I think XAU Gold Spot had a regional Double Bottom confirming the support at $1675.
Now it bounced, but received a sell signal on the daily from one of the indicators.
The trend is still bullish as long as we don`t see a double sell over a red vertical area.
My next target is the $1826 resistance.
If you are interested to test some amazing BUY and SELL...
Gold has been on a decline path within 6 months or so, now by getting support of Ichimuko and gathering strength from the previous bearish leg and also getting provided by enough support from lower boundary of the channel, IS READY to make a move and find its way up. So keep an eye on it and hope we'll see its drought come to an end.
Trade Safe ...
The Gold spot started the bearish Elliott wave on the daily timeframe. Right now, it's making the 5th wave. It has to cross 1824 - 1800 - 1776 to complete the fifth wave. The fifth wave will complete around 1690 .
If there will be the upside breakout of wave 4 , then it's a failure of the Elliott wave pattern. And the target for the uptrend will be as...
Gold is favorite tool for Hedge Fund managers and other big players, They discussing now if Stocks on peak and can get correction so they will join Gold to defend their portfolios.
Gold range 2200 for upcoming weeks and months.
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Analysis of #XAUUSD GOLD
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Strategy: Bearish BAT With potential Max R/R 2.09 - We will be...
The Gold spot has started to fall from the 6th of August 2020 and still falling. But it's moving downside with fluctuation in trend. It started to rise for a short period from the 30th of November 2020. And now, the trend will fall up to hurdle by crossing 1876 - 1872 . After the breakout of the hurdle( 1872 ), the trend will hit 1866 - 1860 .
But if the trend...
There has been 2 previous swings in Gold from the 50 weekly ma (Orange line), This looks like the 3 Swing IMO
According to the previous data this swing should be shorter in time than the previous 2 and may last between 60 to 85 days
Target area should be around +35% to +50% = $2400/$2700.
The trend is up and the fundaments haven't change at all. money printing...
Here, I have used Gann Fan & Fibonacci Retracement to identify the next move of Gold Spot. Wherein, it is taking reversal from the 0.5 retracement value (highlighted by green square ). And now it's running under 3/1 & 4/1 Gann Fan value.
According to this chart, gold will keep drilling upward up to $1940 . After that, it can fall for 0.382 value of...
Gold Spot (XAUUSD) is now testing the ~$1850 support level... This level is likely to fail.
Our focus goes to cryptocurrency, Bitcoin but mainly Altcoins...
We are seeing Gold, BTC, and the SPX moving in many similar ways.
Here XAUUSD is testing a support level that is likely to break.
On this correction/drop, we are likely to see $1690 as the final support...