Gold Trade Hit Short-Term Target

Gold Trade Hit Short-Term Target

2021-08-17 • Updated

Gold managed to rise further at the end of last week’s trading.

4H Chart 

XAUUSDH4 16 Aug 2021.png

Daily Chart 

XAUUSDDaily 16 Aug 2021.png

Gold managed to rise further at the end of last week’s trading, reaching our short-term target at 1750 and 1780 mentioned in our weekly video market update and in our previous daily notes. The long position signal was issued at 1730 on the short and the medium-term. Gold began the week lower, back to 1773 USD/Oz so far, while the technical indicators are still encouraging. Yet, I prefer to keep the medium-term position for now and keep the stop loss at the entry to protect the position from any possible loss. As for this week, Gold needs to hold above 1760 USD/Oz, while a stabilization above that level might lead to another leg higher, targeting 1800 USD/Oz.

S3 S2 S1 Pivot R1 R2 R3
1713.83 1742.17 1760.95 1770.51 1789.29 1798.85 1827.19



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The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.


Even though we've only witnessed sluggish movements from the Dollar over the past few weeks, the general idea and bias still seem intact and untampered. The bullish impulse however can be seen as "searching for support".

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