Gold - A Reversal Will Happen Soon

21 Ağu

XAUUSD | Gold is still in a bullish market:

After the strong breakout which we saw in the beginning of 2024, Gold started another major bullish market cycle. This cycle is definitely not over soon, but Gold might create a short term correction, which would perfectly line up with the upper resistance of the rising channel.

Levels to watch: $2.650



Click chart above to see the detailed analysis👆🏻

Keep your long term vision,
Philip (BasicTrading)

2 Eyl

İşlem aktif

Trading update on Gold (XAUUSD):



Click chart above to see the detailed analysis👆🏻

Gold is almost at the upper resistance trendline of the rising channel formation. With seven consecutive green candles, Gold is then ready for a (short term) retracement but the overall bullish trend remains valid, therefore: Ddps are buying opportunities.

Levels to watch: $2.700

Keep your long term vision,
Philip (BasicTrading)

17 Eyl

İşlem aktif

Trading update on Gold (XAUUSD):



Click chart above to see the detailed analysis👆🏻

Higher, higher and higher and there is still a strong channel resistance at roughly $2.700. However Gold can still move about +7% towards the upside and squeeze even more bears, before a potential bearish retracement is possible. Just don't fight the overall bullish trend.

Levels to watch: $2.700

Keep your long term vision,
Philip (BasicTrading)

24 Eyl

İşlem kapandı: hedefe ulaştı

Trading update on Gold (XAUUSD):



Click chart above to see the detailed analysis👆🏻

Gold finally hit the upper resistance trendline of the rising channel pattern, perfectly rallying +35% after the strong breakout above the psychological $2.000 level. This was an insane bullrun, also massively outperforming stocks, and now a short term correction might happen.

Levels to watch: $2.700, $2.000

Keep your long term vision,
Philip (BasicTrading)