XAUUSD GOLD although market has been very bearish recently breaking below the support of this longterm descending triangle, now market has clearly formed this massive double bottom on the daily timeframe rejecting the move down quite massively, im expecting to see soon a break back above resistance expecially with the very bearish USD and flip it once again...
Gold is looking very Nice!! POR POI area has been hit for me. Gold has been making lower lows and lower highs. The probability the monthly and Daily imb above @ $1770 - $1815 getting filled is highly likely. I will look for short term trade to this area. Remember this is the daily chart. This will happen over the next couple days or weeks. I think PA we could see...
hello friends as u can see our previous entry on gold from 1680 area and we are still holding those entries with revised @SL for long term Gold has closed on Friday above 1720 levels which had already achieved our TP1 on previous analysis now gold best buying entry levels are near 1700- 1710 this will be a safe buy for those who had missed entry from 1680 Friends...
I am currently seeing a butterfly pattern with the potential reversal zones as marked out on the chart. I await som confirmation to sell
The chart above shows two possible scenarios for GOLD, but both still point at a bullish outlook at the end, its either there is going to be another simple ABC correction downward to serve as the last wave for (y), or the market should continue growing in price to 2100 without any further correction.
According to the price retracement from the USD 1966 range, as well as the 3-wave structure of triangle sides, there is a scenario that wave b ends in the 1966 range with a triangular pattern, by crossing the price from the USD 1906 range, the downtrend for the target of USD 1,800 will be confirmed.