Gold seems to be playing 🪀yo-yo🪀, and this time it is its turn to go down. Gold is running near the resistance line and 🔴resistance zone($ 2015- $ 2012)🔴. If we look at Gold from the theory of Elliott waves , we can understand that Gold finished the last Zigzag wave (C) near the 🔴resistance zone($ 2015- $ 2012)🔴. I expect gold to at least fall to the 🟢support...
As I expected in the previous post, Gold executed the Expanding Ending Diagonal pattern well and managed to break the lower line of this pattern and the uptrend line. Gold has now completed a pullback to lines with wave 4. I expect wave 5 to end at the 🟢support zone($ 1990.6- $ 1961.7)🟢 or support line. Gold Analyze ( XAUUSD ), 30-minute Time frame ⏰. Do not...
Gold was able to make expanding ending diagonal. When the 🟢support zone($ 2034.12-$ 2029.68)🟢 is broken by Gold, we can confirm the pattern and wait for Gold to fall to the 🟢next support zone($ 2003.6-$ 1999.2) 🟢. Gold Analyze ( XAUUSD ), 30-minute Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please...
We've seen a 5 wave completion on Gold, marking the end of this current uptrend. This will now be followed by a 3 wave corrective structure (A,B,C). This correction should push Gold prices towards mid 1900's, where you could possibly look at new buy positions if market structure offers the opportunity. The next zones followed by that would be 1840 & 1760📉
As I expected in the previous post, Gold was able to complete wave 5 on 🟢support zone($ 1990.6- $ 1961.7)🟢.👇 Since Gold has reacted well to the support zone and the Regular Divergence(RD+) between the two consecutive valleys is well visible. So, I expect Gold to grow to the 🎯target🎯 I specified on the chart. Gold Analyze ( XAUUSD ), 30-minute Time frame...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After rejecting our 1800 support zone , Gold has been bullish making higher highs and higher lows. However, it is approaching the upper brown trendline that I consider an overbought area. Moreover, the 2075 is the current all-time-high. 🏹 So the highlighted purple circle...
Gold seems to be imprisoned in a 🚩Symmetrical Triangle🚩. To confirm the end of wave 4, gold needs to break the upper line of the symmetrical triangle. I tried to show you the end of wave 5(zones) on the chart: 🟡 First Target : $2042-$2026🎯 🟡 Second Target : $2068-$2057🎯 Gold Analyze ( XAUUSD ), 1-hour Time frame ⏰. Do not forget to put Stop loss for your...
CL_F (Crude Oil) favors higher in 5 wave Impulse Elliott Wave sequence as wave 1 before pullback starts. It placed (B) at $64.12 low on 3/20/2023. Above (B) low, it placed ((i)) at $71.67 high & ((ii)) at $66.82 low. ((ii)) was 0.618 Fibonacci retracement of ((i)). It favored ended ((iii)) at $81.81 high on 4/04/2023 high as extended ((iii)). Within ((iii)), it...
Technical Confluences 1. Silver is currently near last year's high 2. Near-term resistance at 25.31550 3. Near-term Support at 24.29100 4. High-up resistance at 28.13740 Idea We are looking for price to continue heading towards the near-term resistance at 25.31550. There might be some struggle to break through the resistance so we are expecting a possible...
Gold is back at the key level of 2000 the round number major resistance, which now aligns with the 38.20% fib retracement level. Anticipating further weakness in the DXY, this could see Gold climb higher, breaking above the resistance level, and continuing with the overall uptrend. A break of the resistance could see the price climb to retest the previous high of 2031.60
The S&P500 index is moving near the resistance line and 🔴resistance zone($ 4,200- $ 4,100)🔴. The S&P500 index also seems to be forming the right shoulder of the Head and Shoulders pattern in the 🟡Time Reversal Zone(TRZ)🟡. I expect the S&P500 index to drop to the 🟢support zone($ 3,590-$ 3,490)🟢 after breaking the neckline. S&P500 Index (SPXUSD) Analyze Daily...
Natural gas has crashed when comparing it to the DBC commodity ETF. If a recession takes hold, demand destruction always prevails and it looks like Nat gas is pricing this in. This price action could be a leading indicator that many other commodities may be vulnerable to a pullback. Since Natural Gas is one of the smaller components of this ETF, it can see a...
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 :...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. Here is a detailed update top-down analysis for XAUUSD. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Silver (XAGUSD) broke above the previous peak on 2.2.2023 high ($24.62). As a result, it now shows a bullish sequence from 9.1.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension from 9.1.2022 low targets 26.91 – 31.23. Near term, cycle from 3.10.2023 low is in progress as a 5-waves nesting impulse Elliott Wave structure. Up from 3.10.2023 low,...
Hello traders, in today's trading session my team and I are monitoring XAUUSD for a tradable opportunity, once we get a tradable setup then we set a pending order. Pip Regards, DayBot6. What do you think of this idea?
Gold traded with choppy price action on Friday as it reach the 1985 price level but failed to sustain a continual move to the upside. With the price breaking the short term bullish trendline, and currently trading at the 1952 level, Gold could continue trading lower to retest the near term support level of 1936, especially if the DXY continues to regain in...
Fundamental Backdrop 1. Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day 2. This can cause a bullish run in prices in the long run. Technical Confluences 1. Price near 81.7 resistance 2. Price shot through the support at 72.50 with strong bullish momentum, causing a market gap Idea...