XAU/USD Analysis, AMAZING entry to ride this trend
Hello Traders!
It's about time I begin to expand my Technical Analysis to more assets than just Cryptocurrency. So here we are, with a really solid entry into what could end up being one of the largest bull markets for Gold that we have ever seen.
I don't feel like I need to do a deep-dive into the fundamentals as to what makes Gold a good investment, there are much more intelligent and knowledgeable people to listen to than I. So I will offer just my Technical perspective.
My main directional bias here is, of course, going to be the nested Measured Move Traditional series from the 2015 Gold low. Not to mention that the 2015 Low was a perfect Traditional 50% entry that has still YET to reach it's Profit Target of $2,310. Adding to the directional bias and what makes me think we will be seeing a large rally soon is the way price has reacted to the main Correction Channel on the chart. The reversals off of the Lower Boundary and now the reversal off of the Median Line of the same channel really aid the probability of Gold going up and reaching target(s).
Just as easy that this asset can go to it's target, we could break the established low and reach the MM SHORT target at $1690. When it comes to probability of which will happen, I would say we are at a 50/50 chance of reaching the MM Short target, which just happens to be perfectly confluent with our 2nd entry in the Nested MM Long from the 2015 low. The only aspect of this current setup that makes me think we will NOT see $1,690 is the way price has been adhering to the Correction Channel.
For us retail traders, we are trading the Nested MM Traditional series here as, most of us, are unable to trade such ridiculously large setups with an appropriate risk profile like the institutions are able to.
Some key levels to pay attention to...
Entry 1: $1,760 (already triggered)
Entry 2: $1,690
Directional Stop: $1,634
Nested MM Target 1: $2,222
Nested MM Target 2: Trailing Stop
Larger Degree MM Target: $2,310
I hope you guys enjoy this analysis! If there are other asset classes you all would like to see, please comment below! I will be covering Silver (XAUUSD) and GOLDSILVER very shortly as well.
Thanks!
Happy Trading, always manage your risk.
It's about time I begin to expand my Technical Analysis to more assets than just Cryptocurrency. So here we are, with a really solid entry into what could end up being one of the largest bull markets for Gold that we have ever seen.
I don't feel like I need to do a deep-dive into the fundamentals as to what makes Gold a good investment, there are much more intelligent and knowledgeable people to listen to than I. So I will offer just my Technical perspective.
My main directional bias here is, of course, going to be the nested Measured Move Traditional series from the 2015 Gold low. Not to mention that the 2015 Low was a perfect Traditional 50% entry that has still YET to reach it's Profit Target of $2,310. Adding to the directional bias and what makes me think we will be seeing a large rally soon is the way price has reacted to the main Correction Channel on the chart. The reversals off of the Lower Boundary and now the reversal off of the Median Line of the same channel really aid the probability of Gold going up and reaching target(s).
Just as easy that this asset can go to it's target, we could break the established low and reach the MM SHORT target at $1690. When it comes to probability of which will happen, I would say we are at a 50/50 chance of reaching the MM Short target, which just happens to be perfectly confluent with our 2nd entry in the Nested MM Long from the 2015 low. The only aspect of this current setup that makes me think we will NOT see $1,690 is the way price has been adhering to the Correction Channel.
For us retail traders, we are trading the Nested MM Traditional series here as, most of us, are unable to trade such ridiculously large setups with an appropriate risk profile like the institutions are able to.
Some key levels to pay attention to...
Entry 1: $1,760 (already triggered)
Entry 2: $1,690
Directional Stop: $1,634
Nested MM Target 1: $2,222
Nested MM Target 2: Trailing Stop
Larger Degree MM Target: $2,310
I hope you guys enjoy this analysis! If there are other asset classes you all would like to see, please comment below! I will be covering Silver (XAUUSD) and GOLDSILVER very shortly as well.
Thanks!
Happy Trading, always manage your risk.
