As mentioned and anticipated in the last post on gold, it broke out of the falling channel and beautifully
Long term( i.e on a daily tf ) target of gold $2380-2410 is bare minimum for any meaningful pullback to happen.
Does this mean it is going to go in the trajectory of starship to reach that target? Hell NO. Hence, Every Dip is a buy.
Short term Resistance/Support for short term Traders:
Chart is self explanatory
1957-1962, around 2000 poses a minor resistance and possible for minor pull backs.
1902-1909 should hold the support. if broken, can retest the upper line of the channel (only happens after heading further in 1 of 3 to complete 2 of 3)
Trade what you see, not what you feel.
Please like the post if find useful. Follow me for Elliott wave analysis and technical on different asset classes.
*Stay ahead of the curve with quality technical Analysis*
note: I play long term in gold. If you are a safe player like me and want to invest in safer alternatives comparatively which gives good return than investing directly into gold( if gold grows 1x, the instrument grows 3x) , Please like the idea, follow me and comment.
THANK YOU for SUPPORTING.
Long term( i.e on a daily tf ) target of gold $2380-2410 is bare minimum for any meaningful pullback to happen.
Does this mean it is going to go in the trajectory of starship to reach that target? Hell NO. Hence, Every Dip is a buy.
Short term Resistance/Support for short term Traders:
Chart is self explanatory
1957-1962, around 2000 poses a minor resistance and possible for minor pull backs.
1902-1909 should hold the support. if broken, can retest the upper line of the channel (only happens after heading further in 1 of 3 to complete 2 of 3)
Trade what you see, not what you feel.
Please like the post if find useful. Follow me for Elliott wave analysis and technical on different asset classes.
*Stay ahead of the curve with quality technical Analysis*
note: I play long term in gold. If you are a safe player like me and want to invest in safer alternatives comparatively which gives good return than investing directly into gold( if gold grows 1x, the instrument grows 3x) , Please like the idea, follow me and comment.
THANK YOU for SUPPORTING.