Below in this Linked Related Idea (sorry if the charts a little messy too much analysis over the years) - we see that History does in fact repeat its self. The second flag pattern is coming to an end transitioning to the next leg up ? - However there's still room for down side.
Currently buyer interest is increasing and RSI Daily TF is showing a slow shift in...
Gold is approaching a major daily structure.
1688 - 1660 cluster was perfectly respected by the market in 2020 and we see a strong bearish / bullish reaction from that.
Because the market is relatively oversold at the moment,
chances will be high to see a pullback from that structure.
Wait for the intraday confirmation...
Can look for a Bullish formation coz we are bearish for a time now and we have a falling wedge pattern so could look for a long position and if it does the our key level can be the target if not we break the support then we can continue bearish towards our lower key level...
Any ways this is just my thought of the market for next week...
The general overall trend for gold is bearish, in order for gold to make a deeper move lower more liquidity will be needed. Wait for gold to break out of the triangle pattern and then for a pullback to the smaller time frame resistance zone. Place entry as shown and target 1710 as a resistance point which should be retested as shown. Depending on the bullish...
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I will begin NASDAQ ZeroMarket US100 Chart Analysis for March 5.
It is a 30-minute...
Gold price is still in the support zone 1698.61. Let me remind you that it came to this zone after it fell from the resistance zone of 1817.90 last month. And so far the price has not been able to recover in positions. Nevertheless, I patiently await growth.
The price is in a strong support zone, which is formed by two strong lines. One of them is August 2020,...
Too many people this week have been trying to catch the bottom of this move losing money trying to go Long on Gold. Maybe now we bounce off the 61.8% back up. BUT IF we drop below, we will target $1600 around the 76.4% Major Key Level.
Last Major analysis was violated and gold smashed past solid support @ 1764. As you can see here, price is approaching the bottom of a year-strong parallel channel which also aligns with a key support area (1670-80). Will be looking for buys at 1665-70 area. I'm suspecting that price will rise slightly throughout the night, where it could collapse around NFP time...
Trading suggestion:
There is a possibility of temporary retracement to the suggested support line (1678). If so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
XAUUSD is in a downtrend, and the continuation of the downtrend is expected. as you see XAUUSD is in the bearish daily channel and as long as it...
I did initially see a possible start of the precious metal moving back to the main trend pre-end of March, as price began to settle around 1800, a sudden push south the last 7 days may be further indication of a more momentum related push north to return to the trend line from 2018, my long term view did show this dip, (see linked chart below), but with less...
Gold has been steadily making its way down. We could maybe see on more SHORT entry. Wait for price to correct its way to the fibonacci levels.
See the links below on where you can find more information on how I chart.
Trade Safe!
