Short Term Correction in Gold.. Excellent Risk RewardShort Term Correction in Gold.. Excellent Risk Reward
Shortgold
Gold sell as not holding 1140 aboveGold not holding above 1140 and drop badly where Weekly strong Resistance also around 1148 where below 1150 is now giving support to seller
Advice sell in range of 1138-1147 sl above 1155 TP1 1122 TP2 1112
Gold to Retake 50% of Fib Trend ChannelThis looks rather ominous from this perspective, I am certainly biased short...
Lightening Gold ShortsAs the MACD rolls over, it is worth one's while covering shorts or lightening one's sizing.
Intermarket Analysis - Gold vs US02YIn an unmistakeable correlation, a higher short end of the curve means gold is relatively less attractive to own. This argument has strong claims on both reason and evidence... Hence, with a hikepending, watch for gold lower.
Of Pet Rocks & PaperweightsThis is arguably my favourite gold interpretation. Albeit, I consider Fibonacci to be pseudoscientific, so I don't weight the internal lines highly, except for the fact that they do appear to represent support and resistance to some extent.
In any case, I think there's a reasonable case for gold to resume it's trend lower.
Shorting Shiny through the lowsLooking for the intraday breakdown... If my idea comes to fruition I think this could become a position trade. Seasonally November-December is unkind to pet rocks and paperweights alike.
Xauusd : Back to Back Breakout Setups !Hey Guys, We are having back to back trade setups which are breakout ones. Remember we grabbed the previous breakout in XAUUSD all the way from 1225's and another channel forming now in gold which is ready for breakout.
I'm biased towards downside breakout, but if Gold raises up don't panic bcos till 1215's nothing to worry about bulls. Check with your trading plan and calculate the risk before entering the trade setup.
Happy Trading & Happy Friday... Green Weekend On...
GOLD'S BIGGER PICTURE ON DAILY CHARTOverall, I still see EW taking us lower. We are currently in an intermediate upward cycle from 1315-8 to 1327-9 before it takes us to new lows.
I'll post lower timeframe charts below as we have a bull run until back on track for bear.
BULL: now, 1315/18 to 1327ish.
BEAR: after that target reached or close, we'll head back south 1310, first part of wave 5 complete.
BEARISH BAT ON M15 GOLD #2Bearish Bat. Two formed on M15 one with lower entry and that is what looks like is happening.
TP1 1343
TP2 1339
SL 1354
Entered trade at 1354.7 GC or 1349ish.
sell gold Strong Resistance around 1357 and Data From USA also bad for Gold so we advice
Sell gold cmp 1346 next pending 1355 both sl 1364 tp 1330
Bear flag & Symmetrical triangleBear flag and symmetrical triangle is the same target.
The symmetrical triangle usually forms during a trend as a continuation pattern and typically breakout in the direction of the prior trend.
Bullish Three Drive PatternI buy gold at point 2 around $1243 and will close order at target B .
Then I will sell at this point B with target 1.272 Fibonacci Retracement of A2 around $1230.
Gold Double Wave Cycle SellGold Double Wave Cycle sell Idea.
As we can find a bearish divergence on the daily chart as long as the red TL holds Gold is a sell aiming 100% FE of the first cycle.
TP 1 1241.49
TP 2 1226.87
SL 2 pips + spread above last high.
GOLD SHORT ::: RISK CALL :::GOLD is expected to SINK.
There are many reason why we feel it may SINK
* HAMMER in WEEKLY Chart.
* To SINK and come near 1199 LEVELS
* Stoch RSI (3,3,14,Close) clearly states it maySINK.
* RSI(14,CLOSE) Is also of the same view.
* CCI(20,CLOSE) Is also the same
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our Short call shall be from 1215 with a SL @:1230 Tgt01: 1207 Tgt02: 1199 Tgt03: 1187. We are expecting this to happen shortly. We expect a sharp bounce back by mid week Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
