Gold's uptrend is intact and the pullbacks should be viewed as buying opportunities as I have mentioned previously in my ideas. Currently, the 1980 level is offering some resistance but a bullish breakout looks very likely.
If you look at the chart, you can see that price is creating Higher Lows(HLs) on the hourly every time it pulls back from the resistance...
Let's draw the scenario of correction with the opening of the monthly candle
If the region I marked in red is broken, the target will be 1881
If the correction is done in the region I marked with the green box, the target would be 2030
It is necessary to enter the process by looking at which box the correction will correspond to. The trend line separating the...
Gold looks like it will continue the bullish trajectory. But, for confirmation, wait for the resistance level to break.
But, if the support line breaks, then Gold price will drop to 1900 level.
I have denoted the two scenarios with appropriate arrows.
Get on this trade and it will feel better than S@x. I am looking for price to come down and retest the 1920 area as support before price bounces back up in a bullish fashion and break the recent all-time highs.
Once a support or resistance level has been broken we always look for the retest of this level before price moves in the direction of the break.
Gold 5 wave bullish trend has made a ending diagonal pattern in its 5th wave that have potential for $2000 price. Bulls will take their profit and seller will enter the market. Bears will target for 38.2% retracement of this rally on H4 Time frame.
How do i think the gold will go? I think it will try higher high, or until 2000,2008, then the next thing it has to do is break through the marked structure, when it breaks through or goes to the weekly retest which is 1909 area, or a deeper retest to 1817 area. In essence, it all depends on whether the dollar will rise or fall.
I see a special topping candlestick pattern evolving on the daily chart.
Yesterday we printed a hanging man and today we broke to new highs.
When the daily cycle is topping you can find very often the
hanging man - shooting star combo at the top.
Today's candle can easily turn out to be a shooting star.
The hanging man shows that the selling interest started to...
Gold is going up without breathing and now we will see whether it is going to return from the 0.618 fibo level, or the 1.414 fibo level.
If we see 3 candle openings above the area I marked with the yellow box, then our goal would be 1923 if the yellow box was not broken, this time the target would be 1860.
I will open sales at 0.618-0.786 fibo levels and close...