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Gold-trend

Gold Trend Reversal - Double Bottom, MACD and OBV divergence Gold is currently at a 13 month low and key indicators are starting to show a potential trend reversal. On Balance Volume is showing a divergence over the past week. OBV is a key momentum indicator and divergences in price and indicator usually provide a reversal signal. MACD indicator is a common divergence indicator and is showing clear divergence. Also, it is showing a clear triangle formation with classic Elliot wave movements ABCDE. The price channel of Gold has failed to touch the lower support line but instead created a horizontal support equal to the previous 13 month low on July 10th 2017. There is a strong confluence of indicators and price action that suggest a trend reversal. When the trend reverts to bullish, I expect a very strong bullish move up as volume levels are at extreme lows. Also on the chart is my faithful Ichimoku indicator, its an indicator I have been using recently and is especially helpful for finding Elliot waves and confirmation of price trends. I am quite confident about this one.
OANDA:XAUUSDLong
by Dubsta000
Gold's 17 Year Bull Market is only in Year 13The YEARLY TREND of $XAUUSD or Gold is still in an uptrend from a massive, 17 year mode at the $395-$398 zone. The 26-year sideways period from 1979-2004 had 17 years at a $3 price level between $395.3 and $398.3, which is a remarkably long time for a market to stay at one price. Once a market gets moving out of a range like that it tends to go for 17 years in total. That first year was 2005, so that makes 2017 the 13th year of the 17-year uptrend. The other interesting part is that the price range of the consolidation as measured from low to high was $633 or 292%. When adding $292% to the mode of $395.3, you get a target of $1530, which has been surpassed already, but oddly the $1527 level was the "HIGHEST YEARLY LOW" which happened in the year 2012. I would also add that Gold has formed a new 6-year mode from $1226 to $1178, so anytime Gold is above $1226 it can extend gains and move back towards the highs above $1527. The best way to trade long term uptrends is to buy when shorter term trends turn down and then exhaust themselves. Which means, essentially, that you jump back into the long term uptrend when short term selling occurs to push the price down temporarily which provides a low risk entry point. Stay tuned - and next look at the "MONTHLY TREND" and then the "WEEKLY TREND" and the "DAILY TREND". We often cover these in the Key Hidden Levels chat room since Gold is such an important market to everyone in the world. PS - I'm putting a "Long" on this chart because the Gold UPTREND is still in tact and in control. Tim April 29, 2017 2:41PM EST
FX:XAUUSDLong
by timwest
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