OWLINGOLD

OWLINGOLD

In this trading idea, we will explore the potential long position opportunity in the EUR/USD market on the 1-hour timeframe. We'll discuss the technical analysis that supports our thesis, including the 78.6% Fibonacci retracement level, Wedge bottom formation, RSI divergence, and price action signals. This analysis will guide us in identifying a compelling trade...

OWLINGOLD

Introduction: In this trading idea, we will explore the potential shorting opportunity in the XAU/USD (Gold) market. We'll discuss the technical analysis that supports our thesis, including the major resistance level, candlestick patterns, RSI divergence, trendline break, and Fibonacci retracement levels. This analysis will guide us in identifying a compelling...

OWLINGOLD

Weekly GOLD is in Trading Range. Volume Starts to diminish. RSI works great in Trading ranges and becomes Overbought. Prepare to GO Short

OWLINGOLD

Gold broke through the Bearish trend line on the 7th of November. Since then, the price has risen roughly to 1825 USD. The major reason for the rise is the fall of the dollar Index DXY . Typically, December is quite bullish for Gold , which continues until the Chinese New year ( Spring festival) or 22. 01 .2023. From a Technical point of view, there are some...

OWLINGOLD

Gold broke through the Bearish trend line on the 7th of November. Since then, the price has risen roughly to 1825 USD. The major reason for the rise is the fall of the dollar Index DXY . Typically, December is quite bullish for Gold , which continues until the Chinese New year ( Spring festival) or 22. 01 .2023. From a Technical point of view, there are some...

OWLINGOLD

Gold broke through the Bearish trend line on the 7th of November. Since then, the price has risen roughly to 1825 USD. The major reason for the rise is the fall of the dollar Index DXY. Typically, December is quite bullish for Gold, which continues until the Chinese New year ( Spring festival) or 22.01.2023. From a Technical point of view, there are some bearish...

OWLINGOLD

After the triple bottom pattern and piercing the downward trend line a week ago, XAUUSD successfully finished the throwback. The new support is the neckline of the triple bottom. Usually, we take the pattern's height ( from the bottom to the neckline) and project it after the neckline breakout. Yesterday's candle had a long lower shadow, meaning the bulls are now...

OWLINGOLD

After the steep uptrend penetration more than a week ago, the DXY index is in the Elliott's second correction wave ( wave B). We used Fibonacci retracement levels to predict the potential third wave( wave C) endpoint. Typically, in corrections like this one, wave C is preliminary the same length as wave A. In most cases, the price retraces between 50 and 61,8%....

OWLINGOLD

We see a symmetrical triangle on the Weekly gold time frame. After the brake out we see a pullback to the triangle apex which is usually a major support level. This support level is also confirmed by 0.618 Fibonacci retracement level. The pullback can be potential second Elliot wave, which indicates that a third longer wave follows. What do you think about this adea?

OWLINGOLD Updated 

On a monthly basis we can see a flat brake out of a wagging wedge chart pattern . The dollar is in distribution congestion zone preparing to drop significantly !!! The RSI is in the overbought zone The first major resistance is 80-81 area- this is the expected pullback to the trend line. The second major resistance is the wagging wedge apex. The apex of a chart...

OWLINGOLD Updated 

Gold bullish divergence on a 4 h. time frame. Apex major support on a Symmetrical triangle pullback. Possible trend reversal

OWLINGOLD

GOLD is going high because of US fiscal stimulus, New Variant of Covid 19 and UK lockdowns, Potential Brexit deal. This​ will make the ​dollar weaker which will reflect precious​ metals. Usually,​​ after Chinese​ New Year's eve,​ gold is ​going downward ( 14th of February).