We’ve been bearish for the past few weeks I’m surprised but gotta go with price .
Bullish Dollar putting paid to Gold longs
Gold made a significant bearish move in the H4 chart today. It breached the level of 1720, which was the last swing low. If the level produces a bearish reversal candle, the sellers may drive the price towards the South further.
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It’s a weird time to be trading but I’m sure a v shaped recovery is on the horizon
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The H4 chart shows that the price has been having consolidation within 1707.50-1800.00. Traders may wait for the price to make a breakout followed by breakout confirmation to find its next trend.
It really is a hard time to trade there is no stability to any markets at all. Ill be looking forward to the return of trending markets lol
Keep an eye on the 1720.00. Gold is traded around the level. A bullish breakout may push the price towards the North. A bearish reversal pattern at the level may drive the price towards the South. Let us wait and watch what happens.
I really like that 1720 area. Will set an alert to see how it reacts
Looks like the 2 year support has been penetrated. We are at 2 year lows at the moment, we could get a drop from here
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Still insanely tough to read at the moment. Ill be keeping my eye out for some logical moves soon
Gold has been traded within a range in the H4 chart. Traders must be patient to find its next direction. The next breakout is going to be very crucial.
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It’s guna bomb for sure
Its like a water paper bag at the moment. Will be looking for the higher high confirmations and putting a long term trade in
Gold seems to be having a bullish correction in the H4 chart. Since the price has been very bearish for a while. The buyers may want to wait for a Double Bottom to go long. It may get bearish upon finding its resistance. The level of 1636.20 may work as a level of resistance.
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Its been such a difficult pair to trade with USD waiting on a retracement i feel itll be interesting to see how Gold reacts
Technically, 1644.00 level seems to be very important level in Gold. A bearish breakout may drive the price towards the South. On the other hand, a bullish breakout at 1664.20 will be considered as a neckline breakout of a Double Bottom. That may make Gold be bullish in the H4 chart.
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I like the pyschological levels mentioned. Its just very hard at the moment trusting anything other as the fundamentals affecting gold and USD are so strong
I’ll be interested to see how we handle to 1628.215 - 1617.280 area. Will we see a bullish continuation from here?
Let’s see.
I think it depends from FED mostly.
The level of 1638.50 has been holding the price as a level of support. Traders are to be very watchful here. A bearish breakout may drive the price towards the South. A bullish reversal pattern at that level may attract the buyers to go long.
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Too volatile for me. I havent been able to trade this pair for nearly a year now. Its crazy ive had to stay out this long