Forecast: Price could push higher first couple of days if the same trading behavior is applied compared to the first two weeks of 2021. Keep also eye on 10 Year Yield and $Dollar for sentiment clues...
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold price for the coming week. I'll also follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics
- Market sentiment
- Gold Shares, EFT's A-z
- $Dollar
- US10Year T-note
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some Market Data.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold price for the coming week. I'll also follow up with charts throughout the week as price action develops patterns and pivot reversals points.
Topics
- Market sentiment
- Gold Shares, EFT's A-z
- $Dollar
- US10Year T-note
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, RSI indicator and some Market Data.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.
Best Regards
OmarDjurhuus
Comment:
Update!
Did not add any updates Tuesday and Wednesday. I was a bit busy. But, I can say that price action has done precisely as I forecasted in the video.
I expected price action to drop a bit in Asia session and then reverse to the upside. I targeted some consolidation between $1837 - 1846 before price again would push higher towards $1873.
I said in the video, that price might develop a Flat Pattern - touch the $1873 level and then drop and it surely did. (BUT have in mind that 50 or 0.618% fib-levels are still valid. Break of, previous low @ $1811 low changes that)
Watch the video again too get a fully understanding of how I read price action.
Trade Safe... and have a pleasant weekend
Did not add any updates Tuesday and Wednesday. I was a bit busy. But, I can say that price action has done precisely as I forecasted in the video.
I expected price action to drop a bit in Asia session and then reverse to the upside. I targeted some consolidation between $1837 - 1846 before price again would push higher towards $1873.
I said in the video, that price might develop a Flat Pattern - touch the $1873 level and then drop and it surely did. (BUT have in mind that 50 or 0.618% fib-levels are still valid. Break of, previous low @ $1811 low changes that)
Watch the video again too get a fully understanding of how I read price action.
Trade Safe... and have a pleasant weekend
Asia session opened with selling pressure before turning bullish again throughout the night. London session showcased all the same pattern behavior and Us session continued where London session left off.
Price Action is hovering @ the Fibonacci price level I forecasted. I thing price will hit 0.618% @ $1846 before dropping to lower levels @ $1833, 29 and 25 ish...
But we'll see...
Trade safe!