price is in premium price. this means we should start looking for selling positions on lower timeframes. price is also approaching our zone confirming that selling opportunities are present. I will be looking for entry on the H1 timeframe.
i am no financial advisor and i can not be 100% certain that the following analysis will be respected. happy trading.
The algorithm has been sending multiple signals on GOLD.
First of all we have received an alert of trendline break, which as you can see worked nice.
On the other hand, the price broke the blue support but it was a bear trap, meaning this is more bullish than expected.
Finally, under the blue line a doble bottom has emerged which gives us a target price in the...
GOLD, Rally is continue and pushing HH so wait for Pullback around $1720/1700 area demand zone for Next Trade Rides.
If price close below $1700 we can see price head lower back into $1650 support area.
Pay attention to price action.
GOLD is bullish on the D1 time frame and at the moment pulling back, to trade with the trade, we have to wait for shift of the downtrend(pull back) to the uptrend and that's what we have now. There is a change of character on the 4h time frame indicating the end of the pull back and the beginning of the continuation of the bullish trend
Gold is sitting on a daily order block, recently price has been converging in a broadening wedge pattern, we got a break to the downside. We can expect price to drop to that Potential Demand Area marked on the chart
Yes as we can see Gold able to close huge candle without wicks thanks to DXY going low. 1800 will be our main target if DXY continuing to go down we will see 1900. But remember we are in bear market. There are 2 patterns telling me to go down even more.
1. Bullflag ( Bold black lines )
2. Double top at 2070, neck at 1690. ( Bold red lines )
So going up to 1900...
🪙 Gold under pressure from strong doalar. In today's analysis we will look at the chart of gold, which in the current week has shown that there is no strength for any increases.
🪙 After the rebound that took place 2 weeks ago, we could have hoped for an enlargement and extension of the upward correction.
🪙 But decisions to raise US interest rates again by...
gold has respected a upward trendline on D1 then breaks a continuation chart pattern on 4H, maybe that's the sign that it'll continue buying this following week, and on top of that, dollar index reached a major supply zone and major resistance on monthy time frame, hence if DXY continue respecting that supply zone so we will have a long bulling move on gold....
🔹Price continues to push with momentum. The uptrend is surely here.
🔹We had that solid break above 1730, but no pullback since then.
🔹We'll wait for this pullback, and then look out for buys to continues the trend. We'll have sit patiently and not force any trades until this sets up
XAUUSD (H4) - My View on Gold.
Hello Friends! Do you have any questions, suggestions, or feedback? Then write on a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation.
#gold daily: Although boring, I think a bull flag above weekly EMA30 would be great power build to reset RSI to push past this reverse cup and handle threshold.
The measured-move would move price above $2000, and that would again be another good spot for a consolidation.