Gold - Big Picture Review

FX:XAUUSD   Gold Spot / U.S. Dollar
5011 73

Locally - Up to 1350 seems to be in the cards.

The last few months could be a succession of bear trap and bull trap (now under way).

Long Term - Gold shall increase - It makes sens from a fundamental and a technical point of view.

However, correcting to circa 900 is really a realistic scenario that makes sense from a fibonaci and an elliott waves perspective.

The Long Term fundamental bullish scenario holds true here - No discussion but it was holding true for a while already and has failed.

Until 1370 is cleared decisively - the correction is still at play...

- Long now until 1350.
- At 1350 - Consider investing some of the proceeds into managing a short.
- If 1350 crossed decisively - Correction possibly over.
- If Gold falls to 900 - buy very strategically and for the long term.
- If you are bull and keep longs through 1350 and you are right - Congratulations.
afbitcoins afbitcoins
Sorry don't know how to embed my image into a chart. To me it looks like gold vs US$ has already broken out of bear channel. Price is in log scale
jangseohee afbitcoins
1. the moment you click "reply", a box appear
2. you see that "lighthing" little box on right top
3. insert the url of your chart (if it has been posted)
4. if not been posted, click on the camera and a temporary URL will appear, copy it and insert here :-)
afbitcoins afbitcoins
Thanks very much, handy to know :)
jangseohee afbitcoins
welcome.. post it now :-)
afbitcoins afbitcoins
3 months ago, i've only consider 45degree movement, it's my mistake i will take into account 60 & 30 degree movement.
The big red resistance line could be the party spoiler.. around 93.5-94, IMHO

In my Monthly channel is valid plus the cyclical look of it, i could see gold hitting lower channel of around 500 in 2031! IMHO
bull flag? or downtrend continuation?
+6 Reply
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