Gold prices dropped close to $1240 levels yesterday before reversing; the metal trades around $1244/45 levels at this point in writing and should be looking to continue pushing higher towards $1270 levels going forward. Immediate price support is seen towards $1235 levels, along with the 0.382 fibonacci ratio, as highlighted here. It could be a safe strategy to ...
Using the dimensions of the pyramid, we arrive at the following results .
1- Gold is at the highest level for the next 4 years (1277)
2- At least 3 years in the future. Gold is down .
3- Gold falls to 61% Fibonacci level .
4. The best range for buying gold. 800 will be .
Good luck
https://superwhisper.blogspot.com/2018/05/the-great-pyramids-slope-angles-match.html
The 4H Channel Up broke sideways (ADX = 22.055, Highs/Lows = 0.0000, Ultimate Oscillator = 50.608) and if it keeps the current Lower High sequence (1,250/ 1,249.25) a Channel Down will emerge. Technically expect at least the 0.382 Fibonacci level to be tested at 1,235.40 with 0.618 = 1,226.10 the extension.
The 1D Channel Up has its technically Higher Low ...
It is probably the 4th wave of an impulse. There is an Important past supports and resistances level and it is also placed at the 38.2% Fib retracement and the 4th wave of lower degree. possibility for the price to reach to this level is high. after that price will rise to complete the impulse by making the 5th wave.
Not the best bearish Gartley I would be trading, just look at Pt C touches the closing price of Pt A, make it a retest of Support.
If the market did not have a series of lower-high.
I will have to see how the candle close and form up at Point D before engaging the trade.
Stops above X will be above of the lower-high trendline.
Exact Entry, Stops and Targets ...
XAUUSD - clear price action on gold.
Daily bullish inside bar with 4h bullish inside bar for entry. Bullish flag pattern continuation for more upside.
DXY will be a main factor on how this trade will turn out as dxy is on the verge of a big drop.
Gold prices just recently bounced off the ascending channel resistance and i am expecting prices to continue dropping towards the 50% retracement level of 1223.62. Possibly, prices may continue going further down until they test the lower ascending channel resistance. Though i have already entered a short position a bit late, it is better to check price action to ...
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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