Gold- do we have a bottom?
Another crazy week for gold with the price ranging 1000 pips from top to bottom.
The yellow metal started the week strong reconquering 2k psychological price, just to have a big sell on Tuesday. On Friday price made a new local low but bulls regained control and put in a nice pin bar visible on the daily chart.
A more detailed look on H4 chart reveals a false break and a double pin bar formation under 1925. Also, this consolidation and volatility seem to be narrowing and could form a symmetrical triangle.
The long term trend for Gold is clearly up and would remain so as long as 1880 is intact.
On the short term buy dips for a target of 1980 is my strategy for next week.
The yellow metal started the week strong reconquering 2k psychological price, just to have a big sell on Tuesday. On Friday price made a new local low but bulls regained control and put in a nice pin bar visible on the daily chart.
A more detailed look on H4 chart reveals a false break and a double pin bar formation under 1925. Also, this consolidation and volatility seem to be narrowing and could form a symmetrical triangle.
The long term trend for Gold is clearly up and would remain so as long as 1880 is intact.
On the short term buy dips for a target of 1980 is my strategy for next week.
Christmas & New Year Offer: 40% Discount- More Details: t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.