anand1988

anand1988 Updated 

Gold has been making multiple H&S patterns since ATH, this time again on 1H & then on 4H it has formed H&S indicating bull gas in this period seems to be fading. I am adding user Saaed966 H&S Pattern Formation link to my idea as I really loved it! Also note there is Shooting Star Candle formed on Weekly chart. Hoping for a good short this week.

anand1988 Updated 

EURUSD has had enough of uptrend, it has this weird double top formation being created and will fall down to complete the structure. Due to the reason of new lockdowns in EU, DXY is going to get a boost before US election, so EUR, Gold, Silver will fall temporarily and once Stimulus package result comes out, they all will fly again to crash the DXY.

anand1988 Updated 

DXY is bullish due to increasing COVID cases in US and Europe which is affecting EURUSD big time, also we still do not have any update of US Stimulus from the US Administration which is adversely affecting XAUUSD & Yields

anand1988

US OIL is in range since many weeks now and it will stay until new catalyst will be found. It pulled back after Baker Hughes Report last friday, and now I am expecting it to climb back to R1 or the R2 because it it keeps on making W formation since last few weeks on 1H and 4H charts.

anand1988

It is a clear bear flag, down!

anand1988 Updated 

Price looks like it is going to make double bottom formation from where we can long till 39.8-40.1, but this is a temporary and short term move, expecting it to occur today or max by tomorrow. The main trend is short on Daily & Weekly time frames and target towards south looks like: 38, 37, 36, 35 on long term basis.

anand1988 Updated 

Price can go 1900 and reverse to form HEAD, after that right shoulder movements can start, previously we have seen many H&S patterns from 2015 to 1900 range

anand1988

Price bounced 9 times from the yellow area, Triangles are getting smaller indicating bull exhaustion on 4H time frame, All news of Covid, Stimulus, Inflation are priced in, until there is a new Geopolitical tension it wont go up, Expecting a new retracement this week towards south.

anand1988

Looks like head & shoulder pattern building again, if yes then we'll have one more round downwards.

anand1988

Please monitor price action towards this area, if it goes below or comes near this area, we have good chance of going down more which may reverse bullish trend

anand1988

Monthly Chart- Gold is in all time Cup and Handle Pattern on the monthly chart / Weekly Chart- Target in Blue / Daily Chart- Target in Purple / 4H Chart- Gap Up opening might close / 1H Chart- Looks bleak to 1611 As of now it seems no Technical patterns are working, big corrections might not happen. The BIG BULL has awaken targeting all time high 1920.94.

anand1988

Monthly Chart- Gold is in all time Cup and Handle Pattern on the monthly chart / Weekly Chart- Target in Blue / Daily Chart- Target in Purple / 4H Chart- Gap Up opening might close / 1H Chart- Looks bleak to 1611 As of now it seems no Technical patterns are working, big corrections might not happen. The BIG BULL has awaken targeting all time high 1920.94.

anand1988

As shown on daily chart, similar rally occurred last time with a massive green curve of $150 and the same happened this time as well, so technically $40 correction is possible unless we don't have any further geopolitical news.

anand1988

I mentioned in my previous idea that we will short Gold after one more push above $1500, just some patience was needed. It was also mentioned that $1480 has become very hard for Gold to break. Yesterday it breached but H4 candle did not close on that price point meaning still it is getting difficult for it to break. We will wait and watch for this to break. For...

anand1988

I mentioned in my previous idea that we will short Gold after one more push above $1500, just some patience was needed. It was also mentioned that $1480 has become very hard for Gold to break. Yesterday it breached but H4 candle did not close on that price point meaning still it is getting difficult for it to break. We will wait and watch for this to break. For...

anand1988

Dear All, this is my first idea which I am sharing with you. I am new to Candlestick pattern, trying to research and learn as much as I can. Please let me know your comments which will be important for me to learn more. My Analysis on Gold: Gold is very strong instrument and not like any other. It is in bull market since the inception. Currently it is in bull...