First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up.
XXX/USD: Very Bearish
Gold & Silver:...
Preferred direction: Neutral
Comment: The previous trading idea within the near retest of the level 1.09623 gave its profit. The buyer's mood was so strong that the instrument overcame the important daily resistance 1.11861. It is assumed that this is not for long, the currency pair needs a correction. Correction will also be against the background of fixing...
Daily Chart
Gold ( OANDA:XAUUSD ) has bounced EMA200 and Support Level at $1893 and it's trading around $1925.565 now
Chart 4H TF
Gold just has completed a right shoulder and all we need is a breakout and closed above neckline
Wait and see next move
Silver is moving very similar to Gold & we can also see it trading within a very complex structure. Possibly creating a flat corrective structure, meaning volume will be very thin with slow market conditions.
⭕️5 Wave Impulse Move Complete.
⭕️3 Wave Correction (A,B,C) Yet Pending.
⭕️Selling Momentum Lost.
Someone mentioned to me that Gold is an asset that never loses money. I took the effort to show previously that Gold can very well do a 20% drop over a slow bleed (months) before it travels back up months later too. I also warned that Gold appears not to be able to keep properly and well above 2000-2080. Since 2020 (the Gold Odyssey series started in 2019), there...
Price has broken a key overlap support level suggesting that price might make a bearish breakout towards the 22.16 level. The 221.16 level is a 61.8% major Fibonacci retracement and a 127.2% Fibonacci extension. If price were to drop to this level, watch out for a potential bounce from 22.16 for it to rise back up to 22.69.
Please be advised that the information...
XAUUSD D1
We are now starting to break support here on gold, 1940 was the previous area of daily support which held for a solid 64 daily bars. A retest of the underside of that broken zone could offer us short entries to $1900/oz.
That being said, the preferred setup here would be longs from $1900/oz, alerts set for both, and waiting patiently.
We were successful with this one. Since we had a simple zigzag ABC, which can be the entire correction on its own, or wave A in ABC flat or wave A in ABCDE triangle, not to mention combinations, optionality remains.
One can entertain shorts at this level. THIS IS NOT ADVICE.
Gold needs to go back on to your radar, not only has the market halted at the major resistance 2070/91 (2022 high, top of the 12-year up channel AND Fib extension) BUT it is threatening to chart a key monthly reversal.
Should we see a monthly CLOSE below last month's low of 1949 this will be a key month reversal. For a likely top, these happen when a market...
Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20%...
XAUUSD is trading inside a Channel Up pattern for the past 1 month and a half. The 1D technicals are neutral (RSI = 51.392, MACD = 15.400, ADX = 15.598) indicating that this is the most efficient long entry for the medium term. However the unique characteristic of this Channel Up is that all 1D candles have closed inside it to maintain the trend, despite making...
Hey traders,
Gold has broke out of the rising wedge 1955 is a possible target, the pair has been bullish for a while and a pullback seems inevitable. If you like my idea boost and comment your opinion.
Cheers!
De-dollarisation drive could push the gold upwards as the world will look for alternatives.
Above 2072 resistance level, there is a clear bullish view for gold.
Gold confirmed the end of wave 4 after breaking the upper line of the symmetric triangle.
The corrective structure of wave 4 is Double Three Correction(WXY).
Gold is completing microwave 3 of the main wave 5, and most likely the end of this wave is in the Price Reversal Zone (PRZ).
I tried to show you the end of wave 5(zones) on the chart:
🟡 Target :...
Gold/ XAUUSD is trading inside a Bullish Pennant pattern.
Technically those patterns break to the upside but it needs to be confirmed first if you want to buy it.
If you see a bullish break out and retest of the pennant's top, buy it and target 2080 (Fibonacci -0.382).
If you see a bearish break out and retest of the pennant's bottom, sell it and target 1900...
Not only is the market struggling to overcome 2000 (3 failures now), but we have a large #divergence on the weekly RSI, which depicts a loss of upside momentum.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or...
![XAUUSD: 🥇Gold🥇 Analyze [Road map!!!🗺️(04/05/2023)]](https://s3.tradingview.com/7/7XQ0SLod_mid.png "🥇Gold🥇 Analyze [Road map!!!🗺️(04/05/2023)]")
