Xauusdtrading
GOLD Is going towards 1900?Its difficult to say anything about GOLD. but, Now its a high opportunity to go for short sell on GOLD towards 1751. The SL should be 1819 and if 1819 breaks, it may lead gold to 1850 and 1880 as well.
Use proper Money Management.
GOLD Pending Sell Limit 1782If we look at timeframe H4, we can see, Gold still need to complete its final wave towards 1800. Therefore, a pending sell from 1780 will be a nice idea and hold till 1734.
goldwait for gold to either break out and retest or hit the zone then once u see confirmation for a buy u can open a long possition
XAUUSD: Buy opportunity on symmetrical patterns.Gold is on a short term pull back on the 4H chart (RSI = 47.725, MACD = -1.250, ADX = 29.908) following the new All Time Highs on U.S. stocks and the short term rebound on the bond market. The US Dollar remains strong but a short term pull back is helping Gold to contain a bigger decline.
Technically we have found similarities of the current sequence with the pattern during of mid to late January. As you see on the chart both the RSI patterns as well as the actual candles are identical. In January once the price crossed below the 4H MA50, it found support within the 0.500 - 0.618 Fibonacci. We are currently close to that level and with the MA200 right below, treat this as a good medium term long opportunity. Our Target is the 1,595.50 Soft Resistance.
Recent trade on Gold:
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XAUUSD: Hit the Multi Year Resistance. Sell opportunity.Gold has just entered today the 1,355 - 1,365 1M Resistance Zone with 1D highly overbought (RSI = 77.219) due to June's aggressive bullish run. The price is undoubtedly inflated due to the recent geopolitical tensions (U.S. - Iran) and the correlation with DXY has been broken. As soon as tensions ease, those dynamics will normalize and Gold should start moving lower towards its fair technical value.
This presents an optimal sell opportunity as the 1M Resistance Zone has worked as a sell accumulation point since 2017 and with a slight variation (-1,375) since 2014. We are now initiating a long term sell strategy on Gold with a long term TP = 1,220.
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