Gold at 1527 i`m looking at towards providing the resistance level to the downtrend monument we are all expecting there should be a 4th channel low on this rate which is missed - thank you all so much.
UnknownUnicorn5176330
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At 1533 I can see that the Gold Rate is well overbought after 2 consecutive swing high phases and needs to trend lower into 905 and below this Level on the monthly chart cycle lows which relates at least 133% of the previous swing high phase from 1161 low and support level. If my assumption of the index is to remain in play other than this outcome the Gold Rate will have to be removed from my Portfolio.
UnknownUnicorn5176330
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All of it Gold - Current price 1436 expected outcome towards 1507 at the Reversal Trend Bar Level - that`s if Price will en-sure that Level.
UnknownUnicorn5176330
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@forexcandles, If Gold Rate stays under 1436 this should present some beautiful opportunities to go short and current high at 1451 should represent the Reversal Bar.
Yuriy_Bishko
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Well done!
UnknownUnicorn5176330
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i can see total drop at gold rate from 1450 high or allowing for 1507 maximum resistance level bar - 1087 is nearest forecast for this rate - back down where it started from.
Forexcandles.