Q3(3RD QUARTER) ANALYSIS FOR GOLD, BULLISH BEFORE BEARISH Hey guys.
I'm Martin Sylvester😅😅😅😅
Everything Charts.
I want to engage you a little.
If your chart is open.
You could use horizontal lines on the higher Timeframe like D1.
Something is really really nice there and I spotted it. I may be wrong but it's so sweet and I'll like to share it.
$2000 price
$1900 price
$1800 price
$1700 price
Each with 1000pips separation but really aligns to price movements on Gold.
I'm more of a round up number person when it comes to dissecting a chart.
So Gold found itself at $1800 and just spiked to $1790.
When Gold got to $2000, it spiked to a midpoint $2050 but $2000 is the main main part, it went down to $1900, patterned it's movement back to $2000, dragged down to $1800
From all indications, history repeats itself😅😅😅😅😅
We are likely to see a move to $1900 or $1950 cos for Gold to spike to $2050 but main price point is $2000, history will repeat itself from past data that it will get to $1900 and may possibly spike to $1950/$1960.
Then drop down as before...
When it spiked to $2050/$2060, what happened???
It dropped to $1900, made a Retracement to $2000 and dropped to $1800.
So let's see it this way..
Rally to $1900, spike to $1950/$1960, then a drop to $1700.
That's like 2000pips plus repeated on historical data of the charts..
Cos $2050/$2000 to $1800 is 2500pips move...
So if there's a Retracement to $1950/$1900, it will be another 2500pips move if we were to look at how data collides with algorithm and repeats itself.
2500pips decline from $1950/$1900 would be at exactly $1700 as predicted earlier.
Trade with caution but these are just speculations, I may be wrong (as I'll always say).
I'm open to corrections(as I'll always say).
If you can take your time to mark these price points, it will help with trades for Gold(XAUUSD).
Lest I forget, there are in-between reaction price points too that I know of that moves in 200pips difference.
Lemme list them starting from top to bottom
$2070
$2050(midpoint for $2000 and $3000)
$2030
$2010
$1990
$1970
$1950(midpoint for $1900 and $2000)
$1930
$1910
$1890
$1870
$1850(midpoint $1800 and $1900)
$1830
$1810
$1790
$1770
$1750(midpoint for $1700 and $1800)
$1730
$1710
$1690
$1670
$1650 (midpoint for $1600 or $1700)
Yours Truly,
Martin I. Sylvester
Financial Market Analyst
