Goldtrendlong — Trading Ideas on TradingView

XAUUSD: Today with PMI The price of gold (XAU/USD) faced selling pressure around $1,917.50 during the European session. After a brief decline, the precious metal is expected to drop further to an intraday low at $1,910.00. The sell-off in gold was triggered by the positive performance of the US Dollar Index (DXY). S&P500 futures have extended the significant losses seen in the Asian markets to Europe, reflecting a risk-off sentiment. There are concerns about global growth prospects as central banks continue to tighten their policies, raising fears of a recession.

GDXJ double bottom - could this be the reversal?Double bottom price action on the GDXJ Price of the double bottom also hitting S/R zone of the previous 4 year base break-out. Does this indicate a reversal in the last 12 month pull-back and the start of a new break-out?

XAUUSD 20-22 Jan Analysis Start Trading at the supply zone of Gold. The bearish trend may set up but not a big drop yet. Anyway we will wait next week data analysis where will the confirm market trend. Risk Management with the right position sizing is recommended for every traders. Have a nice day week trade.

NEXT GOLD POSSIBLE MOVES...GOLD CAN MOVE UPTO 1941.. SELERS BE ALERT...

Gold analysis using Trend Buy and Sell Indicator (TBS)Based on Trend Buy and Sell Indicator (TBS), Gold is in uptrend identified by 100 week ma. In the next few weeks TBS is suggesting a pull back into 30 week ma which has proven to be a good support level historically in uptrend. For this chart I have used parameters suggested i.e Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1, Tolerance Buy = 0, Motivation Sell = 11 and Tolerance Sell = 20. That means in uptrend identified by green background every time the closing price touches 1% higher than 30 week moving average value TBS suggests buy, so a trader can choose to buy 80% of intended position at this level. If the price continues to drop down and touches 30 week moving average, a trader may choose to buy another 20% at this level. In the likely scenarios of price hike from here a trader may choose to sell 80% at the Motivation Sell level 11% higher than 30 week moving average. If the price reaches Tolerance Sell level at 20% higher than 30 week moving average a trader may choose to sell remaining 20% of the position. Trend Buy and Sell Indicator TBS identifies trend based on price cross-over/cross-under to a moving average. Confirmed Up-trend is displayed in green and Down-trend in red backgrounds. Before a trend is confirmed price cross-over is displayed in blue and cross-under in orange backgrounds. Once an uptrend is confirmed, TBS suggest buys based on touch downs to a Support moving average by a green arrow under the candle . A sell is suggested by TBS by a red arrow on top of the candle when the price reaches a certain percentage above support moving average. Motivation and Tolerance levels are provided to fine tune buying and selling signals. Note 1: TBS suggest Buys and sells but the execution of buy and sell is up to trader's discretion for example using Stop Buy order or Limit Buy order etc. Note 2: TBS is designed to be a medium to long term indicator for example weekly and monthly timescales. Traders might find it useful on shorter term time-frames but its not designed for short term time frame in mind. Note 3: Most of the parameters in TBS indicator are configurable as Trend Moving Average and Support Moving Average vary significantly across assets. Default parameters are set for Bitcoin Weekly time frame. Traders should play around with parameters to find best fit for Trend Moving Average and Support Moving Average for the asset of interest. For example TBS is very relevant and useful for Gold Weekly time frame with Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1, Tolerance Buy = 0, Motivation Sell = 11 and Tolerance Sell = 20.