theoris

I try to figure out Gold price after this.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Last idea about the caution zone of this peroid.
I think Gold should rise to 1437 too around 90 pips
and Drop sharply to lower zone like charts ( Green line : buy zone )
Finally Gold will go to 1480 +

Let 's market tell ...
Comment: +40 pips now
Please make yr decision because Fed rate tonight.
I use scaling out and keep low position
and wait news to add more position again.
Comment: Gold up to 1434.5 and drop to lower zone
( miss 1437)
I think Gold will drop to lower and lower but not recommend to sell
should wait to got News
or prepare to buy back at green zone.

Comments

Hi Theoris,

I am new to trading but this pattern to me seems like an Ascending Triangle pattern. It will most likely break the current resistance level and continue to climb upwards.
+1 Reply
theoris evans123
@evans123, Yes It seem like as your tell
I only imagine which way can go like this idea

but I think retracement it is not finish well , it has many chance to swing around this zone
so I think it should up again (but not higher than 1453 ) and drop one more leg to prepare energy to back in Bullish trend.
+1 Reply
@theoris, adding to your analysis is that RSI indicators are in overbought territory. Without a pullback, the case for 1500 will be very thin or very prolonged.

Of course, much depends on FOMC meeting tomorrow.
+2 Reply
Fine short view, and strong SUPP.
Reply
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