🥇Gold🥇will fall with Bearish AB=CD Harmonic Pattern⚠️Gold is moving near the 🔴 resistance zone($1922.6-$1919.8) 🔴.
The cluster of Fibonacci levels is well visible in the resistance zone.
Also, the Bearish AB=CD Harmonic Pattern can be seen.
I expect gold to decline again to a 🟢 heavy support zone($1904-$1886.40) 🟢.
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post.
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Xauusdanylsis
Gold analysis today, rise to grab Liquidity ?Gold analysis today (Liquidity update)
As previous, we was saw price went downward to grabbed below liquidity.
It's a spring event in small Wyckoff accumulation schematic (5m time frame).
Let's look on right chart (daily time frame):
This week, we'd to see price go upward to grab above liquidity.
Those are some areas that we're marked on the chart.
You could see detail Wyckoff analysis of XAUUSD below section.
We also could enter long positions when Price re-test Last point of Support around 1781 level.
Then we want to see how the price reacts at above resistance levels.
1809-1810
1814-1815
1820-1822 or above
We're trading in a range.
If price reject those levels, we can try to short Gold to below supports.
And we'll only enter when there are enough confirmations.
If you find the article useful or interesting,
Let's comment below !
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Notes on using this gold trading idea
This is ONLYGOLD team's idea and analysis.
Let's see it as an example or a reference.
You also need your own analysis as well and manage risks.
XAU/USD Gold Wyckoff Distribution!Gold has been in this sideways range for over a year.
What was considered to be a breakout that allowed it to touch the 1920 area, was indeed an Upthrust After Distribution, in my opinion.
Two more followed, and I'm already shorting and in profit, since about 1900.
See the chart for reference.
If you like this idea, like, follow, and consider supporting me.
Thank you!
TrickleDown FX
Wondering why GOLD drops? Here is WHY!Hey tradomaniacs,
lots of Robin-Hood-Traders are asking themselfs: Why is gold and silver dropping?
Well it can have a lot of reasons such as Profit-Saves due to the overbought situation, the fact that stock-market continues to climb and SPX500 is almost at its All-Time-High (portfolio turnover).
It can be the fact that DXY (US-DOLLAR-INDEX) is oversold and so likely to retrace.
There can be a lot of reasons but one very obvious correlation that makes sense: US BONDS YIELD went straight up after hitting an all-time-low.
Why is that? When there is still uncertainy and fear the stock-market all the institutional traders are looking for save havens.
Save havens are usually alternatives to stocks such as metals, currencies like YEN and CHF or BONDS as you get a safe and fix return for your investment.
But what if the interest rates are too low? You look for alternative assets which are not interest.
Gold has always been a save haven, which is the reason why the current rally makes no sense.
Why would CHF, YEN, metals such as Silver and Gold climb at the same time? Because the market is uncertain!
Gold currently has a negative correlation with US-BOND-YIELDS as it is a no interest asset and a good alternative for a low-interest-market.
Watch these YIELDS when you do your analiysis for gold. ;-)
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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