vikinsa

#Gold #XAUUSD Top Down Analysis & Trading Plan

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Traders, gold has hit all time high. This is still bullish but we now have weakness and over extension coming in. We can expect a retracement but so far there are no actual confirmations for the same. We do have 2 bearish fibonacci confluence patterns completing right now but lets see what market hold for us in this multi timeframe analysis of gold .

Comments

bullish my idea
+1 Reply
vikinsa Wolf_of_Trading
@Wolf_of_Trading, Thanks for sharing. Good luck!
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Gold still points up

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vikinsa ABDOLLAR_FX
@ABDOLLAR_FX, yes that's what I have covered in my analysis too.
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@vikinsa, You are welcome
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On I think your four hour chart, there seemed to be some short term support in the 1950 range. What do you think.
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ABDOLLAR_FX Nmanjeee
@Nmanjeee, very possible for gold to continue rising from there bro.

Nice outlook
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Nmanjeee ABDOLLAR_FX
@ABDOLLAR_FX, i also agree with your short term weekly. i see 2040ish. going to probably dump around there and buy more on the pull back. you think it could drop below 2000 once it hits 2040?
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ABDOLLAR_FX Nmanjeee
@Nmanjeee, nice view bro, based on Elliot wave the correction can go lower than 2000 but it should not break below around 1980 before bulls take over the buy again.
+1 Reply
vikinsa ABDOLLAR_FX
@ABDOLLAR_FX, Thanks yes that's why I covered both bullish and bearish scenario :)
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