Good morning all, got a little trade setup for GOLD . I was expecting price to fall back to the demand area near the trend line , but as we can see price has broken out back above the trend line . Looks like the bull may be continuing its course. So we are looking to buy back in if we get a retest of the break. It may be the case we don’t get a retest of the break so will be looking to buy from the other area’s of interest above zones. Mark your levels up and keep watching for your entry. GLIYF
Update European Session on Gold
During the Asian session, Gold declined from 1817 to 1805. It is currently at the lower edge of the small ascending channel at 1805. A break of 1805 could extend Gold’s decline to the 1796 region.
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
In yesterday’s session, precious metal Gold fell quite nicely as analyzed when it fell from 1825 to 1804, closing the day with a slight bearish candle. With the slight increase and decrease of the last 2 days, in my opinion today we should trade within the volatility of Gold in the past 2 days. Buy gold around 1795-1800 and sell when it hits the 1818-1825 resistance. These are also 2 support and resistance levels in today’s session.
Comment on Gold on July 23, 2021:
In yesterday’s session, precious metal Gold went standard as analyzed in the early morning when it was still in a sideways range when it fell to 1794 then bounced back to 1807. Once again Gold failed to break the zone. support 1794 and we will prioritize buying if gold drops there first today.
- As I have analyzed for many days, Gold will mostly move sideways in a large range of 1794-1818 and there will be no specific breakout and in my opinion today we will still hold this view if If gold breaks any boundary, we will hit that border. These are also support and resistance areas in today’s session.
Gold Update:
The expected range is still running in the 1790-1810 zone. Buy and sell near this border area.
Reference strategy: Buy Limit XAUUSD GOLD AT 1790 and 1792
Stop Loss 1785
Target 18XX 18XX
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Guess that it’s okay for gold nowadays. We all remember the sharp decreasement in price when the corona began because all investors dropped everything and withdrawed their money from various assets which were under the hit of crisis and moved them to gold. I hope one day gold will restore its positiions mainly because it is well-known as the most stable asset on the market. We can see that every time humanity face new wave of corona the price goes down, only once in june/july of the previous year gold updated its maximum, however today we’re not able to see such change in price. Hope everything will be restored.
In yesterday’s trading session, precious metal Gold had a strong gaining day when the price increased from 1723 to 1754 ($31) and closed the session with a bullish daily candle around 1751. With the increasing force Yesterday’s price was quite strong, in my opinion in the beginning of today’s session, precious metal Gold continues to be pushed to the 1760-1765 price range without much correction.
- As in the previous analysis I said that the price zone 1760-1770 is a support price zone that has been broken and now it is a new resistance area. If the precious metal Gold in the beginning of today’s trading session approaches this price range, it is possible that Gold will correct slightly after yesterday’s strong rally and in my opinion, let’s wait for the upper price zone. to establish a short position in Gold with a safe target around 1740.
Last trading week after a sharp drop to 1684 precious metals Gold rebounded strongly, closing the week with a bullish candle and retreating around 1779. With the falling momentum almost retreating after the increase. of the last trading sessions of the past week, in my personal opinion at the beginning of this week’s trading session, it is likely that the precious metal Gold will continue to increase to move to higher price ranges.
- Switching to the daily chart time frame, we can also see the strong uptrend of the candle on Friday and I expect in today’s session, the precious metal Gold will continue to conquer the area. price is higher around 1790-1795. In the beginning of today’s trading session we will wait for this precious metal to correct slightly to be able to establish a buy position. The closest support for Gold is around 1765-1769. Here we can establish a buy position with an upward target of 1790-1795.
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The level of 1830.45 seems to be a strong level of resistance. Gold may end up producing an Inverse Head and Shoulder in the Day chart. It means the price may come down and head towards the same level again before making a long bearish run. If the level gets broken by the Bull, the buyers may push the price towards the North upon breakout confirmation.
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This looks pretty promising.
I’ve been holding out on XAU for the past few weeks, from a sentimental perspective - I’d be surprised if Gold ended up going full bear run as people are aware of how inflated, and how the inflation of the USD is going to continue.
I think people are looking to invest in whatever they can to try and offset the fact that keeping USD in a saving account right now will literally lose money.
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I think I’d it falls hard btc will counter with a huge bull run
This may already started.
Still technically rising, but at resistance on the 4H. It could still go either way. I’d want to see price break this pattern first:
I backing a fall here. It’s been a tough level to break through.
Some of the manufacturing data is starting to point to a slow down - that should lead to lower inflation figures in the future.
And there already deflationary forces in China which will at some point hit US shores.
Not to mention China is right on the verge of a full on financial crisis - again that will hit the US too.
Should this be the case Gold will sell off and the dollar will be bid up hard - this was my experience in the crisis of 2008 - and I learned much of what ‘should’ happen but doesn’t.
So don’t expect that what you expect to happen is expected to happen.
Usually what happens is the opposite.
Few are talking about the big elephant in the room right now - the demise of Evergrande in China - it is likely to have a knock on effect the size of Lehman.
This is not in the least bit inflationary.
XAUUSD H1
The price which is still in a flat state is not able to break on the large support and resistance areas, only being at the level of 50 pips from 1785.00 to 1795.00
From this movement the short -term trading potential is seen to be the focus as this expectation will continue to occur if the market price is only in the horizontal zone now. Meanwhile, the levels of 1795.00, 1790.00 and 1785.00 will be the nearest support and resistance levels at this time.
In doing short -term trading, the first aspect that needs to be emphasized is the key level where the candlestick does a rejection at that level because this trading opportunity can be seen clearly at this key level.
In my opinion, in a trade like this, confluence is needed to see the potential movement from the technical policy because, at present there is no sentiment that can push the moving market for a larger movement.
I see, from the broad overview of this gold chart, the downtrend is still dominating the current market price. If trading is to be done, looking for selling potential is better at this point until the target is at yesterday’s low.
This short-term trading risk can take between 1: 1-1: 2 with a minimum lot size and the use of risk of 1% of the equity available on the trading account, because the potential to buy and sell at this point will be seen.
Finally, if tonight the US opens stronger, most likely the 1785.00 price could be broken from the support level to the resistance.
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Gold was a brutal pair last week 
Gold comment on September 20, 2021:
- Ending the last trading week precious metal Gold had 1 week of decline from 1808 to 1744 ($ 64) closing the week session with a bearish candle around 1754. With precious metal Gold showed The downward pressure is quite good on the weekly time frame, so in the beginning of this week’s session, I think it is likely that Gold will continue its downward trend.
- Switching to the daily time frame, we can see that Gold is currently facing resistance around 1746-1750. Here, the buying power may appear to the first resistance area around 1760, if it can overcome this price zone, it can head to the price level of 1775-1780. This is quite a strong resistance area for precious metal Gold and if Gold recovers to this price zone we can establish a short position with the target that Gold fell last week at 1745.
Almost at that first dotted line 