Gold Forecast And Technical Analysis

Hi Traders! Gold forecast and technical analysis is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting, useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available!

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1 Gold H4(4 Hours) Chart Analysis – Key Resistance Zone, Bearish Hidden Divergence
2 Trading Tips

Gold H4(4 Hours) Chart Analysis – Key Resistance Zone, Bearish Hidden Divergence

On the H4 chart, we have a strong resistance zone that has formed and the price which is moving higher is currently nearing this strong resistance zone. Also, the 200 moving averages coincides in the same level which makes this area a key resistance zone for us. In addition to this, we have a bearish hidden divergence that has formed between the first high that has formed at 1831.70 and the second high that has formed at 1782.51, followed by a continuing bearish divergence based on the MACD indicator. We may consider these as evidences of bearish pressure and also currently there are no signs opposing this bearish view. So in my POV, based on all this, there are two possible scenarios from here. The price might directly move lower from the current zone or alternatively the price might create one push higher, reach the key resistance and then it might bounce lower from this zone. In either ways my view remains bearish here until the key resistance zone holds.

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

Also don’t forget to protect your sell trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.