The price of gold is currently positioned at the upper end of a channel and appears poised to decline. I am particularly interested in the timeframe spanning from 2001 to 2006, during which I will be on the lookout for potential buying opportunities. On a weekly timeframe, it is expected that there will be a pullback before the price eventually moves towards 2070.
There are multiple instances where a purchasing opportunity can be identified around the range of 1981.94 - 1985. As per my earlier analysis, I had forecasted that the market would respond at this price level.
I have identified the price range of 0.87300-0.87525 as an area of interest where we may observe a favorable market reaction and potential buying opportunities.
There are several confluences in the 1.75000-1.75201 price range that suggest it may be a good time to consider selling. I had previously predicted that the market would react around this price level, as stated in my earlier analysis.
I am keeping an eye out for a potential buying opportunity in the gold market once it reaches the range of 1977.877 to 1988.479, as I have identified several confluences that support this decision.
1) I am waiting for ETH to break the channel and head to 2279.3 -2421.1 then I will look for sells 2) waiting for ETH to go back to the bottom on the channel to look for buys 1415.4 - 1497.7
Gold will be hitting the ATH within next few weeks
Silver is currently in a channel I will wait for a break of the channel and the strong decline trend line.
Will GBPJPY break the channel or will it start to move down.
Will NZDCAD break the channel or will it have a false breakout
Waiting to see if GBPNZD can break out of the channel or will it fake out
Confluences to long Incline trend line Decline trend line Reversal point -0.618 bearish fib target rejection candlesticks on 15 minute gold looks good to go down
Confluences to short Resistance level 300 pip move will need to pull back to go higher US dollar has stopped and starting to reject New York session -0.27 weekly bullish fib 15 minute rejection candlesticks
1 Hour Timeframe False breakout gold should start moving bullish once it breaks out Gold should hit old ATH within next few months
I have expecting to see some nice reactions from 1.23238 - 1.23345 AOI
Around 87.732 -87.875 we will see a nice reaction once we see rejection candlesticks I will look to get into a sell trade.
Bitcoin is having a pull back after a few bullish weeks. Go to the higher timeframes to make it clear. We should see a reaction around $24632 - $25108 once its at the AOI price will should you where the support level is then it will go up to recap the support level that will be an opportunity to get in a quick long setup.
Dow jones is starting to move down as expected. Gold has found support and is starting to move up. I am expecting to see a reaction at this price 12823. Trading can become simple. Go to the higher timeframes make it as clear as possible then go to the lower timeframes.