bajajharsimran

GOLD(Monthly) Decision Time

FX:XAUUSD   Gold/U.S. Dollar
  • Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point.


  • Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold             ;)


  • Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big Global Risk event.


  • Big Supply zone at $1500 - $1600 which is also a important Fib level.


  • Best Demand Zone from a Decade perspective is lying at $980 - $890 which again is a important fib level.



  • Medium Term Traders Look to Buy around $1200 levels and look for break of the falling trend line.


  • Long Term Investors should Buy around the marked Demand Zone as it will offer them best risk to reward ratio.


I hope i have not disappointed anyone neither Bulls Nor Bears :) I have something for everyone ;)

Take Care

CoreyM
4 months ago
The decision time trend line you mention, I have it on my chart at 1357.7 as of today.. I connected the 2011 high and the 2013 high.. and we closed above it on the monthly by .20. So hopefully, so far its good for the bulls!
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bajajharsimran CoreyM
4 months ago
Sounds Good buddy :)
Cheers!!
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pmcllc PRO
4 months ago
good decision point
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bajajharsimran
4 months ago
Gold going above 1380 and close above 1400 will be very dollar bearish this happens if we get a weak number on NFP expectation is 180K so weak would be around 100-120K i guess
snapshot
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bajajharsimran
2 months ago
snapshot


That Monthly Candle Does not look pretty at all guys be careful.
My bias is still Long Above $1375.
Cheers :)
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