Goldweekly
GOLD - UPDATEGold did not take the levels, we discussed in the previous post i.e 1910-1930.
These levels are also aligned with the downsloping trendline resistance.
Hence as long as it is resisting these levels, chances are high that it gonna move lower towards 1795 levels.
The rest will update, in case I spot any major price action change in the charts.
GOLD ANALYSIS UPDATE!AFTER A RETRACE AND RETEST AND FAILURE OF LAST WEEKS HIGHS AROUND THE 1740-1745 MARK, PRICE FAILED TO MAINTAIN THAT ZONE
ALSO NOW FAILED THE 1730S -1737S AND NOW IN THE 1720S - 1725 ZONE
OUR BIAS IS SHORT INTO FRIDAY TO CLOSE OUT THE WEEK.
HAPPY TRADING!
*TRADE TIP* YOU CAN RISK ONLY 1%-5% OF YOUR TRADING BALANCE IN EACH TRADE DEPENDING ON THE SETUP. IS IT A HIGH PROBABILITY OR LOW PROBABILITY SETUP? HOW MANY CONFLUENCES OR SUPPORTING POINTS DO YOU HAVE FOR YOUR TRADING DECISION? SOMETHINGS TO THINK ABOUT FOR YOUR NEXT TRADE!
OANDA:XAUUSD
Gold Chart Update: Weekly Buy Signal HitGold hit a weekly buy fractal without trading back into the balance zone. That means it didn't really want to breath, instead the pressure to go higher seems to be extensive, a weekly close above the breakout fractal level as we're seeing right now supports that. Just like in Silver, this market seems to establish a new overall uptrend.