Gold sell globally. It has updated its minimum and is in the process of giving a correction. I think there is an imbalance in the place I drew, and the Fibonacci line also fits here. From here we can look for confirmation to sell again..
Gold went too overbought on Friday.
The price finally dropped, forming multiple high momentum bullish candles.
The market broke a minor rising trend line and closed below that.
It looks to me that bears may push the price even lower on Monday.
Next support will be 1989
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The XAU/USD pair is consolidating near 2040.00, being under pressure from technical factors and waiting for the publication of US macroeconomic data. The day before, gold has shown a steady growth, reacting to the latest evidence of a decrease in inflationary pressures in the US. In March, the Producer Price Index decreased by 0.5% in monthly terms and slowed down...
It's always a good idea to sell an asset when reddit and youtube adverts start popping up telling you to buy.
Here we see gold, which is knocking back on the door of tis all time high.
We also see a divergence in RSI, a MACD divergence and, from my view, this is the distribution popint.
Unfortunately I didn't buy any, but on the first Red Heiken Ashi candle I'm shorting!
The nearest key levels for OANDA:XAUUSD is between 2031-2057
Either wait for a retest at the 2031 key level and take a buy to 2051 for 250 pips
OR Wait for the 2057 key level to get tapped and if price shows signs of rejections sell down to 2031 for 250 pips
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As you can see in the chart, we are getting ready for short trades.
Green areas are excellent for entering. If the blue trend line breaks, we will enter the trade.
The resistances are specified in the chart. Money management must be observed
We see potential bullish consolidation on Gold H4 timeframe. 2010 level was a strong resistance and now we see FakeBreakOut on this level. 1935 is support zone, 1917 is place to put buy limit order...
From now i will have one main idea, and all the ideas as we reach cycle targets for the year will be updated in the thread.
Fallow, like so you dont miss the updates.
I dont trade short term, keep in mind my ideas are longer term, and its boring.
We wait for the cycles to bottom and we wait once in the trade for the trade to mature.
I have set this position based on my analysis of the market and trading strategy. Therefore, it is recommended that investors conduct their own research and due diligence before making any investment decisions.
In the above Daily Chart, we've forecasted a marginal high of Gold(XAU) to around 2,060 and from this level we expect a correction ABC to around 1,800 where the smart buyers must appear with higher probabilities. In weekly(W) time frame, Gold(XAU) has a bullish structure .
Welcome . According to my analysis of the gold market, there is a high potential for an upside. With a break of the resistance at the 2000 level with a very positive candle. Kmalk broke the bullish flag. We are waiting for a test of the 2000 area, to return to the upside. Let's see again the 2030 region .Note: If you like this analysis, please give your...
Gold market is moving as i said and mentioned in previous analysis that Gold due to geotropical issues and American bank SVB fallout, is rising to make highs and it was also mentioned that it will happen before FOMC. By the way it happened. Scroll up and check out ideas. Dont forget to follow, Like and share your opinion in Comments section.
Now look at the chart,...
For all those fellow traders who want to sell gold, my suggestion for them is to short below 2008...
don't sell above 2008 otherwise consequences will not be in favor...
I believe that below 2008 first target will be 1999 and below that 1993 will be followed...
Welcome . According to my analysis of the gold market. There is a high potential for an upside. With a bullish flag break. It also broke a very strong resistance at the 2000 level, with a very positive green candle. Humiliation of the amount of buyers. We are waiting to see the level of 2080 in the coming days .Note: If you like this analysis, please give...
