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Gold Spot / U.S. Dollar
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XAUUSD approaching Strong Resistance (top) ? Gold historic climb

2 393
As we all know Gold has been in a parabolic climb.
Thus far it has avoided any retrace or corrective moves.
And we all know the price cant just keep going up forever.

Picking tops is tricky and possibly dangerous if shorting.
Risk sentiment may worsen and it could just keep going.
But plotted are three upcoming zones/prices of interest.

1430.65-1431.24 is nearby (but not strong) resistance.
1436.90-1439.22 is a wide zone of strong resistance.
1443.45-1443.55 is a tight zone of very strong res.





Previous Analysis:
$1332 bounce
$1320 top Call
$1270 bounce
$1280 break
$1380 call 4mos ago


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Note
Here we are, right up against the fist serious resistance snapshot

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Note
Nice Ping on top boundary of zone snapshot but sow, this thing looks like it will blow through this resistance as well. Wow.

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Note
looking at the reaction under a Microscope: snapshot Perfect zone recognition.

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Note
So that 1439 top proved important.
Now I am looking at retrace possbilities snapshot
That would be an extremely bullish retrace (if we even get that, this still looks strong)

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EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
FibonacciSupport and Resistance

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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.
FibonacciSupport and Resistance
EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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.