ridethepig

ridethepig | Gold Market Commentary 19.01.2021

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
πŸ“Œ ridethepig | Gold Market Commentary 19. 01 .2021

A basing formation with Gold , which does not require to create a 'double bottom' pattern, is undergoing a direction change. It advanced as far as our $1,960 target and has found cramps. Finally, there is the opportunity for a breakthrough.

As an example of this, let us turn to the well know diagram 'Gold finding a bottom':


The defence was carried out: the sharp speculators do not want to lose $1,800/$1,803 and they are once again fighting for their stand. So, lets follow the flows again here as it seems to be indicated and clear for all to play.


This excellent move higher can also be played in Silver , the lows are clearly holding with more ease and this ideal will turn into the said reality. Yellen hearing today corresponds to the start of these moves, and as @MEGALO1 points out the rally towards fresh highs seems indicated.

Here I would like to point out that initial targets of $1,960, $2,015 and $2,075 are in the strategic plan while a breach below the lows will invalidate the setup; you can see why in the previous charts we managed to form a solid base and spot a subtle resource .

Thanks as usual for keeping the feedback coming πŸ‘ or πŸ‘Ž
Comment:
Comment: and we are breaking!
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Comments

analysis gold before this is not come true and go down like crazy..
hope its come true this time 😊
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ridethepig hensemselalu
Sure @hensemselalu, a healthy pullback after we cleared the first target
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hensemselalu ridethepig
@ridethepig, your future analysis is good,
where stop loss or invalidation point can we take ?
Reply
thats what i got nice
Reply
Gold target 6k+ in next 3 years. Imo we going for a ride.
Reply
White (III) cannot be the shortest wave
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