GoldCartel

Potential BIG trade

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
This analysis fails if the price break above the red line.

PS: Click the link in the Yellow circle to see the previous analysis

Catalyst:
- Daily time-frame price action
Comment: Fed Chair Powell:
-Consumer prices remain particularly soft in hard-hit sectors
-Pandemic has left a significant imprint on inflation
-Increase in B/S has materially eased financial conditions and is providing substantial support to the economy
-Essential to preserve the flow of credit
Comment: US Unemployment Claims
885K
Comment:
Comment: Let's see if that was a real rejection or not

Comment: This analysis is valid once the price closed below the SELL ZONE.
Comment:
Comment: The analysis valid if it can break below the channel

Comment: If the price able to breaks 1850, it could be a potential HUGE head and shoulders.

If that's a real HS, this trade could be the greatest trade of next year.

1850s zone is very crucial. Keep your guard up.

Comment: Breaking News:

PALM BEACH, Fla. (Reuters) - U.S. President Donald Trump on Sunday signed into law a $2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans and averting a partial federal government shutdown, a source familiar with the matter said.
Comment: I sent this chart to my clients, it has reached the target 1 so far

Comment: BREAKING: Treasury Secretary Mnuchin says stimulus payments to Americans "may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week"
I'm not a salesman who sells a "Master class trading strategy." I'm a full-time trader, and I trade to pay my bills.

I provide daily detailed analysis and trading setup.
More info: https://t.me/goldcartel

Comments

it failed 😭
+3 Reply
man i love your analysis
keep up the good work
i have same targets like you
let me show you why i think this way
1D

1H

15m
+2 Reply
@peyfx, I agree, Potential channel. There's some room to go up a little bit; maybe it will retest 70-74, maybe not. But currently, I trust the daily chart. As long as it stays below the daily neckline, I reckon XAU will fall to our targets.
Reply
peyfx GoldCartel
@GoldCartel, exactly mate
you have good perspective on charts
appreciate it
Reply
@peyfx, Thanks, likewise
+1 Reply
Hi! I agree with your forecast and I have very similar idea. However, now it is necessary to watch closely the level specified on the chart.
Reply
GoldCartel Yuriy_Kuznetsov
@Yuriy_Kuznetsov, Thanks for the feedback. Yes, Indeed, let's focus on the SELL zone. Good luck!
Reply
4H candle bearish engulfing, can consider fail upside?
Reply
GoldCartel ysl2019
@ysl2019, The market is waiting for the US data and FOMC. Please don't trade it blindly; because this analysis is only based on the daily time-frame price action.

Reply
Looks great ... thanks for sharing.
Reply
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