Thread: Gold
1300 has been rejected thrice already...bulls should be concerned. Not saying the bull run is over, but we might see a deep correction again before another impulse move up. At 129X levels, I would prefer shorts with SL 1303, rather than buying. Just my two cents.
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Hanif484 (2019-02-05), Tanveer333 (2019-02-05)
Breakout-pullback pattern on silver. The breakout-pullback pattern is formed when the price of an asset breaks a support or resistance level to then pull back to the same level and continue in direction of the initial breakout. The breakout-pullback pattern is a continuation formation. On the daily chart of silver we can see that the price has been retracing the drop from the 17.00 level to the 14.00 level. During the retracement, the price of silver broke above its 200 day EMA at the 15.20 level and it also breaks above the 55 week EMA at the 15.48 level. At the 55 week EMA or the 15.48 level, the price of silver forms a breakout-pullback pattern from where it may continue higher. In case of continuing rallying, the 16.00 level may act as resistance. Above the 16.00 level, its next resistance is the 17.00 level. If the price corrects to the downside, then the 200 day EMA at the 15.20 level may act as support.
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Asif777 (2019-02-05), Tanveer333 (2019-02-05)
1280 has been defended again, I think bulls are not willing to let it slip past this zone. I know crazier things have happened in forex and in the world, but I think 1265 next week is extremely unlikely to happen; for now. I would prefer a buy here, although with EUR/USD under pressure, a wait-and-see approach might be better.
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Hanif484 (2019-02-05)
This is going well, gold should go down after a bit of retracement on monday. I am targeting 1270-65 area.
This is just a retrace, gold is actually bullish for medium to long term basis.
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Read traders analysis and views and then implement that on ur demo trading. Soon u will start making ur own analysis and then check them with others to make the most of it
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Hanif484 (2019-02-05), Tanveer333 (2019-02-05)
Looks like there is some resistance in the 1295/1300 area and weekly bar did't close above 1287 yet (the 61.8% retracement). Let's see what happens after US session opens. I favor short but always expect the unexpected.
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Asif777 (2019-02-05), Tanveer333 (2019-02-05)
my prop indicators are looking for a short too, so that combo seems very likely ... also i have a verlong target of 1035 but that could take a few years
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As expected Gold tested the trendline support zone (1275-1278) now its up for flight till 1300 again.
Successfully added 2 long positions which are running.
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Hanif484 (2019-02-05), Tanveer333 (2019-02-05)
gold waiting bo at 1276 for possible next supports 1266/54 breaks with limit 1243 for up target 1309/26+/58, actually target remain intact for 1432+ , limit 1526 .may be world /US economy all crash next to get investors back again for safety!! immediate pull back to 1286+ ok for early birds to tank , test , tl & bo.take care , fontu
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Asif777 (2019-02-05), Tanveer333 (2019-02-05)
Gold posed to go to 1260-64 region and a possible push up is warranted from there.. I will be adding long at 1260-64 region ... target 1: 1360.. Target 2: 1440
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