Quick Technical Overview: Technical Targets for GOLD (XAU/USD) - breaking 1,360 area for the bullish trend to be continuing
is located to be above 100 SMA/200 SMA reversal on the bullish area of the chart: the price is breaking 1341.42 resistance level to above for the bullish trend to be continuing with 1360.25 level as a nearest bullish target to ere-enter.
the price breaks 1341.42 resistance level to above on close H4 bar so 1360.25 level will be the next bullish target, if the price breaks 1320.47 support to
below on close bar so
the local downtrend as the secondary correction within the primary bullish trend will be started, if the price breaks 1265.00 support level so we may see the bearish reversal to be started on this timeframe, otherwise -
the price will be on bullish ranging within the levels.
Daily price is on primary bullish market condition by 1358.33 resistance level to be broke to above for the bullish trend to be continuing.
GOLD: End Of Week Technicals - correction to be started
This trading week ended with some interesting results for this pair (XAU/USD). So, let's describe some of the moments related to it.------------------XAU/USD
D1 price is on primary bullisgh market condition located abive Ichimoku cloud and Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. Price is crossing 1358.33 support level to below for the secondary correction to be started.
is on secondary correction to be started within the primary bullish market condition: the price is breaking symmetric triangle pattern to below for the correction to be continuing with 1335.25 support level as a bearish reversal target. Chinkou Span line is located near and above the price to be ready to cross it to below for possible breakdown, and Absolute Strength indicator is estimating the ranging condition to be started in the near future.
If not so
the price will be on the ranging within the levels.
SUMMARY : bullish
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.07.16 11:34
Fundamental Weekly Forecasts for Dollar Index, GBP/USD, USD/CAD, USD/JPY, NZD/USD, AUD/USD, USD/CNH and GOLD (based on the article)
GOLD (XAU/USD) - "Note that this week constitutes an outside-weekly reversal (bearish)
and highlights the risk of further declines before prices level off.
Gold has continued to trade within the confines of an ascending
median-line formation off the 2015 lows and a break below former
resistance (now support) at 1303/08 would suggests a larger correction
is underway. Such a scenario would target subsequent support objectives
at 1287 & 1264/66 where the 100-day moving average converges on the key 61.8% retracement of the late May ascent. A breach above 1380 would be needed to mark resumption of the broader uptrend."
Daily price is located above 100 SMA/200 SMA reversal zone on
the bullish area of the chart within the following
If the price will break 1375.11 resistance level so the primary bullish trend will be continuing.If the price will break 1305.46 support level so the local downtrend as the secondary correction within the primary bullish trend will be started.If price will break 1199.59 support so we may see the reversal of the price movement to the primary bearish market condition with 1115.31 possible bearish target.If not so the price will be ranging within the levels.
SUMMARY : ranging
Sergey Golubev, 2016.07.23 08:45
Weekly Outlook: 2016, July 24 - July 31 (based on the article)
A busy week saw plenty of action in the yen and the pound, and a stronger dollar in general. A jey German survey, GDP data from the UK Canada and the US and rate decisions in the US and in Japan stand out. These are the major events on forex calendar.
GOLD (XAU/USD) Intra-Day Technical Analysis - bearish ranging near bullish reversal levels
H4 price is located below Ichimoku cloud on the bearish area of the chart. The price is on ranging within the following key support/resistance levels:
Chinkou Span line of Ichimoku indicator is estimating the bearish trend to be continuing, and Absolute Strength indicator is evaluating the trend as the ranging condition.
Sergey Golubev, 2016.07.30 09:41
Weekly Outlook: 2016, July 31 - August 07 (based on the article)
US ISM Manufacturing
PMI, ISM Non-Manufacturing PMI, Crude Oil Inventories, Australian and UK
rate decision, Canadian and US employment data including the major US
monthly employment report. These are the highlights of this week.
Sergey Golubev, 2016.08.06 15:44
Fundamental Weekly Forecasts for Dollar Index, GBP/USD, USD/JPY, AUD/USD, USD/CNH and GOLD (based on the article)
GOLD (XAU/USD) - "More interesting for the long-Gold thesis is the Jackson Hole Summit scheduled for August 25th-27th.
This is when the foremost economic minds will meet in Wyoming to
discuss global economic issues. This will include numerous Central
Bankers from the U.S. and international Central Banks, finance
ministers, academics and many other financial market participants. Given
that many economies around the world are struggling with similar
issues, with few Central Banks wanting capital flows driving the value
of their currency higher, this represents an interesting opportunity for
Daily price is located above 100 SMA/200 SMA ranging reversal area: the price is on bullish ranging within the following support/resistance levels:
Ascending triangle pattern was formed by the price to be crossed to above for the bullish trend to be continuing.
Sergey Golubev, 2016.08.13 13:20
Fundamental Weekly Forecasts for Dollar Index, USD/JPY, AUD/USD, USD/CAD, NZD/USD, USD/CNH and GOLD (based on the article)
GOLD (XAU/USD) - "We’ll be looking for a break of the objective monthly opening range with a break lower targeting 1303 & a more significant support confluence at 1287
where the 50% retracement of the late May advance converges on a pair
of median-lines – Both areas of interest for possible short-side
exhaustion / long-entries. While the immediate risk is for a deeper
pullback, ultimately we’re looking higher in gold with a breach above
near-term downtrend resistance targeting 1380."
Daily price is above 100 SMA/200 SMA reversal area for the ranging within the following support/resistance levels:
Descending triangle pattern was formed by the price to be crossed to below for the correction to be started.
Sergey Golubev, 2016.08.16 10:04
GOLD Price Action Analysis - Intra-day ranging near 100 SMA/200 SMA reversal area for direction (based on the article)
H4 price is broke 100 SMA/200 SMA to be reversed to the primary bullish area of the chart. The price is breaking 61.8% Fibo level at 1348.03 for the bullish trend to be continuing with 1357.16 Fibo target to re-enter.
If the price breaks Fibo support level at 1333.12 so the primary bearish trend will be resumed. If the price breaks Fibo resistance level at 1357.16 from below to above so the primary bullish trend will be continuing. If not so the price will be on ranging within the levels.
Avoid These 3 Rookie Gold Trading Mistakes Now
George Georgoudakis, 2016.08.23 03:43
Could Janet trigger a triangle breakout? As nearly
500 million people in advanced industrialized nations remain mired
under negative interest rates policies –what if any answers do global
central bankers have for the current sluggish growth prospects? Will Fed Chief Janet Yellen have any answers this week? Read more here.
In the meantime, as the gold market lumbers quietly in a tight
range, it may open the door to several trading mistakes. Do any of
these sound familiar?
Trading Mistake #1: Sometimes sheer boredom can trigger you into a trade.
Trading Mistake #2: Trading outside your timeframe.
One of the elements of a successful trading and investing plan is to know your timeframe and stick to it.
Trading Mistake #3: Getting stuck and trading your "opinion."
The markets will tell you where they are going –all you have to do
is watch the charts. The markets –gold or otherwise – are not going to
change direction just because you doubled down on a losing trade. Good
traders listen to the markets – and follow price. Markets don't care
that you "know" gold has to go up right now because of XYZ.
Triangle update: Comex December gold futures remain
stuck in a developing daily triangle. As a reminder, triangles are
most often "continuation" patterns, which means upon a confirmed upside
breakout, gold would resume its previous uptrend. See Figure 1 below.
What you need to know now:
Learn more about Triangles here >> Technical Analysis 101.
What's your trading plan right now?
GOLD (XAU/USD), W1 timeframe: symmetric triangle pattern
Sergey Golubev, 2016.08.28 08:23
Fundamental Weekly Forecasts for Dollar Index, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CNH and GOLD (based on the article)
New daily bar was opened above above 1318.01 which means that the secondary correction will not be started on this Monday. So, we will wait for tomorrow for example. The most likely scenarios for the daily price are the following: the secondary correction within the primary bullish trend will be started, or bullish ranging within the levels.
As to intra-day price movement (H4 timeframe) so the price is already testing 1318.01 support level together with descending triangle pattern to below for the bearish trend to be continuing: