pandemic is not going to over, gold won't drop much. 1680 is strong near-term support.
Today is the FOMC, and FED hints for no bank rate changes history will repeat like last FOMC. Gold will drop first and then will up again.
If the gold price breaks below the 1800/1795 price zone, the gold price may test the 1775 to 1770 price zone. If the FED is too hawkish more ever gold may test the 1750.00 price zone.
On the other side, the weekly high is the 1815 price zone. Technically breaking above 1815, gold may move up to the 1840/1845 price zone. If the FED is to Dove final target to the upside is the 1875 price zone.
Gold Still Down Trend But Breaking Above 1800.00 May Have.......Gold is still in a downtrend, But the gold price breaks and stable above the 1800.00 price zone may have a different scenario. From the present price zone, 1800.00 is the immediate resistance.
Breaking above 1800.00 markets may test nearly 1840/1845 price zone. 1840-1850 is the descending channel resistance area. as long as the market below 1850.00, the market won't change its downtrend bias.
On the other hand, if the market close and stable below the 1758.00 price zone, we will go for sell till the 1680.00 price zone.
Outlook for Gold: Pullback presents an opportunity to buyHi everyone! Our call on gold last week is playing out nicely. For this week, we maintain a bullish bias on Gold, with prices holding above a key weekly and daily support area at 1763.14 - 1768.80, which lines up with the 78.6% and -27.2% retracement. A pullback to test this support zone presents an opportunity to play the bounce. Keeping in mind the views on the weekly time frame echo a bullish bias, a break above our H1 resistance could at 1794.50 could see more upside in gold prices, with 1820.20 as our next resistance target.
XAUUSD Technical Analysis
Gold is in strong downtrend and can clearly see more big red candles than the green ones which suggests the price has tendency to go lower. We already had a Pullback at 1795.36 and the second Pullback might happen again which would make a double top at 1795.36, but if it doesn't happen we expect the price to go lower to at least 1743.16
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How Long Can Gold Drop? Can it Break 1680.00 ? Gold is dropping 6 days in a row. In my last article, I did mention Gold is going to drop more than really happened. Is it time to sell now? I don't think so. we need to wait for some correction to the upside. then we can sell again. Breaking below 1850.00 price zone upside became invalid.
from the current price zone, 1810/1815 is immediate resistance. We may think for sell from the 1810/1815 price zone. not before that. Like 6 days in a row market is dropping, so, we may see upward correction at any time. Either breaking below the 1760 price zone, we may see more selling pressure till the 1680/1685 price zone.
of course, we are not going to buy like swing trade, we must follow the trend. so, wait for correction and keep selling as long next market mover data comes out. We need to analysis combine between technical and fundamental. Both factors are important to take a decision.
Gold Still Have Chance to Test 1850.00 as long as below 1905.00as long as Gold is below the 1905.00 price zone. Gold still may test the 1850.00 price zone soon. Breaking below 1880 we may see a big drop in gold. Last Friday NFP reports came negative than expected but unemployment and average earnings report printed better than forecast. So, USD will take its benefit very soon I think.
Gold : Monthly pivot rejection is a strong bull trend signal ? 1157 (August 2018 low) to 2075 (August 2020 high)- two year strong bull market made correction around 1676 (March,2021) which is the price in between the 38.2% - 50% Fib retracement level. Last month, price managed to close above 1900 handle and then tested the monthly pivot around 1860 and reversed. Speculative sentiment index is around 40% on an average. Its seems like technicals are indicating the start of an incoming strong bullish trend
Monthly Pivot : 1861
Strategy : Split long positions
Signal : Long @ market price + Pending long positions in between 1861-1890 + One last buy limit position slightly below 1850
Major Support : 1836 & 1811
SSI : 40/60
Gold Sell Breaking Below 1890.00, After Closing H4 CandleGold may go for short term sell after breaking below the 1890 price zone. In the h4 chart showing, gold is testing ascending upward channel. if h4 candle can stable below the channel gold may go for some downward correction.
1st target to the downside 1875 and Final target 1850.00 with stop loss above 1925.00 price zone.
Gold May Test 1920/1965 Price Zone Before Big Drop
To the upside Gold, our 1st target is 1900.00 as long as the market above the Key zone.
After above 1900 our 2nd target 1920/1925 price zone.
After breaking above 1925.00, our final target to the upside 1955/1965 price zone.
N:B : Breaking Below Key Zone Gold may suffer and test to 1680.00 price zone.
XAUUSD bullish for target 1940#xauusd, monthly and weekly chart forming higher high and higher low, monthly bar of April did not make lower low and broker high of the month of March, similarly May monthly bar broke April monthly high. 1855 initial demand zone for long, if breaks this level then next high demand zone for buy 1840-30 area. 1888 is hurdle where sellers may attempt to involve in market mean expecting some retracement by this level.
XAUUSD - SHORT TRADE PLAN ➡️ BEST PLACE TO SELL Welcome!
What's up traders! Thanks for Jumping back on my Analysis, 👨💻 Trader champ is here behind the charts, Hit the thumbs up 👍 and support the work
Follow the trade plans and notes. Sketch up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
________________________________________________
Traders Disclaimer: Non of our analysis or trade setups which is shared here on trading view is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trades only if trade setups meets the required criteria ( Confirmations ). We will never make a move or look back if trade setup invalidates with price action or future economical movements. Understanding the markets is the key behind all success stories. So never miscalculate under estimate anything which is out of your bounds. Take them at your own risk as trading is highly risky and you may loss your investments.
Mohamed Khalid Rafi ,
Senior Financial Analyst,
Profitlio Trading.
#GOLD#GOLD
The price broke through the support at 1790.57, thus leaving the falling channel.
She continued to grow in a small growing channel.
It touched the resistance of 1844.72 and began to fall.
Before reaching the support line, the price began to rise again.
I expect a return to resistance.
The target is 1868.70.
XAUUSD - SHORT TRADE PLAN ➡️ BEST PLACE TO SELL Welcome!
What's up traders! Thanks for Jumping back on my Analysis, 👨💻 Trader champ is here behind the charts, Hit the thumbs up 👍 and support the work
Follow the trade plans and notes. Sketch up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
________________________________________________
Traders Disclaimer: Non of our analysis or trade setups which is shared here on trading view is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trades only if trade setups meets the required criteria ( Confirmations ). We will never make a move or look back if trade setup invalidates with price action or future economical movements. Understanding the markets is the key behind all success stories. So never miscalculate under estimate anything which is out of your bounds. Take them at your own risk as trading is highly risky and you may loss your investments.
Mohamed Khalid Rafi ,
Senior Financial Analyst,
Profitlio Trading.
XAUUSD Update - Head and Shoulders Formations, Drop Soon?Hi,
If you read on my analysis on Gold before, the weekly chart showed that the price is on the downtrend line. The price of gold has been slowing down for a few days and failed to break the 1,800. There is a formation of Head and Shoulders on the 4H Chart, shall the break confirm a further downfall for the Gold ? Possibly so. I am going short if there is.
As the consumer confidence was higher than consensus, this might be the case. However, beware on the upcoming FOMC statement.
Happy Trading!