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
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.
GoldCartel
⋅
@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.
ARegularGuy
⋅
@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!
jcccheung21
⋅
@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?
Good luck!