Gold - This is the bullrun top!

Nov 26

⚰️Gold (XAUUSD) is slowly reversing now:

🔎Analysis summary:

Starting back in the end of 2015, Gold established another major bullish cycle. Ever since the rounding bottom breakout, Gold has been rallying higher and higher. But at this exact moment, Gold retests major resistance and is slowly starting to create a reversal.

📝Levels to watch:

$4,000

SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION

Dec 4

Trade active

⚰️Gold (XAUUSD) is creating a top:

🔎Analysis summary:

As we are speaking, Gold is clearly showing some first signs of weakness at major resistance. Especially after a parabolic rally óf about +130%, it is totally likely that we will see a correction soon. It really just takes time for metal no. 1 to initiate a major reversal.

📝Levels to watch:

$4,000

SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION

3 days ago

Trade closed: target reached

⚰️Gold (XAUUSD) creates the final retest:

🔎Analysis summary:

Don't get me wrong, Gold is still in an underlying bullrun. But after the parabolic rally recently, it is totally normal for Gold to create a correction. Since we did not see any bearish confirmation yet, Gold can still retest the resistance trendline once again first.

📝Levels to watch:

$4,500

SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION