31/12/2019 - XauUsd Rate at 1525 is considered as A Secure Resistance Level Suppressing Target High at 1519 New Support Levels and Targets Low exist at 1468 & 1451 Downtrend Mode.
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Minutes Later - 31/12/2019 A Break Above 1525 Will lead to 1530 as Resistance Level Lower Targets at 1468 & 1451 Will Remain in play to the Downside.
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6/01/2020 Mid-Afternoon A Gold Rate Update - From 1525 & 1530 As nominated High & Resistance Level. The Gold Rate is obversely in-tended on Continuation Higher Highs as of A break above 1530. So i need to reconsider my decision as to A Mayor Trend-Reversal to the down-side. As of Current High 1588 - Is at 127% percent bar on the h4 chart - All other Charts are at An Overbought Value State and at 400% percent bar and well above this Level. So next Expected Outcome - Is that the Current Trend will find A Consolidation Phase from 1588 Highs - Current Resistance level is at 1572 Immediate Target Lower & Support Level will include 1501 & 1499. Downtrend Mode.
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Important Notes : Can you see how trading ideas or trading to rules - Come`s into play as the charts extend more and more relevant data which is needed in order - So we can qualify the charted picture to outcome Or drawing in the bigger picture then ? So much more quickly & clearly whilst the trends are establishing themselves.
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08/01/2020 Yes - As you can see - Price adds an extra bar length at 200% bar to 1611 at the 5 minute and 15 minute charts But will still come back down to 1500 - I had the chart marked out for this possibility - but was not sure on weather the price would make the adjustment.
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11/01/2020 Gold Rate Update - From Current Low A Possible Swing attempt towards 1575 then continuation Down-slide onto 1500 As Secure Support Level & Target Low.
1500 target by around end of feb when china deal is struck, for now my view is some down then back up 1630s
UnknownUnicorn5176330
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@Jaypipin, Current Resistance level is at 1572 - the Rate adds A 5 & 15 minute bar high - this should conclude the Uptrend Rise in Price.
Immediate Target Lower & Support Level will include 1501 & 1499.
Downtrend Mode.