Gold has been incredible volatile in the past few months. The spike down in early august may have definitely blown some accounts. Price quickly came back up to carry on with its normal technical price action. We are now within a falling wedge leading to the impulse generation point of late March 2021.
Looking for breaks of structures and bear flags to take Gold...
Shukran, just meet as per target and still looking for the next move for gold! There is no right or wrong on other analysis, just learn and practice from basic before apply an advance techniques on your trading.
Welcome to another update from our side.
Here we break down one of the pairs that we are going to have on our watchlist this week. (or actually for tommorow)
Expectation is that the market will retest the strong area of support that it just broke up.
Due to the fact that in general the GBP is getting stronger and the NZD is getting weaker we...
There is a Flat top (or anything you call it!) in XAUUSD 4h timeframe and it's breakout successfully,
So 1860-1855 is a good area for Long position but maybe doesn't see that numbers again and goes up straightly.
First possibility if wave 5 maximum 1860-1861, will descend to 1793 to increase the height, targeting 1865. Second possibility, if 1865-1870 is reached, will drop to the area 1745-1776 with a target 1891 and a second target 1950.
Found broadening wedges pattern in TF-h4. However, I'm not sure if it is descending broadening wedges. Firstly, I thought it was a flag pattern, but the chart got wider and already broke the resistance line.
I'm not telling this if it is gonna bullish or bearish because this can be a false break if it continues falling or bearish if he follows my prediction draw lines.
A potential move for gold using Fibonacci retracement. I expect it to pass the 1725 resistance below and retrace to the 0.236 level before continuing to push up to the resistance levels above.
TP1 = 1735
TP2 = 1750
Please let me know your thoughts!
✔XAUUSD Is Bearish and pushing to the downside
✔Price should retrace but only to the Broken Supply zone
✔Support zone broken and then expecting to be retested for confirmation
✔RSI is in hard bears Position so expect short opportunities
2200 PIP Analysis
AUDUSD has presented us with a nice reversal pattern at the end of a bull run indicating that it is about to reverse.
If you haven't entered already, wait for the break of the neckline and a retest.
See links below for more in-depth charts and analysis.