Gold

Scenario for the week
Elliott: irregular flat correction up 1764.05
Uptrend is still intact in a triangle configuration. It should continue to rally to 1757.46 or 1766.53 if support around 1740.49 hold. After which a pullback to 1740.49 - 1733.50 zone is possible.
Technical points
Key point 1,770.6800
Entry point 1,747.0600
Elliott 1,672.8200
Closing 1,752.5600
Projection 1,779.6300
Trendline 1,728.1600
Trendline 1,735.2500
Supports / Resistances
Res 2 1,780.5100
Ex-High 1,754.4600
Res 1 1,766.5300
Pivot 1,740.4900
Sup 1 1,726.5200
Ex-Low 1,714.4400
Sup 2 1,700.4700

Buy gold 31760 sl 31220 tgt 31940

For XAUUSD . I still see. that trend on still bulls. Can be see with trendline formation on this 4H TF here on look nice bulls zone. search again for buy is better if price that move here still supported by nice bulls price action candle then

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Initial support at 1490 (Jun 27 low) followed by 1485 (76.4% retrace of 1462.45-1558.25). Initial resistance is now at 1526 (June 24 high) followed by 1523 (Jun 23 high). The current trend downward trend 1530 targets and stop loss 1526 1542 if the price went to the highest point breakers 1542 the trend reversed to the upside targeting 1545 and then 1550

Gold value is down for some days the price has fallen there is no movement in upward but now it is not moving down ward it is in a stable position so I think we should wait for some days more before buy.
:D

Quote:

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Originally Posted by revivo

today,Initial support at 1518 (May 27 low) followed by 1504 (May 23 low). Initial resistance is now at 1550 (June 1 high) followed by 1577 (All time high).

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good day for forex Perhaps now you can see the importance of the expectancy of your trading system.

Gold ready to post the weekly gain
Gold headed weekly gain in London after a weak dollar spurred demand for gold as an alternative investment. Palladium ready to record the best week in two months.

The U.S. dollar index, trading parameters against six major trading partners, achieve a lower level in two weeks amid speculation European policy makers will agree to maintain the flow of aid to Greece when they meet on November 26. Greece has been negotiating with the International Monetary Fund and the politicians on the steps necessary to qualify for the exemption installment loans since June.

Gold rose 0.2 percent to $ 1,732.58 an ounce by 9:24 pm in London. Prices are up 1.1 percent this week. Gold for December delivery rose 0.2 percent to $ 1,732.40 on the Comex in New York. There is no trading in the session yesterday for a holiday.

Silver for immediate delivery rose 0.2 percent to $ 33.405 an ounce, after hitting $ 33.505, its highest level since October 15. Platinum was down 0.1 percent at $ 1,579 per ounce. Palladium fell 0.2 percent traded at $ 654.25 per ounce, and recorded an increase of 4.3 percent this week, the most since Sept. 14.

until now i didnt trade in the forex with gold because i dont have a huge investment to have it deal and the gold need big one

XAU/USD (gold vs. the greenback) closed higher than opening after PMI data from the China and Europe came out better than forecasts. However, the pair remained in range between 1732.40 and 1727.95 as the U.S. markets were closed for the Thanksgiving holiday. Today there is a similar situation during the Asian session due to a Japan holiday. For the last couple of months, underlying demand for gold is being held up by the intensified worries over the global economy. Several central banks around the world continue to purchase gold and these purchases are providing a significant amount of support to gold. But with the overall attitude in the markets, I believe that this tight range will contain the market in the short-term. The XAU/USD has been trading in an increasingly tighter range for the last four days, and as a result it will soon reach a point where it will simply have to break one way or the other. I think it makes more sense to wait until we break out of this tight market. If the pair breaks and holds above 1735 the most likely target will be 1750. If that is the case, there will be additional resistance at 1739 and 1743. A daily close below the 1717 level would shift momentum to the bears’ favor. Support to the downside can be found at 1726 and 1720.60.