Since the start of September Gold has been in a descending wedge, but since the start of december it has also been in a ascending triangle, I see Gold going in one of a few ways:
1. Short to and breaking below the triangle and a possible return to the base of the wedge, probably around 1420. (dont want to think about this)
2. Short to and bouceing off the base of...
Gold is widely considering to be going past 1500 in the very near future.. for now though... expecting it to reach around 1484 in the next week with the usual bounce between ascending channel. any break through support and expect it drop to 1455 but a break through the resistance and 1515 can be expected
Gold has been in corrective wave since mid-August and now bullish on daily. For now, I am neutral on gold until I see the weekly sentiments turns to bull (weekly sentiment is bearish). A rally above the bullish wedge can change the weekly dynamics. Seasonality, gold is bullish, so a pullback on daily towards after weekly outlook changes will be a good entry for buy.
when looking at Gold on the daily charts you can tell it is starting to form a triangle. having looked at the 4 hourly chart it is showing a flag formation, potential to sell once support has broken. This is a swing.
- Structure: Downwards
- Price approaching ascending trend line channel
- Approaching high timeframe resistance zone
- RSI Divergence suggest high momentum imminent
Sell to ascending channel bottom (@56.50)
psychological level, then buy to ascending channel top (@61.00)
From the analysis it can be seen that the fractal sequences do not follow each other in amplitude of 1-2 or 2-1. But in the proportions above the fractal arrows. The point is that the next sequence of the exchange rate is not 1-2 but 1-2.25. This is an important factor. After all, the answer is not 2-1 but 2-0.75. Because exchange rate amplitude shifts higher by...
As a zoom in from a previous chart analysis, gold went with pace to 1486, as of late a Trump tweet sent it back to 1470, nothing special here, the overall trend still shows a break of 1600 in the new Year, I forsee further break of 1700 by May
The analysis shows that gold may be ahead of a sustained rise. The last accumulation fractal is copied (blue field). Therefore, I assume that within a week, the exchange rate may move towards a more permanent upward trend. The figure also shows another important detail. The current accumulation fractal has twice the amplitude as the copied original fractal. From...
Hope all is well. My 19th published trade on Tradingview.com (USDC was an amazing trade, but we, unfortunately, have haters that reported my trade.)
*Please keep yourself alerted on my trades, I will advise either on my Instagram (@Saifsofficial) or in the comment section in Tradingview.com*
XAUUSD (Gold) Long, my reason why. Taking fundamental...