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XAUUSD 1HI think the price may go up and market continues to resistance-liquidity zone at 2048.8-2050. I LOOK for a test of the resistance and more downward moves because the trend on the daily timeframe is bearish . I expect a fake breakout of the rang zone to grab liquidity above, than continue trending downward. My goal is the support liquidity zone at 2004.4 Gold manages to grow on the background of the growing dollar index. Today there is no news that can somehow change the direction. Technical.
OANDA:XAUUSDShort
by Honey_trading
GOLD - Bull Break | EMA Support | Key .618 Fibonacci Level Hello Traders! Today’s chart update will be on GOLD, which is testing a key Fibonacci level that must break for a bull trend continuation. Points to consider, - Trend bullish - Major resistance - .618 Fibonacci - Local support at $1367 - Stochastics projected up - RSI hitting resistance GOLD is in a bull market after breaking its key neckline on its long formed inverse head and shoulders. It has been putting in consecutive higher lows from lower levels when coming into the neckline. Major resistance, the .618 Fibonacci needs to break to keep a bullish bias; historic price action tells us that this is a staunched level for Gold. Local support is around $1367; Gold can retrace back and retest this level whilst still maintaining a bullish structure. The stochastics is currently projected up, still room for further upside momentum, no clear signs of topping out as of yet. RSI is hitting resistance, coming out of overbought territory; a retrace back to neutral levels is highly probable. Overall, in my opinion, Gold needs to break the .618 Fibonacci level to avoid a double top formation, otherwise a retest of the neck line is highly probable. What are your thoughts? Please leave a like and comment, And remember, “Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
TVC:GOLD
by The_Alchemist_Trader_
GOLD Inversre Head and Shoulders Target MetHello Traders, ' Today's chart will be an update on GOLD (US$/OZ) based on previous chart posted on 06/21/2019 ( Feel free to have a look!) Points to consider here - Inverse Head and Shoulders Valid - Price broke multi year long resistance zone, now turned potential support - Price has reached calculated target of this inverse head and shoulders ( Blue vertical line) We have some noticeable bearish signs in recent developments after this breakout - potential bearish divergence as the RSI puts in consecutive lower highs as price tries to put in higher highs - Stoch looks like its topping out indicating potential downwards momentum - The inverse head and shoulder's setup has psychologically ended as price is now in discovery mode The probabilities for GOLD to correct is more favorable as the pattern has now completed, this is looking to be the local top as the RSI is showing a very clear bearish divergence. The Fibonacci retrancement shows potential price targets, the golden Fibonacci line (.618 - $1369.04) is sitting very close to the now new support in the macro structure. GOLD could with a high probability retrace to the .618 area and retest the previous resistance now turned support... What are your thoughts? please leave a like and comment and remember, Letting losses run is the most serious mistake made by most investors - William O’Neil
TVC:GOLDShort
by The_Alchemist_Trader_
101 - Why Gold Is An Undervalued Asset Class - Simplest way to show it. (Go stockchart for volume tracking since 1990 for viewing the entire volume climb). Since 2011 ( gold 0.32% peak of ≈ 2000usd) big steady increase in volume but price has fallen -30%+ ... Volume wins out in the end long term, no matter the manipulation. You will se the invers correlation with declining volume on growth in almost all high p/e giants like apple 1.19% etc... Should tell you something about the current state of the market. China's yield curve turned negative this week, US is not so far behind with a 1.38 moving towards 1 (10-2 yield curve ratio). They need more QE to prop up the markets. 1-2% interest rates isn't enough to stabilize markets, required amount of ≈5%+ when recession Volume is the most essential element in trading. It shows how money flows in between different investment areas and where you should speculate short, mid and long term
FX:XAUUSDLong
by thefreedommatrix
2
XAUUSD: GET LONG on open in Oz and you'll wake up richerXAUUSD: Gold - was bearish of gold on Friday. Now the wind's changed - completely - 180 degrees due to the Dollar breaking down. This should save gold from further falls as people flock to it as a shinier, safer safe-haven than the Dollar for a while. Worth getting long asap (NY will be too late for this) as Oz opens as the price is so low at 1228 it means a stop can be placed at 1224 for a 4 to $5 maximum loss if wrong. Upside from here could be considerable over the next few weeks if the Dollar tanks as anticipated looking across all Dollar crosses right now.
FX:XAUUSDLong
by sumastardon
2