the 4hr candle bar drop below the ichimoku cloud threshold suggested a significant drop after bullish exhaustion and release of the coronavirus news, a further drop is highlighted by the fibonacci retracement as 1577 support is broken with impending bar consolidation accentuating the drop
PRICE RETRACED UP TO 50% FIB TO GRAB LIQUIDITY WHILE TRAPPING BUYERS AND PUSHING OUT SELLERS. IT IS NOW READY TO DROP DOWN TO 1620 BEFORE DECIDING ITS NEXT MOVE. FOLLOW MY INSTA BA_INVESTMENTS FOR MORE FREE ANALYSIS, SIGNALS AND ACCOUNT MANAGEMENT.
I feel like I am watching a bowman pulling back the cord of his bow to fire his arrow forward, feels the same with gold the bigger the pullback the bigger the move forward, thats where we are now and the bow has been pulled back, more inclusive analysis from the prvious chart see link below
Free Telegram Gold signal channel: t.me
Prices appear in top shape,
Prices are likely to fall further this week.
Investors are advised to long near support levels.
As the chart show.
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------------------------------- 2020.2.25 uk
Gold gold gold
Can we see the new highs breaking 1700 buyers pushing the pair or is it a massive dump from here
Please note this is not a investment idea as when trading CFD your capital is at risk
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With XAUUSD closing the week with powerful candlestick, the metal is poised to test above 1680 in the coming week(s). Gold optimism is at extreme on weekly, so it's not a call to buy at this level except there is extreme pessimism on the lower timeframe (Daily down to H4).
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your...
The long term direction on Gold looks only one way (see chart below), however short term we are looking at some movement, there is a need to retrace and I believe the retrace will be a slow decent, as seen in chart, but before that retrace there is some nice movements. The faint line seen in the chart is taken from the 2013 path during Golds rise to the highest...
Gold breakout & looking fantastic, next level I see is 1775
I'm a big holder of Ariana Resources AAU & have targets of 4p or 6.2p upon JV news within next 5 weeks.
Costs for mining are extremely at low level - $500
Look for gold producers with attractive ASIC!!