Long

First bullish then bearish?

Updated

Last week we managed to win the gold market with my great analisys. Gold broke the 2030 zone and tested the upper resistance level 2040. Atm gold is respecting a bullish trendsupport. In my opinion gold is not done yet with the bullish momentum. I am expecting gold either to break 2040's direct or fall back to around 2030 or the trendsupport and search for higher levels around 2050 and also the trendresistance were we can expect a big rejection or bearish reversal back to 2015 and 2008.

We need to follow priceaction close for high profibility setups.

Resistance: 2040, 2050, 2057
Support: 2030, 2014, 2008

Note

Gold fell during asia and respected the 2030support. Congrats if you took the trade. In my opinion gold still has the posibility for growing towards 2050 level

Note

Gold on the move!!!

First target is 2037 second 2047.

Note

Most traders anticipating on longterm sells from 2040. Double top and other ideas.

In my opinion gold is building liquidity around that zone. Then it will breakout bullish agressively wreck all those early sellers en then posible from around 2047 up to 2053 big fall comes and creates a big fakeout on daily perspective. H4 is confirming this..

Obviously i cant see in the future... Sometimes i just recognise certain patterns wich remind me off previous market movements. After all those years trading gold you start to notice certain behaviour guys.

Lets see wich side wins😉 at the end the gold market can trick everybody

Note

Congrats if you followed my advice

Note

Be carefull with selling directly as given on the chart It is posible gold will breakout the channel test upper resistance first around 2057-2060

Note

Updated Chart. Expectations for gold. Posibility remains gold may grow up to 2055-2059 resistance and from here a fall. Or a fall direct from resistance trendline

Note

Congrats guys. Profits after profits. Expactations are gold will fall over time.
2058-2065 is big resistance

Note

Its save to say that the gold market ended in a BIG BANG. Lots off sellers got wrecked at 2060, 270 and 2080 levels. In my opinion this was manipulated by big players. Trying to grab SL's

I did not expect this to happend. Technical view was bearish from 2060-2065. But losing trades is al part off trading guys

ForexGoldIntraday

Related publications

FIrst long then posible short again

by ForexGoldIntraday

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.