Currently, the outlook for gold is positive, with a bullish trend. However, I anticipate a temporary pullback from 2045.26 - 2047.73. This presents an opportunity for me to consider buying positions before gold potentially reaches an all-time high.
On the other hand, the US dollar has a bearish outlook, having broken and retested the channel.
Furthermore, silver...
Gold is currently at all times high on the charts that we have access to, so I do not know if price will continue higher. Looking for price to either continue bullish from where it is OR actually close inside the current D FVG and then continue bullish to take out the previous week high. However the FVG is fully mitigated, so we shall have to wait and see what the...
Gold takes a leap after us fundamentals comes out negative with a lil bit of positive change, confirming the continuation of a breakout structure after the re-test.
An anticipation of double top is kept and what comes after remain to be seen and tested
Looking for Gold to hit the 50% area of the D FVG that has been created and return back bullish. On the flip side, price could break that 50% zone to create an evening star. BUT since structure has not been broken I am still bullish and looking for the bullish bounce at the 50% area to continue bullish.
Soooooo apparently, I marked this up and didn't make any notation that I had done this. I missed the whole weekly buy up because of it. Make sure to not be so busy marking up that you forget to notate your good trade ideas that you need to come back to in order to catch the move. Aw darn it, I bet I won't forget to notate again that I made a trade idea.
Just noticed that I never posted this previously. So I am posting it now. Price has returned to the zone that I was looking to be able to buy from. This area is currently also the 50-61.8% FIB. So I am looking to buy gold next week depending on the direction at market open
XAUUSD had been on a bullish trajectory for a while on the weekly timescale. It is currently now in a retracement. Using Elliot's wave correction as a template, we can anticipate the nature of the pullbacks, and where we might profit.
My current target is discount at 1920 about 930pips.
If we break the recent low, I would be looking for a 1h demand zone...
After some sputtering from bearish to neutral to bearish, we now have a bullish signal on XAUUSD for the first time since 02 February.
Some retracement can be expected to perhaps the 1845 area before more upward movement.
Many got distracted when Gold was trading in a range the last few years.
A question for you to ponder over:
Will there be a situation where interest rates continue to rise and yet a lower Dollar? Why?
Let me hear thoughts, I would love to exchange ideas with you.
Included last two videos link below, I explained:
i) Gold is still an inflation hedge
ii) Gold...
Xauusd Buy Signal
Buy 1864 To 1862
Tp 1 1865
Tp 2 1870
Tp 3 1875
Stop lose minimum
Looking Gold Signal Is Very Powerful Bullish
Super Trend line breakout Up Side
A few key fundamental data
across the board next week to kick start Feburary
1) FOMC
- 25 bps
All risk assets moon , DXY continues its
bearish momentum
- 50bps ( very likely )
- Talks about extended rate hikes to continue its fight for inflation,
DXY to gain short term strength and risk assets to continue its decline
- 75bps
Definite crash
2) ADP / JOLTS / USD
XAUUSD - H4 - After a big sell off now we can expect a pullback on this pair as dollar eases off for now. Expect a rally upto 1740-50s before looking to take shorts again.
Possibility of a bounce up in Gold from this level if the support does not break
I will wait for another opportunity and I believe during the FOMC meeting, we might get a quick dip below
1800 in Gold.
Heyo!
My idea for gold, for now, if it breaks at AREA 1 (around 1860) we can target some levels like 1865/1870.
But if we see a push down to AREA 2 (around 1846) we can target some levels like 1840/1834.
I believe that gold can go higher!
So I am bullish right now, and you?
What you think it will be the movement of gold next few days?
* I will start...
On the weekly time frame, prices are testing a key support level at 1842, where we could see further upside. On the H2 time frame, prices broke above the descending trend line, suggesting a shift from a bearish to bullish order flow. A throwback to its support area at 1824.80, in line with the 78.6% Fibonacci retracement and 61.8% Fibonacci retracement presents an...
