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A good value Gold buy, following GBPUSD sell
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https://www.tradingview.com/x/kMn9ms1c/
XAUUSD folded under pressure from GBPUSD sell off about 2 or 3 hours ago following Great Britains's GDP results which did not support the Pound but rather the USD.
Price wound back from mid 90s to about 70s (early 70s). A double bottom has formed on TF's 5m through to 2hr. Basically, gold found support at yesterdays selling low and support level.
2673 at the time of writing. On a supported level with multiple double tops. But there may be continued selling into GBPUSD which could drag gold lower. But I think it will hold at these levels > 2670. SL a must in such volatility around 2667. TP at or near todays's high back to mid 90s.
Note: Trading gold is risky, but the gold price should be buzzing along higher next week on any impending US interest rate reduction, which you've got to realise is almost in the bag of occurring and at least 0.25% reduction.
Guys second chart is a look at the last reversal trade from RSI & Stochastics Momentum Index for a bit of light n shade from the usual Stochastic's, which the plain one is as accurate as the RSI & run for the hills on these newer Stochastic's and RSI's which hog all of your screen and do not deliver accurately. Settings can be crunched but who has the time for that.
Follow this chart to the last vertical broken yellow line to see how this trade gave 10,000 pips not 100. Cheers, Chris easy_explosive_trading on X.
In this instance, you would need to wait for RSI to push through the 30 RSI level and wait until your candle close ideally, it depends on whether you've climbed back over key levels for confirmation. The SMI you'll be looking for the pretty pink line to turn upwards and cross above -40. Good luck on 10,000 pips. It happened last time.
XAUUSD folded under pressure from GBPUSD sell off about 2 or 3 hours ago following Great Britains's GDP results which did not support the Pound but rather the USD.
Price wound back from mid 90s to about 70s (early 70s). A double bottom has formed on TF's 5m through to 2hr. Basically, gold found support at yesterdays selling low and support level.
2673 at the time of writing. On a supported level with multiple double tops. But there may be continued selling into GBPUSD which could drag gold lower. But I think it will hold at these levels > 2670. SL a must in such volatility around 2667. TP at or near todays's high back to mid 90s.
Note: Trading gold is risky, but the gold price should be buzzing along higher next week on any impending US interest rate reduction, which you've got to realise is almost in the bag of occurring and at least 0.25% reduction.
Guys second chart is a look at the last reversal trade from RSI & Stochastics Momentum Index for a bit of light n shade from the usual Stochastic's, which the plain one is as accurate as the RSI & run for the hills on these newer Stochastic's and RSI's which hog all of your screen and do not deliver accurately. Settings can be crunched but who has the time for that.
Follow this chart to the last vertical broken yellow line to see how this trade gave 10,000 pips not 100. Cheers, Chris easy_explosive_trading on X.
In this instance, you would need to wait for RSI to push through the 30 RSI level and wait until your candle close ideally, it depends on whether you've climbed back over key levels for confirmation. The SMI you'll be looking for the pretty pink line to turn upwards and cross above -40. Good luck on 10,000 pips. It happened last time.
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Gold's 1hr bounce from recent strong support level & a bounce off the 200ema.
Buy Gold 2670 to 2675. TP1: 2694 (half allotment) SL: 2667.
Ghi chú
If concerned about the tight stop loss, consider 2661 which is below the low.Đã hủy lệnh
Stopped by more -negative hot prices influencing +signs on the dollar.
Bounce back from monday gold imo. Interest rate decision next week.
Ghi chú
Note price has just broken lower from this 10 second chart and range gold was in for over 10 minutes. Price moving below the range but is about 2660.60 right now. Looks to be breaking lower
Ghi chú
This could be a false Long move but price is now getting support around the red TRAMA moving average. Interesting but still too early to tell.
Ghi chú
1 Long trade at some point may be off the 4HR chart. RSI trade. For these to work effectively you need a deep pullback, which we may have later. 4HR chart. With a recent deep pullback over last month and MACD and RSI crossed up. My RSI is set at 80:20 like a stochastic which rules out more false +. The macd setting to use on higher tf like 4hr is 12, 26,9.
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