XAUUSD Gold : Don't trade today ,18.4, without seeing this!
Güncellendi
Let's preform a quick surgery on the Gold's chart ;)
1) Gold broke higher than a big weekly triangle consolidation on 8th of April 2022 once price surged above 1945 and confirmed with a close above.
2) Another consolidation in the shape of a wedge took place between 8th of April 2022 to 12th of April 2022 until price surged above 1960 and confirmed with a close above.
3) What launched both of the above points (breakouts) - Is a 'reverse head and shoulder pattern' which is a bullish reversal candlestick pattern. Feel free to read about it and expand your knowledge.
A close above the neck-line of 1965 allowed for the continuation of the up-trend.
4) Currently Gold is facing resistance around 1995-2006 , with a close above - The new technical target would be to retest the ATH of March, ~2070.
***It's important to note that the clear bullish technical pattern is supported by strong bullish fundamentals of inflation and uncertainty***
***It's important to note that Gold may not go up in a straight line and may retest support levels of 1980, 1960 and 1940 - But even so, the big picture trend would still be bullish***
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Thank you for going through my analysis, it's highly appreciated.
If you found it useful - It would be amazing for me if you would like and follow.
My goal is to help the trading community maximize it's potential
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1) Gold broke higher than a big weekly triangle consolidation on 8th of April 2022 once price surged above 1945 and confirmed with a close above.
2) Another consolidation in the shape of a wedge took place between 8th of April 2022 to 12th of April 2022 until price surged above 1960 and confirmed with a close above.
3) What launched both of the above points (breakouts) - Is a 'reverse head and shoulder pattern' which is a bullish reversal candlestick pattern. Feel free to read about it and expand your knowledge.
A close above the neck-line of 1965 allowed for the continuation of the up-trend.
4) Currently Gold is facing resistance around 1995-2006 , with a close above - The new technical target would be to retest the ATH of March, ~2070.
***It's important to note that the clear bullish technical pattern is supported by strong bullish fundamentals of inflation and uncertainty***
***It's important to note that Gold may not go up in a straight line and may retest support levels of 1980, 1960 and 1940 - But even so, the big picture trend would still be bullish***
----------------------------------------------------------------------------------------
Thank you for going through my analysis, it's highly appreciated.
If you found it useful - It would be amazing for me if you would like and follow.
My goal is to help the trading community maximize it's potential
-----------------------------------------------------------------------------------------
İşlem aktif
Still very bullish on Gold, a break below 1940 support allowed for a retest of the 1890 weekly support. Non of the fundamentals changed and the big picture technicals remain the same.
Averaging with lower buy positions and being patient with proper lot sizes for account size can be huge win on the way back up.
Feragatname
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