Goldusd
GOLD (XAUUSD): Your Trading Plan For Next Week 🥇
Hey traders,
Gold is currently stuck between two major structures composing a horizontal range on a daily.
From one side, we have 1726 - 1736 horizontal supply area
and from another, 1680 - 1689 horizontal demand area.
The price is currently approaching the upper boundary of the range.
To short from that with a confirmation, watch a rising trend line on 4H time frame.
We need a 4H candle close below that to confirm the breakout.
Then the market will most likely start falling.
Initial target for sellers will be 1706 support.
Alternatively, bullish breakout of the resistance of the range will trigger a bullish continuation to Resistance 2.
Good luck next week, traders!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
XAUUSD Short to Major support before a long?Gold has been on a downtrend for 3 levels on the 4-hour chart as indicated in the red box above from 1800.932. Last week price reached a major level of support at 1692.235. Price gave a half batman reversal pattern on the 1hr and 4hr charts at this zone. Price went up to a minor zone marked in yellow, and has not broken that resistance. Price could go up from where it is, or it could continue down to major zone 1692.235 before carrying on the move upwards, If this major support is broken, we could continue the downtrend.
GOLD bears still strong XAU / USD
The price finally reached my major support Which I pointed before in my last idea , check here ⬇️
What Next ?
The bears are stronger than bulls
1- By chart : printed big double top pattern
2- By fundamental : dollar index keep going up and bring all other assets down !
If major support of 1660$ broken the price will easly dropped to 1550-1525 and then 1400$ - 1350$
Invalidation for bears : breakout of violet color trendline resistance will help the bulls to push up again
What do you think about Gold in next weeks ?
Share with us in comment section below ⬇️
Gold Analyze (Double Bottom Pattern)🚀🚀🚀!!!Gold moved as I ✅expected✅ in my previous post about Gold.
Gold is making Double Bottom Pattern in the Heavy Support zone. At the same time, Gold is breaking the descending channel. as a result, I expect that Gold can go up to a target of the double bottom pattern.
Gold Analyze ( XAUUSD ), Timeframe 2H (Log Scale).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold Analyze (Short term)!!!🥇Gold is running in Descending channel and near the Heavy Support zone.
Also, we can see the Regular Divergence (RD+) between Oscillators and price.
I expect Gold to go up at least to the resistance zone and the upper line of descending channel.
Gold Analyze ( XAUUSD ), Timeframe 2H (Log Scale)
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Jamie Gun2Head Trade - Selling GoldTrade Idea: Selling Gold
Reasoning: Rangebound on Gold, bias still bearish posting a shooting star candle.
Entry Level: 1717.74
Take Profit Level: 1692.00
Stop Loss: 1724.00
Risk/Reward: 4.11:1
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GOLD (XAUUSD): Key Levels to Watch This Week🥇
Here is my fresh structure analysis for Gold.
Resistance 1: falling trend line of a falling parallel channel
Resistance 2: 1726 - 1736 area
Resistance 3: 1758 - 1765 area
Resistance 4: 1801 - 1808 area
Support 1: 1680 - 1689 area
The market is currently testing Resistance 1.
If the price breaks that, gold will immediately face Resistance 2,
so if you want to buy the breakout, you need a daily candle close above these 2 structures first.
Alternatively, if you are bearish biased, consider shorting the resistance of the channel.
Wait for a confirmation to short.
I am currently waiting. It looks like the market participants are looking for this week's fundamentals to start pushing.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️