Gold - Pull back within major downtrend. Hold counter longs.

FX:XAUUSD   Gold Spot / U.S. Dollar
337 4 4
As I wrote on Twitter yesterday, Gold             had an interim bottom, the counter Bullish wave and buy signal was confirmed on the 4H chart above 1100.

- Bearish trend , bearish Ichimoku setup
- Last week's and recent candles together give a Heikin Ashi signal of bearish consolidation and/or possible pull back

- Pull back within bearish Ichimoku setup. Clear initial Heikin Ashi signal from candles three amd             two days ago, which was confirmed on lower time frame yesterday.
- First supp/res is Kijun Sen at 1120, but technically it may reach 1135-1150 area as well. (I think it will depend a lot on the USD)

- Ichimoku setup is bullish
- Heikin Ashi is bullish
- trail protective stops with Kijun Sen and/or 100 WMA
nice analysis. what kind of pullback are you looking at in a week or so?
Sorry, but I an not give such a prognosis. I think it can exhaust a bit ard 1135-1140, but if it goes up there at all, or when it happens I have no clue. That's why I say trail up your protective stops, and try not to focus on any targets, but focus rather on the protection of your existing profit.
Kumowizard PRO Kumowizard
Also as you see 1135-1140 is a strong bearish support both on weekly (Tenkan Sen - Kijun Sen area) and on daily (Future Kumo top + 100 WMA is getting down there)
sami Kumowizard
Thanks. I was long but was out last night.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out