View the next opportunity for XAU (gold) in terms of time.
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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 observing the change in angles, we can see that the 8-year bullish trend shifted from a strong rise to a more gradual rise.
Lastly, based on the information observed from the chart, the highest resistance level that gold could reach if it continues to rise is located around the price level of 2251. On the other hand, 1983 has become a key price level for the current bullish-to-bearish reversal in XAU. The lowest support price level is around 1775.
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 and I am committed to creating PVP companion trades to learn from.
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 observing the change in angles, we can see that the 8-year bullish trend shifted from a strong rise to a more gradual rise.
Lastly, based on the information observed from the chart, the highest resistance level that gold could reach if it continues to rise is located around the price level of 2251. On the other hand, 1983 has become a key price level for the current bullish-to-bearish reversal in XAU. The lowest support price level is around 1775.
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 and I am committed to creating PVP companion trades to learn from.
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