Pattern: 0.618 Fibonacci retracement on 4H.
Signal: Bearish as the pattern appears to be repeating the similar January retracement sequence.
Target: 1600 (expected contact with the 4H MA200).
Previous Sell Signal:
Pattern: Parabolic rise on 1D.
Signal: Bearish as the RSI is printing a top signal similar to the August 2019 sequence.
Target: 1600 (0.382 Fibonacci retracement).
Previous Buy Signal on Gold:
Pattern: 1D Channel Up. Repetition of the June - August 2019 fractal.
Signal: Bullish once the pattern breaks to the upside.
Target: 1,700 (using the +11% rise from the recent bottom).
Latest signals:
Pattern: Channel Up on 4H.
Signal: Bullish as the price rebounded on the Higher Low trend line of the pattern while also finding Support on the 4H MA200.
Target: 1593.50 (right below the Resistance level).
Recent signals on Gold:
Pattern: Channel Down on 4H.
Signal: Bullish if the Lower High trend line of the pattern breaks as the RSI is already on a bullish divergence similar to November.
Target: 1585 (symmetrical Resistance).
Pattern: Parabolic rise on 1D.
Signal: Bullish as after the parabola broke down, the price reached the Support getting rejected on the 6-month RSI Resistance Zone.
Target: 1640.
Pattern: Channel Up on 1D (blue channel).
Signal: Bullish as the price is rebounding on the Higher Low.
Target: 1485 (Lower High of 1W Channel Down).
* Observe the 1D RSI, if it breaks above its Channel Down we may have a bullish break out of the 1W Channel Down. Basically is the Green Triangle breaks, it justifies a push towards the Resistance Zone.
Pattern: 1D Channel Down.
Signal: Bearish after the price was rejected on a nearly symmetrical Lower High on successive rejections.
Target: 1453 (former High).
Pattern: Emerging Channel Down on 1D.
Signal: Bearish after a Death Cross has been formed on 4H.
Target: 1485 (1D Support) and 1465 (Channel Down Lower Low) in extension.
I see an up move to gold . however it reaches to an important area whivh i think will go up .. however i see 1480.206 is the last station for gold i recommend buying gold with tight stop loss would be at 1480.00 ..
