gold advise

It seems to me most online gold analysis sites are biased, they are all super bullish at this time, in an efort to get you to buy their bullion. I believe the market will pull back next week, to as low as $1160, before setting new direction again.

forumnoob posted:
i like to have advise from experienced traders,
will gold rise or drop and where should i open trade and put s/l and t/p

for upcomming 3 to 5 days.

and wish the community the best in trading .

VERGIS78 posted:
It seems to me most online gold analysis sites are biased, they are all super bullish at this time, in an efort to get you to buy their bullion. I believe the market will pull back next week, to as low as $1160, before setting new direction again.

That's really weird, because there's no way Gold is bullish right now. Even if retraces back to 1242 it will continue dropping afterwards.

forumnoob posted:
i like to have advise from experienced traders,
will gold rise or drop and where should i open trade and put s/l and t/p

for upcomming 3 to 5 days.

and wish the community the best in trading .

I guess as a trader you shouldn't care which way Gold goes as long as it moves :) I've started a project for XAUUSD recently: https://investocanada.wordpress.com
please follow me to see how make money on gold in any circumstances.

I think gold will continue dropping towards the next support at 1200.

Expecting $1,230 again.

arigoldman posted:
Expecting $1,230 again.

Most likely, especially considering that shooting star candlestick on the daily time frame.

I expect gold to finally go lower, over the current year, but some indicators are strong suggesting a possible spike through $1300 in the coming week / 10 days. Right now I have no clue on direction

VERGIS78 posted:
I expect gold to finally go lower, over the current year, but some indicators are strong suggesting a possible spike through $1300 in the coming week / 10 days. Right now I have no clue on direction

There is a signal that it will fall, but beyond that I am not sure either.

it is set up to go through $1300, likely next week, I'd get out of all short trades for now, it could rally $50, to $70, ($1320)

VERGIS78 posted:
it is set up to go through $1300, likely next week, I'd get out of all short trades for now, it could rally $50, to $70, ($1320)

Perhaps. This week, however, we'll probably see range and more range.

Gold made a high of $1,260 due to the events in Brussels today. Consolidated around $1,255.

I would really rather not have the market move due to events like these. :(
Either way though, it's back to testing 1.1230. Perhaps it will break below that support this time.

I might be wrong, but the drop was withtin weekly chart consolidation, other indicators are neutral to bullish still. I still suspect it will break through $1300, I certainly would not sell.

I think Gold will reach 1200 after the holidays, but whether or not it will break below that level is up for debate.

$1,243 immediate resistance.

If it can't break above that resistance I think it will retrace back to 1225.

Gold is in a bearish correction but the 1200 level could act as support. The high at the 1280 could act as resistance.

If it can't break above that resistance I think it will retrace back to 1225.