GOLD - XAU/USD OVERSOLD ALL THE REWARD IS UP! ($2000 LONG-TERM)
Technical Overview: - GOLD $2000 TARGET🎆
Check out our previous posted analysis about XAU/USD
![COMEX GOLD - NEAR OVERSOLD AREAS [$2000 LONG-TERM]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
PREVIOUS WEEK ^
Last week we anticipated that we will be seeing selling pressure kick in from the marked zone, more specifically after taking out the lows marked.
Following up, we have seen price start to push breaks as soon as we got into the buy zone. We also updated our Analysis on telegram
from a smaller time frame perspective and mentioned we will see another breach of lows and we saw that happen the next day. We do believe the best and cheapest prices are in the lows, and we do want to see price potentially taking out the lows created before seeing more buying come in. We have marked 2 major bug zones, the lower the price the safer you are putting yourself at risk. We are not here to predict price, we are just simply laying out the foundation so when price does go there we know how to react.
HTF - From a higher time frame (weekly, daily)
price is still in its bearish (www.tradingview.com/ideas/bearis...) drive to the downside
We are approaching oversold zones that has the potential to fuel us to the upside.
Using our overall target as $2000 we have this set in our mind to shape our outlook for the long run, not worrying about small moves.
We are in a pullback but we are also in a correction phase
Price moves in Impulse/Correction, understanding that from a HTF we just had the impulse we are caught in this bigger correction that we have are currently in and is being formed.
Smaller time frame -
Price is also bearish (www.tradingview.com/ideas/bearis...) but has not yet come to a stop, we may see a temporary bull run, but for us to get the best deals we need to let the market show us.
Fractal (www.tradingview.com/ideas/fracta...) market, the 5m makes the 15m and the 15m makes the 1h etc
Part of trading is finding the best R:R putting you on the safer side, selling into this already oversold action is one thing to stay away from if you are interested in the buyside. We could of easily sold at our selling zones labeled from previous analysis, but our long term target wouldn't be as rewarding as buying.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
Check out our previous posted analysis about XAU/USD
![COMEX GOLD - NEAR OVERSOLD AREAS [$2000 LONG-TERM]](https://s3.tradingview.com/e/eQ2VKl7J_big.png)
Last week we anticipated that we will be seeing selling pressure kick in from the marked zone, more specifically after taking out the lows marked.
Following up, we have seen price start to push breaks as soon as we got into the buy zone. We also updated our Analysis on telegram
from a smaller time frame perspective and mentioned we will see another breach of lows and we saw that happen the next day. We do believe the best and cheapest prices are in the lows, and we do want to see price potentially taking out the lows created before seeing more buying come in. We have marked 2 major bug zones, the lower the price the safer you are putting yourself at risk. We are not here to predict price, we are just simply laying out the foundation so when price does go there we know how to react.
HTF - From a higher time frame (weekly, daily)
price is still in its bearish (www.tradingview.com/ideas/bearis...) drive to the downside
We are approaching oversold zones that has the potential to fuel us to the upside.
Using our overall target as $2000 we have this set in our mind to shape our outlook for the long run, not worrying about small moves.
We are in a pullback but we are also in a correction phase
Price moves in Impulse/Correction, understanding that from a HTF we just had the impulse we are caught in this bigger correction that we have are currently in and is being formed.
Smaller time frame -
Price is also bearish (www.tradingview.com/ideas/bearis...) but has not yet come to a stop, we may see a temporary bull run, but for us to get the best deals we need to let the market show us.
Fractal (www.tradingview.com/ideas/fracta...) market, the 5m makes the 15m and the 15m makes the 1h etc
Part of trading is finding the best R:R putting you on the safer side, selling into this already oversold action is one thing to stay away from if you are interested in the buyside. We could of easily sold at our selling zones labeled from previous analysis, but our long term target wouldn't be as rewarding as buying.
Use our analysis as a sentiment
Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
