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basictradingtv
Jul 31, 2023 5:59 PM

Gold -> Wait For This Daily Setup!Β Long

Gold Spot (XAUUSD)FXOpen

Description

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Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of GoldπŸ’ͺ

After the simply monthly break and retest and also a retest of the 0.382 monthly fibonacci retracement Gold perfectly created the bullish continuation towards the upside.

With the recent break and retest of a major previous weekly structure zone, in confluence with bullish moving averages, I simply do expect more growth on Gold over the next couple of weeks.

My last analysis on Gold - linked below - perfectly played out once again and I am now just waiting for a clear breakout of the bullflag and a break above resistance and then also the path on the daily timeframe is clear fore more upside.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprintπŸ“ˆ

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset:
Comments
FirstNameHelen
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Well, if you say so about XAUUSD, its probably true, agreed
basictradingtv
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@FirstNameHelen, I hope so Helen!
CryptoCheck-
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Superb πŸ‘
basictradingtv
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@CryptoCheck-, always putting in 100%!
P_S_trade
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Thank you for sharing your thoughts, they are quite accurate.
basictradingtv
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@P_S_trade, thanks PS ;)
KABHI_FOREX_TRADING
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Great job
basictradingtv
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@KABHI_FOREX_TRADING, appreciate it!
RLinda
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Brilliant! Not the most standard analysis, but for a given asset it describes its movement scenario well.
basictradingtv
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@RLinda, yes, I hope it describes it well Linda ,)
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