Gold two weeks, new records, 2k and above, Long Short Long
Updated
Gold broke above the fractal of my previous analysis, (see linked chart), taking a closer look at the 2011 highs I was able to use my method to create the idea above, I created a fractal between 9th May 11 and 29th Aug 11, from this I created a copy fractal to the present day chart, placing a copy of the 2011 bars in the fractal as guidance. 2020 was a week late in my idea above and as such moved a candle representation from 2011 a week forward, as FOMC falls on Wednesday, gold should make huge movments, using protection here is advised. In 2011 XAUUSD opened at 1719 closing at 1819, falling the next day to 1722, the following days making 1921 then bombing to 1633. If 2020 follows suite we could expect a high around 2000 with a fall to 1902 in just days before further north bound motion
For Free Discussion channel please message me.
if you find this chart helpful Please Like
For Free Discussion channel please message me.
if you find this chart helpful Please Like
Note
Very much on tack a further bit to add:Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.