GOLD XAU/USD Trading Idea Week 33 (12/08/2019) Time to pull back
Congratz those reference our call out last week from 1433 BUY till 1508 homerun with more than 700pips gain
With the recently booming rocket price like 'no sky is the limit' ever since 1200 1300 1400 then ultimate 1500 price
Making that obvious resistant region is near to undetectable
However bullish price action seems slowing down for now with last Friday and Thursday daily candle close
Price need to first close below 1490 to confirm further downside
With 1508 holding as resistant now
*Setup will be invalidated if price closes above previous resistant/with todays strong hammer close
Support (TP point) looking at near
1480
1460
1430
Also Buyers point to re-entry
Traders/Investors are always advised to DYODD Do Your Own Due Diligence on our following analysis outlook.
These are NOT trade BUY/SELL/HODL call out, but outlook to align my view of the market to your own trade analysis.
These are merely based on our TA Technical Analysis , FA Fundamental Analysis and SA Strategy Analysis.
We want everyone here to have a higher chance of making profit and minimize losses.
With the recently booming rocket price like 'no sky is the limit' ever since 1200 1300 1400 then ultimate 1500 price
Making that obvious resistant region is near to undetectable
However bullish price action seems slowing down for now with last Friday and Thursday daily candle close
Price need to first close below 1490 to confirm further downside
With 1508 holding as resistant now
*Setup will be invalidated if price closes above previous resistant/with todays strong hammer close
Support (TP point) looking at near
1480
1460
1430
Also Buyers point to re-entry
Traders/Investors are always advised to DYODD Do Your Own Due Diligence on our following analysis outlook.
These are NOT trade BUY/SELL/HODL call out, but outlook to align my view of the market to your own trade analysis.
These are merely based on our TA Technical Analysis , FA Fundamental Analysis and SA Strategy Analysis.
We want everyone here to have a higher chance of making profit and minimize losses.
Trade closed: stop reached
*Setup invalidated as price closes above previous resistant along with todays strong bullish daily close1508 resistant now support
Note
What crash from 153x till 148x !!500pips/50$ melted
Note
<3 How market play around with tradersTesting how strong minded in traders
Removing *Invalidated* now
Price tested 153x high triple wicks you will see the 'magic' (sept '11 till May '12)
1534 should be a good RR SELL test with min 20~50pips SL
GOLD weekly and daily candle not looking good for bull now (temporary)
Price is hovering just below H4 ema
Looking price to pull back soon at least till near daily ema
Note
1508 res breached again, looks to retest 153x or higher againwhat a roller coaster ride this week!
Note
1522 1524 res breached !
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.