If history & patterns prevail then we could see gold drop to 1500 by the end of 2021, which would be quite the spectacle considering since early 2018 gold has had year by year growth from the 1300s (2018), 1500s (2019), 2000s (2020) but 2021 seems to be breaking this pattern with an average of 1800 but we are currently sitting on 1760 a long way from creating a...
Gold has shown no clear direction on which sentiment it falls under for the medium-long term. In this instance we have 2 possible outcomes from the setups shown above. Share your thoughts and Like and Follow. For more info check out our bio on homepage.
Gold sustains in the best support per Shiff Pitchfork analysis. Fib also confirms that. 1,760 confirms the trend change.
1,805 again routs the bullish pressure per trend lines.
Disclaimer: I just shares my view. Please trade with your own and comfortable analysis.
In the previous post Gold did not show much reaction this week to the H4 resistance rather we saw alot of consolidation. Expecting Gold to possibly breakout of the major downward channel with the 5 wave correction being a signal to next impulse leg up.
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Lets get to 500 followers.
We could expect Gold to continue its bullish impulse to complete wave (5) v of (iii) around $1888/ounce or $1918/ounce.
As can clearly be seen, Gold is still very bullish and has visible channels.
Good luck trading.
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I think that XAU is not able to cross kumo cloud and I expect bullish month and weeks for the future of gold, but we will probably have little bump here on daily chart of gold after touching rsi and fibo supports. chart is clearly showing the targets.
Gold very recently dipped in to a pool of liquidity (last significant low before a large move up) that led to the parabolic rally that printed new highs.
As soon as the violation happened we saw rally that violated the bearish market structure on the daily timeframe giving very bullish signals.
This correction might not be over but there is an opportunity to...