Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold💪
Gold retested the monthly 0.382 fibonacci retracement level of the last major monthly impulse and is now in confluence with bullish moving averages heading for new all time highs.
The parallel channel on the weekly timeframe is still quite nicely pushing the price of Gold higher so I am waiting for any pullback to enter more buys on Gold.
With Gold retesting previous daily structure and rejecting towards the downside my last analysis perfeclty played out - I am now just waiting for a retest of the $1935 structure and then I do expect a bullish trend resumption from there.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
Great publication. You can see that you have worked through several timeframes, the older timeframes also support your arguments. Thank you for your work!