Fibronacci
Long

Gold - A bullish set up!

FX:XAUUSD   Gold / U.S. Dollar
429 5 18
Important: :-)
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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading. My Analysis should not serve as any recommendation to buy or to sell. My analysis are just my ideas and opinion how market could develop.
I am not a professional trader and I am not living from trading. Profitability is yet not given with my Trade set up and I am still learning. Goal of publishing my ideas is to document it in my trading logbook. Also crazy ideas for stress tests may be posted. Keep this in mind before simply copy trading ideas which you find at trading view (I noticed a lot of people are doing it here).
Why would you assume the uptrend is stronger than the current downtrend channel? What is your fundamental analysis to support this? I would think it would continue to bounce up and down and trade in the current downtrend channel.
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Fibronacci WhiskeyDeltaBravo
hi there.. this is a technical analysis and not a fundamental analysis. If you want to have fundamentals then start reading the newspaper... :-)
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I do read the newspapers and am quite versed in the news and economics. Even if you are providing a technical analysis, you are doing so with a framework of some fundamental view, right? Rather than have that view be purely implicit in your chart, it would be more helpful for your readers/followers if you made your fundamental analysis explicit. Basically, what is your rationale for being long vs being short on gold right now? Other than the FOMC not raising rates, what is your sense about gold continuing to rise in the chart you have shared? The FOMC hasn't raised rates in years and gold has not gone to the moon. It will eventually come back down. Unless you think the US economy is tanking - in which case it would be more helpful if you share your broader economic outlook to justify this. Are you just basing your trade on technical analysis alone? Thanks!
+1 Reply
Looks like the market is currently moving against your technical analysis above. What are your thoughts about conducting only technical analysis vs also conducting technical analysis informed by fundamental analysis. My sense is that one can't only do technical analysis to make trading decisions. The markets are too manipulated to do so. They don't work purely on patterns and they don't work purely on supply and demand either. Thoughts?
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your importancies seem like iceberg across your ideas:)
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