XAUUSD: Correction is startingGold turned its 4H RSI below 60.000 (RSI = 59.908, MACD = 11.510, ADX = 11.660) approaching the neutral technical zone for the first time since the April 3rd rise. This is in perfect sync with the February 2nd peak and subsequent correction. Tomorrow's Nonfarm Payrolls may be the catalyst. We are aiming at a -5% decline (TP = 1,930).
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XAUUSD Sell the top of the Channel UpXAUUSD crossed over the Fibonacci 0.786 level today and is approaching the top of the two week Channel Up.
This is a good opportunity to start placing short term sell positions targeting the MA50 (4h).
Trading Plan:
1. Sell on the current market price and as long as it stays inside the Channel Up.
Targets:
1. 1980 (the MA50 4h).
Tips:
1. RSI (4h) hit its Rising Support. This adds more selling bias as last time it did so on the Falling Resistance, it dropeed to the bottom of the Channel Up.
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XAUUSD: Pricing a top same as JanuaryXAUUSD run ranged all of last week and this is reflected on its 1D technicals, more specifically its flat RSI (RSI = 59.840, MACD = 25.590, ADX = 38.241). The Lower Highs since the March 20th peak are a sign of a possible top formation similar to late January. The RSI constructs are almost the same, we see a declining trend, which on January broke down after 14 days from the RSI peak.
We are going long only if the 2,010 Resistance breaks (TP = 2,050). Until then we maintain our short position from near the peak and target the 0.5 Fibonacci and 1D MA50 (TP = 1,910). Max technical short extension is the 1D MA100, which provided support in early March.
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XAUUSD Channel Up topped and overbought on 1HXAUUSD is trading on a Channel Up on the 1H timeframe.
The price reached its top and the Harmonic Resistance Zone.
The 1H RSI broke over the 70.00 overbought region.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1965 (Harmonic Support Zone and near the bottom of the Channel Up).
Tips:
1. The Channel Up is within a wider Triangle pattern. The more the price approaches the Triangle's top, the stronger the sell sentiment becomes.
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XAUUSD: Head and Shoulders pulling the price 1,900.XAUUSD is forming a Head and Shoulders pattern on the 4H time frame with 4H technicals neutral (RSI = 51.658, MACD = 2.180, ADX = 22.110). The 4H MA50 has already broken and negated as Support, the 4h RSI is approaching the top of its Channel Down and the 1D MA50 is about to enter into the S1 Zone (1,890 - 1,900). Being above the 0.618 Fibonacci retracement level of the March rally, the top of the zone is our Target (TP = 1,900). If the price crosses over the 2,010 Resistance we will take the loss and buy aiming at the -0.236 Fibonacci extension (TP = 2,050).
Prior idea:
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XAUUSD Bearish Divergence like January. Potential for huge sell.XAUUSD has been ranged for the past 7 days within the 2010 Resistance (1) and 1935 Support (1).
The RSI (1d) is inside a Channel Down, which is a Bearish Divergence.
A similar pattern was formed in late January and was an early signal of a top formation that broke aggressively downwards to and even under the MA50 (1d).
Trading Plan:
1. Sell on the current market price or if you want a confirmed signal, after Support (1) breaks.
Targets:
1. 1895 (on the MA50 (1d) and above Support 2).
Tips:
1. The MA100 (1d) was the trendline that supported Gold on the February 28th Bottom. It is not unlikely to see the market target this level again long term.
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XAUUSD New uptrend has startedGold crossed over the MA50 4H and invalidated the Channel Down.
This rise is strong as it started on a Double Bottom.
The price already filled the 0.382 Fibonacci level.
Trading Plan:
1. Every pull-back near the MA50 4H starting from now.
Targets:
1. 1870 (which is a little under Fibonacci 0.786 and on a projected course with the MA200 4H). Close the trade earlier though if it hits the MA50 1D earlier.
Tips:
1. The RSI 4H is entering a 1 month Resistance. Use this to anticipate when the price might pull back in order to either take short term profits or be ready for buying price pull backs.
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XAUUSD testing a 1week Support. Be prepared for both directions.XAUUSD - GOLD hit 1817.50 today, testing the Support of February 17th. As long as it holds, it is a Double Bottom pattern that aims that the 4hour MA50 (1835).
Over 1848.50 well target 1870 under Fibonacci 0.786. This scenario of a bullish breakout isn't unrealistic at all as while Gold has been on a Falling Support, the 4hour RSI still is on a Rising Support (Bullish Divergence).
Under the Double Bottom we target 1817.50 and then on the next rebound the target's 1790.
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XAUUSD, Weekly analysis for Feb 6-10Gold against the Dollar pair had a good bullish run in January 2023, price action displayed a majestic bull run all the way from 1800 to the 1950 price mark,
but 1950 behaves as a supply zone and it starts to push the price downwards currently
price may look to retouch a demand zone waiting down , but last week closing price 1865 behaving as a considerable support area , this week the gold may
go high to retouch the last week's break out price zone of 1910 before going further down below 1865 mark
XAUUSD Bullish on a consistent Channel UpGold is trading inside a Channel Up for the whole month of January.
Every impulse rise has been +/- 2.80%. At the moment we are in the middle of the latest impulsive wave.
Trading Plan:
1. Buy on the spot.
2. Sell if the MA50 4H breaks.
Targets:
1. 1950 (2.80% rise)
2. 1880 (top of the Demand Zone).
Tips:
1. The MA50 4H hasn't been crossed since Dec 29th. This means that Gold is very clear on its current bullish trend but even clearer on what its support is and what will follow when it breaks.
2. The RSI is moving downwards posting Lower Lows. Possible bearish divergence.
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What You Can See VS What You Can Think/FeelIn this video we will discuss the ultimate lesson in Trading... So listen up and pay attention.
The analogy used in this video should clear your mind entirely of any misunderstandings about the phrase mentioned in the title.
By Nature, making informed decisions ALWAYS relies on something that has previously happened to predict the future. That is the only logical basis one can go off in any decision making scenario.
If you are not doing this in the Financial Markets then you are gambling by nature.
We also go over my Gold Analysis near term / Future.
Watch on to learn more.
XAUUSD Important Plans / LevelsWell we mentioned also on XAUUSD we can LIGHTLY long if confident enough.
So there is your bounce. It's up to early resistance and you have the chance to exit..
If you do not exit are you willing to be dragged lower?
Does there look like a tight or wide profit margin?
All questions one must ask..
⭕Best BUY & SELL areas GOLD 💣🧨🔰You can see the gold analysis in the 15-minute time frame (XAUUSD_15min)🔍
✴️As is evident in the picture, the price is falling❗❗ The price can perform an uptrend up to the resistance🧡 line and downtrend🖤 line in the overlap of the DEMAND area and the uptrend🖤 line and 61.8% retracement fibonacci 💜 (from point A_B). If it breaks the resistance🧡 line upwards, it can climb to the SUPPLY range, if it can also break the mentioned SUPPLY range upwards, it can have another upside to the next supply range🧐🔺
But if the price can stabilize itself below the uptrend🖤 line, it can have a downtrend to the DEMAND range🧐🔻
which direction will the price go to the GREEN💚 side or the RED❤️ side❓❓
I hope the analysis was useful for you🤍🌹
📌Please introduce the channel to your friends 🙏🏻
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