1/ We have blue lines of downtrend
2/ The Pink Line of support was...
3/ ...broken down in the very bearish style: SB+ND+SB. It was effort of bears to push price down. Chart tells that sellers have control over 1488 level.
4/ I plot green line of resistance on this level. Now read the signs from chart when price approached green resistance line:
previous forecast worked out.
a rebound from the POC up (if it does not go down during the course of the day, this will be a confirmation)
global trend down
local trend up (there are 2 highs, 2 loys)
you can put a buy stop at 1466.0-1466.2 and wait for 1475
GOLD - graphical analysis and predict
Trend down. Until the trend line is broken.
Fixation below the mirror level. Now a test of this level.
Resistance zone + POC consolidation. Not reached. Bearish divergence begins to form. We are waiting, watching.
Double bottom (setup up). The entry point to the purchase has already been missed (after crossing the yellow line...
Gold futures GD sell opportunities from monthly supply imbalance located at $1310.The exact same look for XAUUSD spot market and XAUUSD CFD. There is a very strong monthly supply level that was created after a very strong drop in price last April 2018, almost one year later price has returned to it.
The supply and demand technical analysis and basic core rules do...