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RLinda
Feb 7, 2023 6:59 AM

RLinda ! GOLD-> Stopping. Consolidation. Double bottom Long

GoldOANDA

Description

The fall of gold stops in the area of strong liquidity zone, which is below the level of 1869. A retest is formed, which forms a "Double Bottom" pattern. What's next?



The price has moved into a consolidation phase, as evidenced by the volume profile area. The price is forming a double bottom, which could hold the price, unless of course further fundamental prospects force gold to go lower.

I expect the price may consolidate between resistance 1879 and support 1869 (1863). In that case, buying and selling are possible.

But there is a key risk zone for long positions, when the resistance of 1879 will be broken and a consolidation above the level will form. In this case there will be a chance of movement to the area of 1900.

Regards, R.Linda!
Comments
RLinda
Hello traders! What do u think of GOLD?
taikengkau
@RLinda i saw something interesting in gold. gold gonna go upward 1971 in this week and 2060 in the next week. im pretty sure this will happen
Gold-Tech
@RLinda, I agree with the priority. We will keep an eye on the market
DemoDiaryFX_Trading
@RLinda, hellon Linda Gold is this for me now
TheAnonymousBanker
my view....
karimibehrooz63
Like
Williamforex
appreciate
Goldviewfx
Great chartwork
TheTradersAvenue
Execellent chart analysis. Thank you
Mihai_Iacob
Great analysis on GOLD. Let's see what will happen in time!
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