Still think we visit above 1800 to 1900, this last drops was mainly bear trap now to get liquidity from sellers and catch holding sells at wave number 4
DXY chart also very over extended in need of a retracement which will make gold fly.
I only will look for sells above 1800
Corrective Pattern at weekly timeframe, follow my DXY analysis for Long term and you will understand my call on gold, keep in mind this is long term target! Take it as a investment trade, go low lot sizes and hold
This target comes from all speculation Long on gold ( 80%+ ) corrective pattern also convinced everyone (who wasn't convinced yet for a perma bull...
XAUUSD (gold) is approaching a must-hold area for bulls.
I mentioned it in yesterday’s video, but $1,680 is a confluence of support.
It’s the intersection of a key horizontal level, descending channel support, and the 61.8% Fibonacci of the 2020 to 2021 range.
Here’s how all of that looks on the chart:
If XAUUSD has any chance of turning this multi-month...
XAUUSD Growth from the level of
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hello traders, i post this buy limit idea becouse we have see in the past the gold testing the 1765 area and failing to pass it after that there is folowing an bull run to 1800 area.
Thats what i see share yout thought below.
So this trade is based on a monthly timeframe, and the fact the institutional trades are still holding huge amounts of long positions on Gold.
We can see that price has already bounced off from these levels before (monthly support), and retail trades are already lined up with lots of short positions from here.
Therefore this should be a great entry area to go...
Gold changed trend since it topped in August, every weekly candle upside we have makes a lower top than previous ones, this is perfect example of change of a trend, meanwhile every upside move is rejected with bigger downside
DXY also still making a lower high since 2018, we will have a last upside move from dxy before it truly dies, target 110-120 , which will...
XAUUSD Long Idea
Global Uptrend due to Stimulus Deal
Local Correction from Low
You will learn the best place where we can trade this instrument at low risk.
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P.S. I personally will open entry if the price will show it according to our...