GoldCartel

MONEY MONEY MONEY MORE - FOLLOW UP CHART

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Feel free to check my XAU/USD history analysis and updates by clicking the small arrow in the chart.

I sent these charts to my clients, it was a great trading week, so far so good!! Currently, I reckon it has to fall to the "bottom" before continuing the rally.

PS: As long as it stays above the pennant , Bull is in control

Chart May 18, 2020

Chart May 20, 2020

Chart the current market price
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

Comments

Thank's for the analysis. I also think gold will go up at least to 1760!
Good luck!
+2 Reply
GoldCartel Lucian_Mar_Star
Reply
i wish i knew how to trade gold! so much liquidity in gold! for me it just does its own thing it seems like, and silver is even worse! I want to be able to say that too one day "i am a full time trader and i trade trade to pay my bills" I will be able to say that one day but i wish that day was today LOL

Here is what i see on XAU/ USD there is a real real good Deep Crab Pattern that lines up perfectly with a Quarter Theory point of 1800.XX will be very interesting to see how PA reacts to the level.

+2 Reply
GoldCartel ARegularGuy
@ARegularGuy, Gold is very interesting indeed, it "always" moves at least $5 to $10 per day and always false break out. Nice analysis, thank you for sharing. currently, here's what I see, there's an incomplete channel and I'm waiting for a breakout or a retest to the bottom channel or a retest to the broken bullish pennant.

Reply
ARegularGuy GoldCartel
@GoldCartel, of course! i dont trade gold becasue I'm too scared and too broke LOL, but i do admire those who can trade it successfuly. i mean it sort of follows the harmonic structures then it does its own thing!
+1 Reply
jcccheung21 GoldCartel
@GoldCartel, I saw this ascending channel forming last week. The price action on Friday wasn't very helpful to the bullish story of gold going to the $1,790 range as it wasn't able to breakout of the $1,737 resistance level. How do you think that will play out in the larger context of an ascending channel?
+1 Reply
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