The recent decline in gold below $2,260 was a result of profit-taking, following its surge to a new all-time high near $2,280. Adding to this, investors showed reluctance in betting on an extended rally in XAU/USD, owing to the rising US Treasury bond yields. Despite this, the bullish trend for XAU/USD remains firm as per the daily chart, with the pair...
Gold is in a large ascending triangle on the weekly time frame and also at C&H if it follows these patterns we would have seen gold's biggest historical rally. 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️⤵️
As you see in the chart, there is a breakout in the uptrend. and of course, the retest will draw the 2nd shoulder! Then the road to $1615. Good luck! I hope you share your thoughts in the comments have a good weekend :D
BUY GOLD, ask later. Downtrend seems to have ended and gold could be able to resume its bull run into the 2022! Liquidity pool was tested already three times and they reacted, possible last retest before running up for all the year. SImple trade, simple stop loss, great entry point. Only risk is the china bullshit, that nobody knows how it could unfold and if can...
RETEST ZONE > 1820 - 1835, SHORT AND TARGET IS 1700
4 H tf chart we can see a clear symmetrical triangle continuation pattern, entries and targets at the chart.
It is funny how a single player make use of market structure to make a successful campaign...
Read text written in the chart
Bulls are pushing - Bears are laughing ...Neutral position on this one due to complex candle patterns. Waiting on further signals from Weekly view...expect low volume this week. USD strength will be tested during final USD data this week (2015). DP - 1063s