KaanErdinc

KaanErdinc

Here is my expectation if the gold can retrace towards the levels that I highligjted as Entry 1 and Entry 2. If it can happen, I will be in the long position until 2100s to fill the monthly wick belongs to the previous candle.

KaanErdinc

The gold needs to retrace to make a bottom wick towards 2070 areas. The price increased parabolically which is not a helathy price action. It happened due to FOMO reaction of the market to the price movement.

KaanErdinc

The triangle formation in the Gold now broken. After the retest towards 2035-2038 levels, there is high probability that it will make its way up towards 2070 levels. In this case, I will be looking for buys from 2038 to 2035 levels. I will update the trade idea again whenever the price reaches towards that level.

KaanErdinc

The price of gold might fill the range towards 2016 levels again to find liquidity. It tried to break the resistance level at 2037-2040 levels for several times but it failed to do that. Therefore, in this case, it needs to find liqudity from somewhere to keep pushing up if it needs to retest the highs at the 2050-2060 levels.

KaanErdinc

Closing below 2030 levels in 4H, the gold might retest 2020 levels in the following days. There is a channel formation on the 4H time frame. It is worth to take that channel into account before taking positions.

KaanErdinc

Here we retraced perfectly towards 2026 levels which is the fib 0.618 level of the push-up. In this case, we might expect the price to reach to the highs on the previous week and even break them out to test the 2060 levels.

KaanErdinc

Since we now retraced to 2030 levels, I expect that the price is going to fill the range towards 2060. If there will be an breakout of 2060, I will hold the position until 2080s.

KaanErdinc

I expect a retest to 2037 because it needs to validate the resistance at 2040 levels. It might then move a little lower towards 2030 levels.

KaanErdinc

If the price can close above the resistance level at 2039 after retesting the support level at 2029, then there is high probability that it will make its way back up to 2060s to retest the previous highs.

KaanErdinc

There is no wick at 2030-2031 levels. The price needs a retest towards that region.

KaanErdinc

Since the price has retraced to 2016 level, I believe that it can test the highs at the 2037 to fil the range.

KaanErdinc

Here is two scenarios that can play out in the following days. I will share my position ideas whenever I see an opportunity. So far, my analysis on GOLD has great success rate. You can check my profile for previous trades that I took and shared with you.

KaanErdinc

The Gold should retrace to 2018 before moving up again.

KaanErdinc

Here is my key expectation for the price of Gold on the following days. It is valid from both fundamental and technical analysis. Let's see if we can also reach to new all time highs in this month depending on the price structure on the following days.

KaanErdinc

Mostof the people missed the move to the upside. Therefore, we need a retest to include everyone. Let's see.

KaanErdinc

Here is the potential for long position if the price can break above the resistance level at 2013-2015 levels. We can re-test the highs first before anything else so be aware of this.

KaanErdinc

The price should retest 2001 to validate the support level

KaanErdinc

Whenever the price closed below 2006-2009 levels, it has reached to 1979 levels. It can also be the case for this time too. There is a clean traffic around here so watch out for these key levels before taking positions. I am looking for sales now and I will be looking for buys around 1979 levels. I will update the possible ideas when the time comes.