DLavrov
Short

Gold Double Top

FX:XAUUSD   Gold Spot / U.S. Dollar
The price moved back to 1350.00 resistance level and bounced again. We can spot a double top chart pattern which gives us a trend reversal signal. This pattern will be confirmed if the price drops below the signal level. Now we have a reversal candlestick pattern at the resistance. RSI confirms price reversal. We have a new sell opportunity. Pending orders for sell can be placed at 1344.00 level with stop orders at 1365.00 level. Profit target can be at 1300.00 support level . If the price breaks this support and SMA100, it will be possible to open new short trades with profit target at 1250.00 level.
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Hi Dlavrov,

What's the Signal level at 1305 mean in your chart?

thanks!
+1 Reply
thanx Dlavrov
+1 Reply
I love this idea Dlav! Let’s do it!!!! Cheers!
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Could you please make analysis for silver as well.
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i see gold keep going down because bitcoin is the new gold and it has strictly limited supply whereas gold has not.
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Nice Idea! Will join it and when it reverses its time to buy, because I expect 1400$ for summertime and more in autumn.
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DLavrov Grandmaster_Nitemare
@Grandmaster_Nitemare, any fundamental reasons for this?
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@DLavrov, Bitcoin millionaires will want to diversify into something other than fiat and Lambos.
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@DLavrov, Moneyprinting will go on and nearly every asset will rise till something like 2008 will happen. And SleeperWoof is also right. I will buy gold with some of the cryptogainz and only rent the Lambo for some weeks to have fun! ;-)
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