Trading Ideas
Gold breaks trend line support, dip till $1308 likely
Thu, 18 Jan 2018 00:09:36 -0600
Trend line support - $1330 Gold declined almost $19 from high of $1343.80 made yesterday. The yellow metal halted its one month rally as dollar recovers from 3 year low. US dollar index has shown a minor recovery of 100 pips from the low of 90.11. The yellow metal hits low of $1324.15 and is currently trading around $1328. US 2- year yields hits 2008 high at 2.043% after better than expected U.S industrial production. U.S industrial production came at 0.9% in Dec compared to forecast of 0.4%. U .S 10 –year bond yield raised till 2.58% from the low of 2.55%. Any break above 2.62% confirms bullish continuation. U.S bond yields and gold price are inversely correlated. The near term support is at $1324 (233- H MA) and any violation below will drag the metal to next level till $1320 (61.8% fibo)/$1313/$1308 (Jan 10th low). Minor weakness below $1300. Any break below $1300 will drag the gold till $1287. On the higher side near term resistance is around $1352 (trend line joining $1433 and $1375) and break above targets $1357/$1375 It is good to sell on rallies around $1328-$1330 with SL around $1338 for the TP of $1314/$1309.
Thu, 18 Jan 2018 00:01:23 -0600
Gold continuing to show us bearish momentum. Lets see where this takes us.
Gold major support broken, possible bearish drop!
Wed, 17 Jan 2018 23:31:35 -0600
Gold has broken a major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 99% where we still have good downside potential. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Gold target 1 achieved @$1325. Book partial profits
Wed, 17 Jan 2018 23:23:47 -0600
Gold target 1 achieved @$1325. Book partial profits
Gold on major support, prepare for a bounce
Wed, 17 Jan 2018 20:18:19 -0600
Buy above 1326. Stop loss at 1321. Take profit at 1332. Reason for the trading strategy (technically): Price is testing major support at 1326 (Fibonacci retracement, horizontal overlap support, bullish harmonic formation) and a strong bounce could occur at this level to push price up to at least 1332 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support above 7.9% where a corresponding bounce could occur.
Wed, 17 Jan 2018 19:18:32 -0600
Short Gold
Wed, 17 Jan 2018 14:28:35 -0600
I will try to go short at 1332-1334$.
XauUsd H4 Waiting for Nice Short w
Wed, 17 Jan 2018 13:25:12 -0600
double top of Xau/Usd shows that it doesn't have the power of Buy and if the Mentioned Black Line we will have short position , the target price and target time has been shown in the chart , have a nice week :)
a simple double top pattern
Wed, 17 Jan 2018 04:31:15 -0600
entry after breaking the neckline
XAUUSD Trading Long
Wed, 17 Jan 2018 04:11:11 -0600
Gold is expected to revisit yesterday's high of $1342 where a break above will continue the uptrend with $1362. Fall bellow $1332 will kick off the correction trend. My idea to stop buying below $1332
Wed, 17 Jan 2018 02:39:37 -0600
Breakout Trading
GOLD long 100 pips
Wed, 17 Jan 2018 02:19:12 -0600
Back to support for another bull move
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