the 1.68 fib level gave me a reason that the bull run for xauusd has ended since it was also extremely overbought
XAUUSD Analysis 5/10/20 XAUUSD is showing strong bullish momentum. As shown by the horizontal blue line, it has broke a peak on the volume profile in the price range where 70% of the volume has occurred. Furthermore, the MACD < 0 given us another confirmation that price will head down. My bias is short all the way here. Hope you all enjoyed the analysis and do...
Highlighted are resistance and support levels i think gold MIGHT drop to. Pick your poison DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Confirmation of either re-entry into previous daily bullish TL or rejection
Forecast: As can be seen from the chart, we can notice a fake breakout attempt above 1523 level. Other than that, the market moves inside of the Parallel Channel. Short-term bearish movement expected. Trade plan: 1. Wait for the 1h candle close below the previous candle or inside the Parallel Channel. 2. Wait for the bearish confirmation candle. 3....
GOLD SELL MOVES ARE COMING PURPLE LINE ITS MY GUESS TNX
The finest industrial metal of the world refusing to give up its value on the daily chart. With the growing demands of material goods, made out of industries in this digital saga: It is used for jewellery and silver tableware, where appearance is important. Silver is used to make mirrors, as it is the best reflector of visible light known, although it does...
in our prdc gold cant break this line so it will go down
Previous analysis we caught the low of this big correction. So far looking almost perfect. We bounced up very nicely from the bottom and we are up 15/20 points already. The double bottom neckline has just been broken as well. Still below that resistance line, but it should break this week. From now on i want to see it stay above the 1281/3. A drop below that level...
Usually, for an H&S, you don't want to see the right shoulder get below the low of the left shoulder. The right shoulder is getting a bit big now, but it's low time frame so it can still happen. This is how i sometimes find my setups, seeing a pattern in the making, then zooming in to find some confirmation for it and that i strike when i get enough confirmation...
Silver formed another smaller wedge inside of the big on one the left. So it is still moving inside the long term plan. Previous analysis a suggested another drop would happen, which it did. It bounced up and down a few times, but eventually took another drop. Was difficult to judge what it would do on that low time frame. That's why having a plan is important but...