First things first, I'm a 22 year old trader from the UK, I trade full time and primarily trade gold . I also trade a few currency pairs or indicies if I feel there is good risk to reward ratio coupled with positive correlations against other currency pairs and gold .
The chart I'm about to show you I was actually going to release upon reaching 10,000 followers on Tradebird, but here I am, just giving it away on Trading View. Good website by the way!
Just look at the retouches of gold , on the outer tier of the golden shaded arcs. I have somewhat " back-tested " this idea of arc-theory on 3 seperate occasions in the past, and as you can see; they have been successful predictions/calls.
I plan on SHORT-SELLING Gold ( XAU/USD ) When the price meets the edge of the golden arc, However.. PLEASE NOTE that anything under 1280~ IS STILL A VALID AREA for gold to test. I am sure 1255 region will be the ideal short-sell area, However, keep in mind that 1260 - 1280 MAY possibly occur. Keep a good healthy margin, add to your positions in increments.
Also, for anyone who uses the 1 week charts: This move moves accordingly to the forecasted movements of the 6 YEAR DOWNWARD ON GOLD - I just thought I would mention that
I usually analyse charts for free - just ask me - You can usually find me from 7-9am - 5am - I don't sleep much - So feel free to find me on Tradebird, the social media network for Traders.
My Username on Tradebird is: Divit ( Ranked #1 )
Thanks and if you have any questions, please ask away - I welcome constructive criticism.
(Chart is on 1 day time frame - D1 )
P.S: You may see a thick diagonal gradient line going up on the right hand side of my gold chart, Ignore this - It is an plotting a small on the 15-30 minutes, and is irrelevant to the D1 Analysis.
Also Fibonacci is used here just to check upon consolidation ranges in price as a guide/helper.
GOLD TECHNICAL ANALYSIS – Gold prices remain at a standstill below the 38.2% Fibonacci expansionat 1271.20. Breaking above this barrier on a daily closing basis exposes the 1291.65-95.46 area (50% level, double top). Alternatively, a reversal below inflection point support at 1260.85 opens the door for a retest of the 23.6% Fib at 1245.91.