ON IT
Good morning all, today I entered a small position on Gold . We got the impulsive move above the trend, then a drop back in price which looks like a re test. The daily candle wicked out to form a hammer which presented nice buying power. So I joined in for the ride hopefully. First aim is the supply zone above, but then I will hold for further possible movement. Fairly easy trade to take, zones should of been marked out from the last post. GLIYF
XAUUSD H1
The rise in the market price that took place yesterday after being tested at the opening price of 1754.00 did rise up to the level of 1769.00
from this $ 15 increase is the market price today able to make an increase or even follow the original trend where the downtrend will occur following the big bearish in the past?
From the current chart today, I see a rejection at the price of 1763.00 which is the first resistance area after the market opened this morning. Continuing that, the price also has confluence on the trendline area in the M15 timeframe tested.
These are the support and resistance levels of gold today:
R1: 1763.00
R2: 1769.00
R3: 1779.00
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S1: 1757.00
S2: 1751.00
S3: 1741.00
The price opened today at 1760.00, from Monday’s chart to the current market. The majority of the movement is still in a horizontal position so looking from this potential, short-term trading can be done in the following areas.
Trading management 1: 1.5 to 1: 2 can be used as a guide to place a good risk-reward in current trades.
Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis
The rise in the market price that took place yesterday after being tested at the opening price of 1754.00 did rise up to the level of 1769.00
from this $ 15 increase is the market price today able to make an increase or even follow the original trend where the downtrend will occur following the big bearish in the past?
From the current chart today, I see a rejection at the price of 1763.00 which is the first resistance area after the market opened this morning. Continuing that, the price also has confluence on the trendline area in the M15 timeframe tested.
These are the support and resistance levels of gold today:
R1: 1763.00
R2: 1769.00
R3: 1779.00
--------------------
S1: 1757.00
S2: 1751.00
S3: 1741.00
The price opened today at 1760.00, from Monday’s chart to the current market. The majority of the movement is still in a horizontal position so looking from this potential, short-term trading can be done in the following areas.
Trading management 1: 1.5 to 1: 2 can be used as a guide to place a good risk-reward in current trades.
Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis
Bill CollectorFX Capital
Newbie
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Hi. broer I hope you good and well this is what I am seeing on Gold for the upcoming week.
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Big drop short term only
✍️ Update GOLD
- This morning's strategy turned out to be very nice, Gold bounced up quite strongly and is currently at 1782, the momentum is quite good, but in my opinion, Gold is likely to reach the resistance area around 1785-1787. So let's liquidate the buy order in the morning and wait for the signal to sell down.
👉 Reference signal this afternoon: Sell limit GOLD price 1785 and 1787
- This morning's strategy turned out to be very nice, Gold bounced up quite strongly and is currently at 1782, the momentum is quite good, but in my opinion, Gold is likely to reach the resistance area around 1785-1787. So let's liquidate the buy order in the morning and wait for the signal to sell down.
👉 Reference signal this afternoon: Sell limit GOLD price 1785 and 1787
Gold made a good bullish move. On its way, it made a breakout at 1796.50. It may consolidate around this level. If the level produces a bullish reversal candle, I would go long. The level of 1845.05 may work as a level of resistance. I am keep an eye on Gold very closely.
S
Smith2525
Still haven't broken that high yet.... We seem to be still dropping on the weekly chart. Any update on your forecast Bax?
In yesterday's trading session, precious metal Gold, after bouncing up to 1810, fell to 1792 ($18) and closed the day with a bullish candle withdrawing beard around 1798. Although the US released disappointing data, The prospect of economic growth made the DXY index drop quite strongly last night, but Gold has not had a strong breakout yet but still moved sideways in a narrow range and the selling pressure was not great.
- In my personal opinion in today's trading session, we will have to wait for Gold's reaction around 1805. If it breaks through this price zone, the possibility that 182x-183x will be the next point Gold will head to. . And if Gold has a slight decrease in this Asian session, the price area of 1787-1792 will be good support that we can buy upon the precious metal Gold.
- In my personal opinion in today's trading session, we will have to wait for Gold's reaction around 1805. If it breaks through this price zone, the possibility that 182x-183x will be the next point Gold will head to. . And if Gold has a slight decrease in this Asian session, the price area of 1787-1792 will be good support that we can buy upon the precious metal Gold.
momo3HC
Active member
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Yep. Think so.
gold has fallen nicely for a liquidity grab at the end of October i feel we could go for another short push down and then rally up and go bullish for the final push and run all the way through to January. When i get entry's and set ups I will be holding my half of my positions for the long term looking to get in no the bull run
Cheers
S
Smith2525
Looks like we might be breaking out from that falling wedge on the weekly chart here
In yesterday's session, precious metal Gold bounced back quite strongly as expected when it rose from 1822 to 1868 ($46) and closed the session with a bullish candle around 1849. With the close Although it is equal to a green candle, its beard is quite long like this, in my opinion, it is likely that Gold will not be able to rebound as strongly as in the last 5 trading sessions.
My personal view in today's session is to favor selling after Gold has rebounded quite strongly in many sessions and at the end of yesterday's session, signs of correction started to appear. Around the price range, 1858-1864 is the closest resistance area for precious metal Gold we can consider selling with a safe target around 1842-1846.
My personal view in today's session is to favor selling after Gold has rebounded quite strongly in many sessions and at the end of yesterday's session, signs of correction started to appear. Around the price range, 1858-1864 is the closest resistance area for precious metal Gold we can consider selling with a safe target around 1842-1846.