themarketzone

1100 is potential buy zone for gold

FX:XAUUSD   Gold/U.S. Dollar
a year ago
In my previous analysis, I mentioned 2 sell zones in $XAUUSD that, back then, was rallying towards them.
$XAUUSD couldn't overcome the 1150$ level and declined back towards its uptrend line creating possible bullish opportunity.
1100$ is the key support zone here (1100-1110$).
1. It is s structure zone (now support)
2. Price will meet the uptrend line
3. In case that it'll spike lower, there's a Gartley pattern completion near 1090$

Why I mention the spike scenario for point 3? Cause if the price will complete the pattern, it'll be below the trend line, potentially providing a bearish signal. Only a spike and a close back up above 1100$ will be considered (by me) as possible bullish signal.

Potential targets - 1150, 1170-1180 and 1200 (completion of bearish Gartley )

Check out my latest Youtube video that includes this analysis: https://youtu.be/g-5YBYX4kLg
Visit my blog: http://goo.gl/78KZsl
Subscribe to the newsletters: http://goo.gl/psNTqg
a year ago
Comment: 40$ rally from the uptrend line suggests that we may reach 1170-1180 soon
a year ago
Comment: Gold reached first sell zone.
Weekly Newsletter - https://goo.gl/yzkFY6

Tomer J,
The Market Zone - You trading Edge
Visit my website - http://www.themarketzone.net/
Blog - http://www.themarketzone.net/?page_id=2371
Youtube - https://www.youtube.com/c/TheMarketZoneNet
Ideas Scripts Chart
United States
United Kingdom
India
España
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 Billing Sign Out