wurucututu

[Gold] Are you looking for a discount?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
50-day MA breakout just happened. Good support and possible good target for long represented by the green circle area.

Technicals for support theory
  • The 200-day MA and fib. retracement levels: 0.5 - 0.618
  • Area with high volume (VP)
  • Still way to go to RSI 30 (like in March)

This is a follow-up of the following idea (published on Sept 7th)


This is my own research and not intended as financial advice.
Comment: New low has been printed compared with the low of 2 days ago which broke the 50-day MA.

Comments

Definitely could, that volume profile is showing hardly any volume from 1935 to 1713. Something to keep an eye out for.
+1 Reply
Everyone says price, I say volume. Session volume speaks... volumes.
+1 Reply
Marvelous
+1 Reply
wurucututu LeonardoCasper
@LeonardoCasper, thanks!
Reply
Thanks for the insight! What are your settings for the RSI? I can't quite replicate it....
Reply
Incredible insight here .....for the novice that I am could you explain how analyzing this pair differs from a continuous futures contract /GC! and or an individual monthly contract /GCZ2020 ?
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Excellent work, we have same vision here! Upvoted
Reply
Yaa you are right
Reply
Very good, would like to see gold below 1800 if possible again!
Reply
@porzuh, remember it can always go either way and a few months from now you may be wishing for it to be below 2k :)
Reply
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