VasilyPonomarev

GOLD (XAUUSD) Important Decision Ahead

Short
FX:XAUUSD   Gold Spot / U.S. Dollar

hey traders,

gold is stuck within an important decision zone.
the price is currently trading below a major falling trend line and key horizontal structure resistance .
at the same time, a minor rising trend line serves as the resort for buyers right now.

the range between them becomes shorter and shorter.
we need to wait for a daily violation of that zone to clarify the future direction of the market.

I remain bearish biased because of the current local bearish trend on a daily t.f + lower high formation.
however, everything can happen so I prefer to wait.

Comments

Do you agree with my technical analysis?
+2 Reply
MarfilCapital VasilyPonomarev
@VasilyPonomarev, Yes, I'm agree
Reply
thanks for sharing! this is what I see on XAUUSD :
+1 Reply
Well done! Very clean analysis!
Reply
I think you made a valid point here, i was thinking the same because rightnow the price is at the strongest major monthly chart Resistance point (sept 2011), from this point it can go long way up or long way down. either way its a win win as long you put pending order and sit back...lol
Reply
I LOVE THE CONFLUENCE.. IM LOOKING FOR SHORTS AS WELL.. THIS IS WHAT IM LOOKING TO CATCH MONDAY IF AN OPPORTUNITY PRESENTS ITSELF
Reply
Good job
Reply
Agree with you. expecting a big move soon and noteworthy compression.
bulls are under pressure for sure.
Reply
VasilyPonomarev ProjectSyndicate
@ProjectSyndicate, thank you for support brother :)
Reply
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