chartwatchers
Long

GOLD-Daily summary

FX:XAUUSD   Gold/U.S. Dollar
243 1 16
I want post the daily chart because it's very very bullish .
- Today it's the 2nd day when we are bouncing off the pennant's upper trendline .
- We closed near to the daily maximum.
- We closed above th 10 EMA - so the 10 EMA is holding the price
- The last 20 EMA tag was 38 days before (!!!!) - 2months....

It means to me that gold             is breaking out of the consolidation tomorrow. The maximum pullback we will get is around 1265 (I was hoping a pullback to 1260 but that's a dream only) - this pullback will happen in the first 2 hours of trading GMT             0.00 and GMT             01:00. I want to add to my gold             positions so I will choose these hourly candles for adding.

How far can we go? Check my OIL             - De Ja Vu chart. It'S THE SAME PATTERN ...

In an extreme situation we can run 200$ more.... It depends on the dollar.
The minimum target is: 1307
The next one is 1345
After that: 1392
And the final target is around 1440...

I think we are going to rally till mid of next week.
Have a good trading and thank you for support.



iammathawee
a year ago
Thanks for your helpful advice. I'm waiting for opening my long position ^^
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out