Will gold keep updating higher highs upto 2800 ?Hello ligand traders ! I hope that you are doing good . Today we will talk about our gold update. As you can see gold is updating its upper boundaries levels with higher highs and higher lows .
We can draw the upward channel here . this channel is looking super aggressive for buyers .As you can see that this channel is produced from the reversal point which is 2690 zone .As this upward move is liking bubble effect , price can move down as retracement for further growth .
We can't purchase gold at high prices and also we cant sell in a strong bullish market .There is also small liquidity area constructed between 2722 and 2732. We will monitor it too . So we will closely overlook for any proper rejections from below or any possible double bottom in the ranged area. Stay tuned with ligand .
Xaususdbuy
IMPORTANT BUY ZONES ON XAUUSDCurrently Gold is at strong resistance area and we can expect pullback to ZOne 1 (2012.95 - 2008.67) and zone 2 (1978 - 1973.7) . BUY entries can be planned at these zones. On the other hand if price breaks the support zone 2, SELLS can be planned on retest. Like and Comments will be appriciated.
GOLD possibilities ( Video analysis coming out as well)This is a good time to enter on Gold if the Gold crosses the 1665 level then we can enter in sell with tp@1597
second possibility which has the highest prosperity is entering in Gold now in buy with tp@1774 we can monitor the trend at 1750 if we find Gold retracing from 1750 level we can close out otherwise we can wait till 1750
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its just an analysis not a signalif we consider gold moving in a parallel channel n we consider the two bounce on the support marked in boxes then the estimated buy would be 1448 and 1450, so that would be the best buy area. again this is just an analysis. im not an expert neither ive much knowledge like you ppl do so please do your analysis before jumping in the trade. stay safe stay healthy n like if you agree.
Regards