PooyaSalehipour
Long

The gold cycle entered to 6th year

TVC:GOLD   CFDs on Gold (US$ / OZ)
Dear trader.

Two month ago i have been publish an idea that looking for bottom on the chart for gold but it doesn't happen. Last week just i see a red candle in the end of cycle. It seems we have change trend on this chart in the near future and we can have a good deal with gold right now. Because, I have many evidence. It doesn't matter what other pair tell us what going on with gold . I just take a look at gold .

Just take a look at this analysis on 19th Oct:


many other people tell me if you see bottom why you don't sell gold and the answer is clear. We are not trading gold because Gold has commodity value.

Alright guys, lets back to the gold in long term view:

As you see, We have a trendline from 417 to 1043 and the result for third point is 1207. So, We break the 1207. But what happen? just we were 12 week under trend line and it's not a big time to be there for get longterm bearish signal.

Now i tell you my evidence to give long term bullish signal:

Yes! We have deny the bearish signal with a STRONGGGGG Fullbody candle. And the other hand we break the 200SMA with this fullbody candle. OMG!


An overview of gold in six years, As you see we have jumping like a spring after end of this cycle's and i believe this year we have double jump. Because when we deny any bearish trend and when back on the previous bullish trend we have get energy to break all resistance.

So, Lets describe all years:


1) Jump from 1202 to 1390


2) Jump from 1195 to 1307


3) Jump from 1066 to 1375


4) Jump from 1132 to 1358


5) Jump from 1254 to 1365

And 6th cycle? ..... ?!
I guess we have a 3month target for 1361 to 1384 and if we break this level we can see 1420 and 1580 for end of 2019.




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Have a good trade,
Technical analysis by:
Pooya Salehipour
Thanks. Very informative..
+1 Reply
@burakpadir, Thank you my friend. i think if you buy cash gold in turkey its better to buy dollar. because you have double gain.
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