StevoTZeng

StevoTZeng

This week's contemplation on gold witnessed a continuation of its strong bullish trend, which was bolstered by last week's ADP and NFP data—every day marked new historic highs. The market opened this week with a drop followed by a surge, reaching a fresh historic peak at $2354, directly challenging the upper bound of the short-term uptrend channel. Reflecting on...

StevoTZeng

Post-holiday trading began with a bang as gold (XAUUSD) hit a historic high of 2266, capping off a quarter of consecutive gains since last year's breakout above the previous high of 2149. The swift 27-day rally added a 225-point spread, indicating a profitable 1:2 risk-reward ratio. As we move into the new quarter and march toward mid-2024, the opening on Monday...

StevoTZeng

Summary of Thoughts After last week's FOMC meeting, XAUUSD enjoyed a strong rally after breaking out of the previous triangular flag narrowing pattern, at one point touching a new all-time high of 2222. The price then quickly retreated to the 2158 level, where it tested support, before recovering slightly to the 2166-2175 area. With a neutral RSI, price...

StevoTZeng

Market Review and Outlook Gold prices have shown significant volatility following the FOMC meeting, with a successful base formation around $2,152 leading to a subsequent uptrend. This move aligns with previous analyses that projected a potential push to historic highs, with gold reaching an apex of $2,223 in Asian trading sessions - a level anticipated as a...

StevoTZeng

Gold prices briefly fell below the $2,000/oz mark in mid-February due to better-than-expected U.S. manufacturing PMI and NFP data, as well as a stronger U.S. dollar. Although the gold market later partially compensated for its losses thanks to short-term institutional covering and more moderate PCE data, it ultimately fell 0.6% to $2,054.60/oz in February. Silver...

StevoTZeng

Market review and outlook Following the release of the NFP data, spot gold prices rose to a new high of $2,194 an ounce, but closed at around $2,178 an ounce. The price of gold has risen for two consecutive weeks since March, and the RSI indicator is close to 71, indicating overbought conditions, but in the short term, it appears to be trading sideways at a high...

StevoTZeng

Idea Last week the gold market showed clear directionality, raising the possibility of room for future movement. As the accompanying chart analysis shows, December 2023 saw a new all-time high for spot gold at $2,148. From December 2023 to February 2024, the gold price oscillated in a tight 'small flag' pattern. The watershed in sentiment appears to have been...

StevoTZeng

Thinking about the latest developments Bitcoin prices are close to their all-time high in 2021 after a four-month climb starting in October 2023. After touching the $63,891 price level, Bitcoin experienced a correction to near $58,995. According to daily chart analysis, from 2020 to now, the price of Bitcoin is still fluctuating within a wide range from $38,840...

StevoTZeng

hello Trade, Thoughts on the latest developments Spot gold prices experienced considerable volatility last week. Following the release of some data, the price briefly stalled at $2,034, then fell to $2,016 (near the MA100 moving average), but soon climbed back above $2,034. By Friday's close, the price was near $2,040, showing a fluctuating washout at the lower...

StevoTZeng

hello trade, The Christmas tree shaped candlestick pattern in XAUUSD truly captures the holiday spirit. The full, rounded tree crown resembles a jolly green Santa hat, with flickering candles like stars nestled between the candle wicks. The trunk is composed of neatly stacked candlesticks, their folds representing the natural texture of a woolen winter coat....

StevoTZeng

G'day trader, Hope your trades are going swell! Gold prices have now retracted back into the range of the last three months. In my view, gold may continue fluctuating between the two key levels of $1,936 and $1,914. We can use these gleaming figures as guiding benchmarks when formulating our trading plans. In this shimmering sea of prices, we can seize...

StevoTZeng

hello trader thank you for check about my idea. hope you enjoy you trade life with using tradingview.

StevoTZeng

Hello follower & trader Happy trading! Thanks for checking it out, everyone in this market wants to make money so they don't want to miss any opportunities. No one knows where the tops are but the bottoms should be the best to find, but rainbow bubbles can be deceiving, be careful and trade safely!!! Hope you can catch !!!!

StevoTZeng

Hello follower & trader Happy trading! Thanks for checking it out, everyone in this market wants to make money so they don't want to miss any opportunities. No one knows where the tops are but the bottoms should be the best to find, but rainbow bubbles can be deceiving, be careful and trade safely!!! Hope you can catch !!!! Your interest is my motivation to share...

StevoTZeng

Hello follower & trader Happy trading! The chart records and marks my observations on the monthly trend reversal of XAU (gold). The green channel represents the parallel channel trend of gold that started in 2005 and indicates the upward movement. The blue channel represents the parallel channel trend of gold that began to reverse the upward trend in 2011. By...

StevoTZeng

Hello follower & trader Happy trading! Thanks for checking it out, everyone in this market wants to make money so they don't want to miss any opportunities. No one knows where the tops are but the bottoms should be the best to find, but rainbow bubbles can be deceiving, be careful and trade safely!!! Hope you can catch !!!! Your interest is my motivation to...

StevoTZeng

Dear followers and trader have a great weekend. Thanks for checking, everyone in this market wants to make money, so they don't want to miss any opportunity. No one knows where the top is, but the bottom should be the best to find, but a rainbow of bubbles can be deceiving too, watch out for a safe trade!! Hope you catch up !!! Your attention is the driving...

StevoTZeng

Dear followers and traders, have a great weekend. My thinking and analysis are the three possible routes shown in the figure, green, blue and red, and three possible directions. Thanks for checking, everyone in this market wants to make money, so they don't want to miss any opportunity. No one knows where the top is, but the bottom should be the best to find,...