Forex-gold
Gold (XAU/USD) MArket Pattern for Buy setup!!I will do a video explain why previous pattern are now repeating , we could see price of gold retrace to 1906 level as previous all time higher patter.
We first need to see price form some sort of support and we shall have a nice risk to reward. and we need price to break the 38,2% fib level to head towards 1906 level
Follow me for The video breakdown!!
GOLD next stage of fallMy last prediction came true.
Namely: the price fell from a strong resistance level to the support zone.
This level was only broken through in 2020.
The last touch (in 2011) caused the price to collapse.
After touching the strong resistance at 1866.83, the price came to the support zone at 8149.61.
I expect the price to break through this area.
Then it will fix on it and go down to the next zone of support.
The target is 1822.63.
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GOLD (XAU/USD) – Week 3 - November lows Incoming pt. 2Last week, we pointed out in our Gold analysis that a consolidation will start in order to gather up enough momentum in order to continue its journey to retest the November lows. Most of the week, the price corrected the previous descending impulse, before slightly starting to pick up some bearish momentum in the late Friday trading session. All this considered, we anticipate a slow start for this week, as we may witness a small price increase before resuming the bigger 4H trend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
DOLLAR INDEX - BLOODY MARKETS AHEAD? | DESCENDING WEDGE/FRACTAL
Dollar Index has undergone a deep and extensive sell off since Q1 2020 when coronavirus spread throughout the world
After an insane amount of printing, the dollar has inflated and devalued tremendously
Technical analysis indicates that the DXY has oversold and is due a reversal and correction
Price action is acting very similarly to the last cycle of the DXY pumping then selling off into a descending wedge
Price seems to be breaking out of the descending wedge and is suggesting an explosion to the upside
Monthly and weekly stochastic is deeply oversold and crossing over indicating a reversal
Targets are the fibonacci zone as they are also key volume zones
First target will be the 38.2% fibonacci as this coincides with the 200WMA and is a key volume zone
Although the dollar has inflated and devalued so much, it is plausible for a significant retrace and pump up to occur whether short-term or long-term
As a consequence, all markets would be hit with selling pressure. Markets including stocks/shares, USD FX pairs, and especially crypto with the cryptocurrency market down a significant amount
Caution is deeply advised with respect to long positions in the mentioned markets above, as well as broader investment strategies
GOLD consolidate on support level/ GrowAfter the mid-week crash, gold dropped and bounced off the level.
Then there was a rollback.
Now the price is at the strong support level of 1907.981.
This is a historically strong match.
When the price last touched it in 2011, it collapsed.
It is important that this time the price
a) broke through the level during the growth (in November 2020),
b) after falling over the level, it was fixed on it
c) broke through the level during the growth for the second time.
And stuck on it.
I expect that the price will return to growth from the support level.
It will come to the resistance zone (intersection of two lines)
Target - 1930.446.
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Gold - GLOBAL - SetupAfter securing major profits with 11 wins in a row we look for our next play.
We have decided not to trade within these areas as the news has been controlling the price action.
As you can see we hit major overhead resistance in our green take profit zone ( We closed all positions in profit @1897 - You can see previous post ) and had a pull back.
So where are we heading next?
I will look for confirmation within our green box in the middle of the channel for buying opportunities. I don't see us testing the bottom of the channel but we will have a plan B in mind.
GOLD update The growth continues and our last forecast has already reached the first target
Hold our trade.
for those who did not have time to enter, I recommend waiting for the next entrance, but for now we are waiting for the gold to reach our target.
+ 3 lines support our trade: small, normal and strong line.
GOLD, My Favorite patter. Buy after...You will learn the best place where we can trade this instrument at low risk.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.
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