GOLD, XAU/USD

Please note that all updates posted here are NOT real time and have a time-lag UP TO few hours to days depending on the bandwidth available with us to post here and on twitter. The updates are meant for information only. For the purpose of trading, real time updates are critical and mandatory. 

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Original post - 13th Sep 2019 

Posted here - 15th Sep 2019

[Gold December Futures, XAU/Gold SPOT Update] 

As anticipated, Gold did reverse exactly from the key resistance at 1533 [XAU=1526] yesterday. It is good to see the "irregular" wave(iv) respecting the patterns well.

As long as this key resistance holds, Gold has the potential to retest the key support at 1490-1480 [XAU = 1483-1473]. 

 

Again, please note that we are still in wave(iv) which is irregular and can behave unpredictably. So far, the waves have been consistent with our analysis. Kindly operate only near key levels with tight SLs.

Also be aware that FOMC US Fed meets on Sep 17-18 which is early next week. So, please plan entry & exits accordingly.

Original post - 10th Sep 2019 

Posted here - 15th Sep 2019

[Gold December Futures, XAU/Gold SPOT Update] 

As anticipated in the previous updates, the key support regions have been hit. Shorts from 1530-1540 zone last week should look to book gains here.

As long as the key support zone at 1480-1490 [XAU=1473-1483] holds, Gold may retest the key resistance at 1533-1541 [XAU=1526-1534].

 

Original post - 9th Sep 2019 

Posted here - 15th Sep 2019

[Gold December Futures, XAU/Gold SPOT Update] On Friday, we had shared that Gold shall continue to remain in a corrective set up & has the potential to test the key support at 1499 [XAU=1492] & its extension at 1480-1490 [XAU=1473-1483]. 

A new key resistance has now formed at 1537 [XAU=1530] in Gold. As long as this holds, the test of the key supports shared above remains on the cards. 

Important to note that Gold is now in a wave(iv) micro-pattern which is an irregular & whipsawing wave. Kindly operate with small positions & tight stop losses.

Original post - 2nd Sep 2019 

Posted here - 4th Sep 2019

[Gold December Futures, XAU/Gold SPOT Update] 

1525 [XAU = 1516] is now the key support on Gold. As long as this holds, Gold can attempt to make a new higher high through an extension to the key resistance at 1568-1576 [XAU = 1559-1567].

Original post - 22nd Aug 2019 

Posted here - 25th Aug 2019

[Gold December Futures, XAU/Gold SPOT Update] 

We had suggested in our previous update that Gold has a key support at 1503 [XAU=1493] & as long as Gold holds above this, it had the potential to target the retest of the key resistance at 1538 [XAU=1528].

Gold seems to be reading & following our update 😊

It tested 1503 [XAU=1493] twice, once yesterday and then again today, providing two opportunities for traders to go long. It is also currently re-testing the key resistance of 1538 [XAU=1528].

 

Both levels have been hit.

 

Original post - 21st Aug 2019 

Posted here -  25th Aug 2019

 

[Gold December Futures, XAU/Gold SPOT Update] Gold has formed a new layer of key support at 1503 [XAU=1493]

As long as Gold holds above the support regions, it has the potential to target the retest of the key resistance at 1538 [XAU=1528].
 

Original post - 7th Aug 2019 

Posted here - 12th Aug 2019

[Gold December Futures, XAU/Gold SPOT Update] In our last update, we had shared 1521 [XAU=1509] and 1543  [XAU=1531] as the two ultimate extensions that shall be the target and trigger a larger correction downward.

In line with the update, you might have noticed that Gold attempted the 1521 [XAU=1509] key resistance twice and failed to cross it. That said, a third attempt to break 1521  [XAU=1509] and get to 1543 [XAU=1531] cannot be ruled out.

Important to understand that we have followed a bullish count in Gold from the 1270s and then from the 1400s all the way to this level. 1500-1542 are levels where anyone holding long positions from last several weeks on a positional/swing basis should look to book profits.

For short term traders, 1486 [XAU=1474] remains the key support. As long as this holds, Gold can keep see-sawing in a narrow range and make a third attempt at 1521 [XAU=1509].
 

Original post - 7th Aug 2019 

Posted here - 7th Aug 2019

[Gold December Futures, XAU/Gold SPOT Update] In yesterday's update, we had presented a scenario where Gold can continue an extension of wave(v) to break 1486 [XAU=1474] and move up further to 1520 [XAU=1508].

This is exactly what has played out so far. 

 

Original post - 5th Aug 2019 

Posted here -  5th Aug 2019

[Gold December Futures, XAU/Gold SPOT Update] Gold has been moving inline with the previous updates so far and has hit the targets of 1458 & 1466 [XAU or Spot=1446 &1454] and is now trading around 1470 [XAU=1458]. 

 

1440 [XAU=1428] remains the critical key support. As long this key support holds, Gold can target 1486 [XAU=1474]. Important for longs from last week to continuously trail SLs to lock gains.

Original post - 2nd Aug 2019 

Posted here -  5th Aug 2019

[Gold December Futures, XAU/Gold SPOT Update] Gold has smashed through the key resistance of 1434 [XAU or Spot=1422]. Gold shall next target 1458 followed by 1466 [XAU or Spot=1446 followed by 1454]

Longs from earlier this week should continuously trail SLs to protect gains.

Original post - 1st Aug 2019 

Posted here -  5th Aug 2019

 

[Gold December Futures, XAU/Gold SPOT Update]

[Gold has rolled over to the December contract]

Gold is currently trading at ~1417 in the December contract and at ~1406 in the Spot contract or XAU. Please note this difference.

Gold has seen a sell off yesterday with the Fed maintaining reasonable uncertainty in future rate cuts. 

Technically, Gold[Dec] has key supports at 1408 [XAU or Spot=1396].


From a micro-pattern point of view, Gold[Dec] stands a good chance to rally back to retest the key resistance of 1434 [XAU or Spot=1422]
 

Original post - 26th July 2019 

Posted here -  28th July 2019

[Gold August Futures, XAU Update] Gold moved exactly from the key support of 1415 to the key resistance of 1431. The price ping-ponged thrice in this range providing multiple trading opportunities in the last few days.

1431 key resistance was breached briefly yesterday until this move was fundamentally disrupted by US economic data (GDP & Durable Goods) that came in extremely strong and created headwind for Gold.

Original post -  24th July 2019 

Posted here -  28th July 2019

[Gold August Futures, XAU Update] Gold has bounced twice from the key support of 1415.

1431 is now a key resistance

Original post -  23rd July 2019 

Posted here -  28th July 2019

 

[Gold August Futures, XAU Update] Gold has BOUNCED EXACTLY off the key support of 1415 shared in the previous update. Longs from 1415 may move their SL to cost to reduce the risk to zero.

The above opportunity is a classic example of how trades timed near key levels begin with a very small risk [with a tight SL near the key level] and convert to zero risk fairly quickly. Always trade near key levels for minimum risk and maximum reward.

Original post - 22nd July 2019 

Posted here -  28th July 2019

[Gold August Futures, XAU Update] Gold [XAU] has a critical key support at 1415.  As long as this key support holds, a rally could resume to the higher key resistance zones.


 

Original post - 12th July 2019 

Posted here - 13th July 2019

 

[Gold August Futures, XAU Update] In our previous update, we had suggested that the key resistance region of 1427-1429 [XAU=1425-1427] levels shall trigger a pullback to the 1397-1402 [XAU=1395-1400] key support  zone. As anticipated, Gold did pullback and has bounced exactly from the 1402 zone. 

As long as the 1397-1402 [XAU=1395-1400] key support zone holds, Gold has the potential to retest the 1427-1429 [XAU=1425-1427] level.

From a trading perspective, potential longs may be explored on a pullback to the 1397-1402 key support zone with a SL right below 1397.

Original post - 11th July 2019 

Posted here - 13th July 2019

[Gold August Futures, XAU Update] Dovish FOMC meeting minutes and the "act as appropriate to sustain the expansion" comment from Fed Chair Powell provided the necessary catalyst for Gold to break the key resistance of 1410 [XAU=1408] & rise to 1427-1429 [XAU=1425-1427] levels, which is a key resistance zone that can trigger a pullback to 1397-1402 [XAU=1395-1400]  zone


What is important to note is that 1397-1402 [XAU=1395-1400]  zone has now formed a new layer of key support above the 1377-1383 [XAU= 1375-1381] key support zone.

From a trading perspective, potential longs may be explored on a pullback to the 1397-1402 key support zone with a SL right below 1397.

Small positions and tight SLs are a must. Never carry positions from one level to another or average losses.
 

 

Original post - 2nd July 2019 

Posted here - 3rd July 2019

[Gold August Futures, XAU Update]

Gold bounced EXACTLY near the key support region of 1380-1383  [XAU = 1376-1379] as shared by us on Friday. This bounce now needs to take out the key resistance at 1402 [XAU = 1399].

Members who have picked up a long in Gold near the key support of 1380-1383  [XAU = 1376-1379] should move their SL to cost and wait for a potential break of 1402 for a move much higher.

Always trade only near key levels to maintain a good risk:reward.
 

 

Original post - 28th June 2019 

Posted here - 3rd July 2019

[Gold August Futures, XAU Update] Gold is in a wave(iv) micro correction that has the potential to end at 1380-1383 [XAU = 1376-1380]. If no fundamentals disrupt this pattern, once this correction is complete, Gold should rally in wave(v) to higher 1400s.

Gold is making large $20-$30 range moves and hence must be ONLY traded NEAR key levels with a SL of $2-3 below it to keep the risk low and reward high. It is NEVER prudent to carry trades from one key level to another without SLs.

Also, always test with SMALL positions and add once the trade is comfortably in the direction of gains.

 

 

Original post - 20th June 2019 

Posted here - 20th June 2019

 

[Gold Update] When Gold was meandering in wave(iv) around 1270s, we had anticipated a positional set up and move in wave(v) to 1400+ zone. Sharing an excerpt from our update a few weeks back.

GOLD POSITIONAL TRADING STRATEGY SHARED ON 31st MARCH 2019
From a trading perspective, traders may observe carefully & pick good entry points between 1280-1300 in the next 5-7 days to build positional [4-8 weeks] longs for a retest of 1353 first, followed by 1410.


A shining example of how reliable and accurate [Elliott wave + Fibonacci] analysis & methodology is.

Positional longs from 1270 or early 1300 zones may look to book gains here or move SL to lock gains.
 

Original post - 14th June 2019 

Posted here - 14th June 2019

[Gold August Futures, XAU/USD Update] Gold has broken through the key resistances of 1352.7 [XAU = 1348.5] & 1355 [XAU = 1351] which is a good sign of for the macro-bullish set up. That said, moves shall never be linear in only one direction. The current wave may complete near 1361-1366 [XAU = 1357-1362] & may move into a short term retracement & consolidation process again

Short term long positions may either book gains around 1361-1366 or lock gains by moving the SL to 1352 [XAU = 1348]

Original post - 12th June 2019 

Posted here - 13th June 2019

[Gold August Futures, XAU/USD Update] As anticipated, Gold bounced exactly near 1325 [XAU = 1321] which was an ideal place for the corrective dip to end & begin a reversal yesterday. 

For a very bullish set up, Gold shall have to impulsively break through 1352.7 [XAU = 1348.5] & 1355 [XAU = 1351] levels.

Longs from 1325 [XAU = 1321] should move SL to cost to make this long set up a zero loss trade.

Original post - 11th June 2019 

Posted here - 13th June 2019

 

[Gold August Futures, XAU/USD] Gold is very close to ~1325 [XAU = 1321] zone which is an ideal point for the corrective dip to complete and begin the reversal for another run at 1355 [XAU = 1351] or higher.

 

 

Original post - 29th May 2019 

Posted here - 02nd June 2019

 

[Gold Update] Operating in a narrow range constantly teasing the key resistance region of 1290, but receding from it every time a safe haven push is provided by traders. A safe haven push refers to money moving from riskier assets to safer assets such as Gold, JPY etc whenever the market points to uncertainty.

 

That said, despite indices getting closer to doors that may open to significant correction, Gold seems to be not interested in making a move higher. 

Traders need a impulse breakout of the 1290 region to allow confirmation of a potential bottom. Until then, like Silver, prices shall slowly leak lower to 1260 region closer to the next key support of 1261.

In today's US session, S&P shall negotiate with the 2790-2775 door that is about to break open It shall be interesting to watch Gold's reaction to it. 

If this door opens, Will Gold care to break out? Let's see....

Original post - 02nd May 2019 

Posted here - 12th May 2019

[Gold June Futures, XAU/USD] 

Still in no man's land trading with a double inside day in a narrow range between key support of 1267.9 [XAU =1266.9]  & key resistance of 1295 [XAU = 1294]. Yesterday's whipsaw made a vain attempt to break them. Last FOMC [March], the whipsaw lasted for 48 hours over 2 US sessions. 

Technically, we need a break of one of these 2 points for a fresh micro-pattern to play out. In an event, 1267.9 breaks, we may get to a new lower low near 1255-1260 [XAU = 1254-1259], which may form a temporary bottom for a potential trade set up.

Original post - 28th March 2019 

Posted here - 30th March 2019

 

[Gold/Silver] We have been maintaining our Bearish outlook on Gold/Silver for a while now. Earlier today too, we had shared that this correction shall continue in its last leg after which we may transition to a "Bullish" outlook. 

In line with this,a sizable correction has played out today. We are closely watching the price action for confirmation of the end of this correction to identify fresh entry points on LONG opportunities. We shall broadcast a view as soon as we have good visibility. There will be plenty of time to enter these positions.

 

 

Original post - 18th March 2019 

Posted here - 30th March 2019

[GOLD] Unless Gold breaks 1311 & 1316 key technical resistances IMPULSIVELY with FORCE, pull back to 1270 & lower remains a high probability scenario. A break of 1292.5 which is a key support shall not only open the downside to 1270 but shall also make 1244 a possible target. 

Trading strategy:  Last week's bounce to 1300+ levels provides good entry points for a 'SHORT' trade. Small positions at 1300+ and 'Scaling in' at a sustained break of 1292 level provides a clear 1:3 risk reward opportunity.