follow the little black man to new gold highs
xauusd , gold spot / u.s. dollar
2023 ... will gold reach new highs?
the precious metal has been trading in a consolidation phase since second quarter of 2020, trading between 2 significant levels of average price of low @ 1687.000 and high @ 1933.000.
market momentum changed from bullish to bearish @ $1933 making a -7.15% loss in price to current price, i anticipate that this bearish run to continue lower to liquidity pool ranging from @ 1779.400 to 1766.700 and find some support on trendline acting as dynamic s/r level .
my overall bias for the year is bullish for the precious metal with the right catalyst and fuel (fundamental) and momentum price can reach new highs trading above current ath @ 2075.282 (as of OANDA price feed)
it is still early days of the year and a lot can happen as there are plenty opportunities around, lets keep a close eye on the market and be ready for such opportunities!
supply and demand
never say never, because limits, like fears, are often just an illusion.
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
2023 ... will gold reach new highs?
the precious metal has been trading in a consolidation phase since second quarter of 2020, trading between 2 significant levels of average price of low @ 1687.000 and high @ 1933.000.
market momentum changed from bullish to bearish @ $1933 making a -7.15% loss in price to current price, i anticipate that this bearish run to continue lower to liquidity pool ranging from @ 1779.400 to 1766.700 and find some support on trendline acting as dynamic s/r level .
my overall bias for the year is bullish for the precious metal with the right catalyst and fuel (fundamental) and momentum price can reach new highs trading above current ath @ 2075.282 (as of OANDA price feed)
it is still early days of the year and a lot can happen as there are plenty opportunities around, lets keep a close eye on the market and be ready for such opportunities!
supply and demand
never say never, because limits, like fears, are often just an illusion.
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
Trade active
Trade active:
yesterday candlestick closed bearish, momentum going in favor
Trade active:
bearish momentum still in control ending the week @ -0.62% in my favor
Comment:
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