Final analysis for 2018 with XAU
Gold advancing into the $1,265 region as expected and not showing any signs of a pull back just yet.
I am still backing this fall to challenge $1,220 in the coming month of so of the new year.
Yellow projection: Price could drop from current levels on a 1hr time frame, but overall could respect the red square. (100% extension of the most current range)
Three optimistic targets have been labelled as we await for price to challenge the trend line of target 1. Once broken, look for sell opportunities.
Teal projection: Second scenario as mentioned in previous posts advancing into the $1,275+ region. With the FED looking for further rate hikes in 2019, this is becoming quite the balancing act.
1. FED rate hikes appreciates the US dollar = Possible weakness in gold
2, FED rate hikes moves the USD closer to some sort of recession = Possible strength in gold
Have a great Christmas and safe transition into 2019. Happy trading!
Gold advancing into the $1,265 region as expected and not showing any signs of a pull back just yet.
I am still backing this fall to challenge $1,220 in the coming month of so of the new year.
Yellow projection: Price could drop from current levels on a 1hr time frame, but overall could respect the red square. (100% extension of the most current range)
Three optimistic targets have been labelled as we await for price to challenge the trend line of target 1. Once broken, look for sell opportunities.
Teal projection: Second scenario as mentioned in previous posts advancing into the $1,275+ region. With the FED looking for further rate hikes in 2019, this is becoming quite the balancing act.
1. FED rate hikes appreciates the US dollar = Possible weakness in gold
2, FED rate hikes moves the USD closer to some sort of recession = Possible strength in gold
Have a great Christmas and safe transition into 2019. Happy trading!
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The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.
Twitter: twitter.com/TradersMission
The information provided by Traders Mission is for educational purposes only. All information is provided in good faith and is not financial advice.