Long term GOLD
Welcome fellow Tradingviewers,
I am back with another long term view, after the last analyses followed my path to the point. We literally caught the trade from 1285 all the way up to 1557 giving us immense profits. If you are new to my channel you should check my previous analyses stating the areas said above. Please remember, that this is not financial advice, I am again only showing you guys my view on Gold.
If you guys like this analyses please don't forget to leave a Like and if you have any questions or thoughts let me know below!
Lets go for round 2 I guess!
Since the first analyses played out perfectly extending all the way to the end of the cup and handle we are now ready to start phase 2.
Monthly:
The last monthly candle managed to avoid becoming a Bearish engulfing candle which is slightly bullish, but still leaving more room for downside momentum.
Weekly:
We are slowly approaching the 50 MA weekly, the 100 MA is also slowly climbing to give us some higher dynamic support levels which is almost located at the 'heavy resistance' of around 1350.
The weekly ascending wedge broke out with the target around 1700-1750 if you have not seen it yet make sure to checkout my previous analyses!
Daily:
We are seeing that the 50 and 100 MA are starting to form a death cross, which would indicate more downside momentum.
We are currently at the 1450 support, this one will probably not hold and we will see some more downward momentum.
The 200 MA is known as 'the last leg' of support and we are expecting this to be touched. We expect it to be touched because the death cross is showing us that there is room for some bearish momentum.
The 200 MA is located around 1400 and this will probably elevate a bit between the 1400 and 1420 zone, which currently is the highlighted buying zone.
Ideal buying zone would be between the 200 daily MA and the 50 weekly MA, we are expecting a lot of buy orders between 1420 and 1400. This is where we believe the second rally will start.
We are still waiting on clearer signs for entry points, we still need the 'trigger' to enter a position.
The trigger wil usually be a clear pattern or a candlestick conformation.
If you guys liked my analyses or have any comments please leave them below I will answer them asap.
Lets hope that this second analyses follows our path like the first!
Kind regards,
Forallcrypto
I am back with another long term view, after the last analyses followed my path to the point. We literally caught the trade from 1285 all the way up to 1557 giving us immense profits. If you are new to my channel you should check my previous analyses stating the areas said above. Please remember, that this is not financial advice, I am again only showing you guys my view on Gold.
If you guys like this analyses please don't forget to leave a Like and if you have any questions or thoughts let me know below!
Lets go for round 2 I guess!
Since the first analyses played out perfectly extending all the way to the end of the cup and handle we are now ready to start phase 2.
Monthly:
The last monthly candle managed to avoid becoming a Bearish engulfing candle which is slightly bullish, but still leaving more room for downside momentum.
Weekly:
We are slowly approaching the 50 MA weekly, the 100 MA is also slowly climbing to give us some higher dynamic support levels which is almost located at the 'heavy resistance' of around 1350.
The weekly ascending wedge broke out with the target around 1700-1750 if you have not seen it yet make sure to checkout my previous analyses!
Daily:
We are seeing that the 50 and 100 MA are starting to form a death cross, which would indicate more downside momentum.
We are currently at the 1450 support, this one will probably not hold and we will see some more downward momentum.
The 200 MA is known as 'the last leg' of support and we are expecting this to be touched. We expect it to be touched because the death cross is showing us that there is room for some bearish momentum.
The 200 MA is located around 1400 and this will probably elevate a bit between the 1400 and 1420 zone, which currently is the highlighted buying zone.
Ideal buying zone would be between the 200 daily MA and the 50 weekly MA, we are expecting a lot of buy orders between 1420 and 1400. This is where we believe the second rally will start.
We are still waiting on clearer signs for entry points, we still need the 'trigger' to enter a position.
The trigger wil usually be a clear pattern or a candlestick conformation.
If you guys liked my analyses or have any comments please leave them below I will answer them asap.
Lets hope that this second analyses follows our path like the first!
Kind regards,
Forallcrypto
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