Gold is retesting resistance/mirror pattern right now so we could easily start to see a reversal. If price starts to create a topping pattern here over the next couple of days then we could potentially drop quite far since there is a lot of room to drop.
Several sell pressure candles appeared in the last couple of weeks, showing that investors are looking for other assets.
21st September weekly candle broke the August 2011 support level with increased volume. The high of the weekly candle is $1963 as it is a very strong resistance, based on the traded volume. In case of rejections of that price, most likely will...
Hello traders,
After having a period in equilibrium, The Gold Future is taking an increasing trend.
GC could break that zone of equilibrium above it, and therefore it takes that upward trend. But as I said in my long term analysis of GC we need an important volume that could push the GC price over that maximum price of 18/05/2020, we should wait for those...
With an increasing trend since 18 June, now we have signs of a decreasing one. With the high level of volume, GC will go down. This prediction is for an intraday trading.
It seems that each GC is trying to break the previous zone of GC it goes back to it.
If we take a look at GC in daily, we will find that the volumes are stable since April, so to go out of this...
Weekly chart
Gold can up a little 1514 and will form sideway down to accumarate force to next cycle.
2 Hours chart
If trade safety , will gold break down red trendline and Sell.
Target detail on charts
stoploss may last high + 50 pips
IMO
Gold must drop for make new cycle.
Risk:
Yes counter trend is so risk.
you must prepare money to support drawndown but i...
Very nice confluence with the 1.27 ext measured from C to B leg lining up with 0.786 retracement of X to A. We have good structure resistance dating back to early May '13. Let's see if this pattern can reverse price.
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