Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
20 August
Video analysis:
Gold XAUUSD:
We hit the sell opportunity at 4355/4365 and Gold held here for 4 hours but then the Treasury Dept announced support of longer bond prices.
Shorts were immediately stopped above 4375 and we shot higher to my longer term target of 4495/4505 (which I had talked about last week when we had the first buy signals).
In the Telegram group we bought Gold at 4450/4440 before we hit the target of 4495/4505, pocketing 500 ticks.
First support at 4485/4475 & longs need stops below 4465.
A break lower however targets better support at 4450/4440 (where we were buying in the Telegram group yesterday).
Longs need stops below 4430.
We have resistance at 4505/4515 & we are struggling here. However I think shorts are risky & I prefer to buy a break above 4525, targeting 4545/49 & 4565/4570.Eventually I can see Gold reaching 4585/4595.
Daily technical analysis & precision signals from a 40 year trading veteran at
https://www.daytradeideas.co.uk/
Join my free telegram group for analysis and signals.
Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
Jason Sen, Director
https://www.daytradeideas.co.uk
20260820
