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Gold recently broke 1610+ high, now it's at 1681+, overally price made higher highs, higher lows, we could see price spiking up to 1710, 1720+ and then coming back to 1620, where it could make a new impulsive move, possibly breaking 1920+ record highs....
Price recently broke out of Descending Channel, now retesting it with support 1.07030 level, so we got 2 confluence to enter a trade with low risk and high reward!
Price broke-out of uptrending channel, once it touches sup/res of channel, we can open Short position, with good R/R!
On weekly time frame we can see that price is inside of LONG TERM uptrending channel! 2 big rejection candles off channels support! Can we do that for 3rd time, and skyrocket up? Let's see!
Price broke out of channel, consolidate, break out, and is about to re-test it before going down! 400+ pips for long-term trade!
On 30 min time-frame we got good short-term buy opportunity as price on 4H closed above 1.31740 support + TL!
Price is inside of up-trending channel, bounced off 1.29650 level and last days was very bullish! What i expect is, price will go up to 1.33450 level (strong resistance level) , make rejection, and break-out of the channel! If we compare XAU/USD with GBP/USD it makes sense at the end of the day!
For now price is inside of the uptrending channel, and is testing resistance, which shows us that it's kinda making Head n Shoulders pattern, as we know that XXX/CHF pairs will be strong upcoming weeks, and CHF/XXX pairs weak!
Price is inside of long-term descending channel and recently broke out of the short-term channel, now reaching support level, and possible reversal! Looks like CHF will be very weak upcoming weeks/months!
On daily time-frame price is in descending long-term channel, on 4H price is in descending short-term channel reaching Strong support level, where we could see price changing momentum!
Price is inside of descending channel, reaching channels support, big probability that price will go up!
GA will be very interesting pair for next weeks/months, on 1.98700 - 1.99000 level we have 4 confluences: 1. Long term channels resistance, 2. Short term channels resistance, 3. Monthly descending TL, 4. 61.8 fibonacci level! It really shows that 1.98700 - 1.99000 resistance level is very, very strong! + it's brexit time, we need to see how price reacts at that level...
In the big picture, price is inside of long-term uptrend + short-term uptrend, we could see rejection off 1610 -1620 level and start our journey to the downside!
Very simple Eliott Wave patterns, from this analysis we can expect price to drop drastically, while completing E Wave (600+ pips) long-term! Executing position for best risk would be, at the top of the triangle or at the bottom... Risk Reward could be up to 1 to 20, if you're very serious to hold this trade for kinda long time!
On daily time-frame price broke-out of the Ascending channel, very good opportunity for shorts, as price is retesting channels support/resistance, Risk Reward is 1 to 5.5!
As we can see price is inside of the Descending channel, soon reaching strong weekly support, Solid 1 to 3 Risk Reward!
Every month i will publish Weekly Structure ideas, so you have better idea of what's happening!