GOLD 1H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price play between two weighted levels with a gap above at 2778 and a gap below at 2768. We will need to see ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2778
EMA5 CROSS AND LOCK ABOVE 2778 WILL OPEN THE FOLLOWING BULLISH TARGET
2787
EMA5 CROSS AND LOCK ABOVE 2787 WILL OPEN THE FOLLOWING BULLISH TARGET
2797
EMA5 CROSS AND LOCK ABOVE 2797 WILL OPEN THE FOLLOWING BULLISH TARGET
2808
BEARISH TARGETS
2768
EMA5 CROSS AND LOCK BELOW 2768 WILL OPEN THE FOLLOWING BEARISH TARGET
2757
EMA5 CROSS AND LOCK BELOW 2757 WILL OPEN THE FOLLOWING BEARISH TARGET
2746
EMA5 CROSS AND LOCK BELOW 2746 WILL OPEN THE FOLLOWING BEARISH TARGET
2732
EMA5 CROSS AND LOCK BELOW 2732 WILL OPEN THE SWIG RAGE
SWING RANGE
2707 - 2697
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Chart Patterns
BITCOIN → New targets! What will happen to ALTCOINS ?BINANCE:BTCUSD went into consolidation after a failed attempt to break through the 108K resistance. Nothing terrible happened, the weekly structure is quite strong, and the market needs to build up its potential. What is happening and what to expect in the future?
In the week ahead, the focus is on the US rate meeting, GDP and PCE. If the US macroeconomic data disappoints, it could lead to a lower dollar and more interest in BTC.
As for Trump, he may give a good driver to the market if he pushes for the inclusion of BTC in the federal reserve, which is what the crypto trading community is waiting for now. But, it should be realized that tight US monetary policy and possible further rate hikes create pressure on high-risk assets, including bitcoin.
In a sideways moving environment, BTC dominance remains stable, around 50-60%. Altcoins are more likely to perform weakly in such an environment, with the exception of a few highly liquid assets.
If BINANCE:BTCUSD drops to 91.7К - 95К USD, it is likely that capital will continue to stay in BTC as investors focus on risk mitigation. Altcoins can only show growth if bitcoin has a new momentum above 107,400 USD.
Resistance levels:106.9, 107.5
Support levels: 102.5, 99950
Because of the strong resistance, the price is very likely to test one of the key support levels. And already from 102.5 - 100K a rather aggressive rebound may follow. But it is necessary to observe the character of the price and its approaching to these or those strong levels. Sharp movements often end in reversals, when smooth and gradual heralds a breakout.
Regards R. Linda!
Bitcoin - Crash to 50k in 2026! (Best cycles analysis)In this very detailed and unique analysis, we will look at the most important Bitcoin fundamental analysis of halving cycles. I predict Bitcoin will crash to 50k in 2026, so if you are buying now for the long term as an investment (buy and hold), you can probably wait for a better price!
Statistically, Bitcoin crashes every 4 years by 86% to 77%. The market cap is getting bigger as institutions stepping in, so this time I expect a weaker crash (around 65%). Still, it's a huge crash, and many investors will sell at a loss as usual. Knowledge of the Bitcoin cycles will save you a lot of money.
We are in the final stage of the bullish cycle, and this cycle should end between February and November 2025. When you draw a trendline on the linear monthly chart, you will get a target of around 125,000 USD. This is a good level to sell Bitcoin. I would never listen to moon boys that are screaming that Bitcoin will never go down and Bitcoin will reach 500k or 1M in the next months. That's due to an already big market cap, pretty much impossible. After we finish this bull cycle, we can expect a massive crash to 50k in 2026. For people who are prepared, this may be an incredible investment opportunity. Also, you can short Bitcoin at the top and ride the investment in the opposite direction, plus you will make money on funding fees every 8 hours.
Bitcoin halving is coded to occur once every 210,000 blocks, or roughly every four years, and will continue in this fashion until the final supply of 21 million BTC is reached. It is assumed that the last BTC will be mined in 2140. After that, transaction fees are supposed to be the only source of block rewards for miners.
Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEKHey Everyone,
Please see our updated 4h chart levels and targets for the coming week.
We are seeing ema5 and price play between two weighted levels with a gap above at 2785 and a gap below at 2747. We need ema5 to cross and lock above or below the weighted Goldturns to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2785
EMA5 CROSS AND LOCK ABOVE 2785 WILL OPEN THE FOLLOWING BULLISH TARGET
2811
EMA5 CROSS AND LOCK ABOVE 2811 WILL OPEN THE FOLLOWING BULLISH TARGET
2836
BEARISH TARGETS
2747
EMA5 CROSS AND LOCK BELOW 2747 WILL OPEN THE RETRACEMENT RANGE
2712 - 2668
EMA5 CROSS AND LOCK BELOW 2668 WILL OPEN THE SWING RANGE
SWING RANGE
2665 - 2633
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD WEEKLY CHART MID/LONG TERM ROUTE MAPHey Everyone,
Please see update on the weekly chart idea we have been tracking for over a month now and still playing out, as analysed.
Previously we stated that the channel top was continuing to provide support like we stated for the past few weeks and. as long as we see no ema5 cross and lock below into the channel, we can safely continue with our plans to buy dips in this range.
- This is continuing to play out perfectly. You can see although we had many breaks into the channel with candle over the last few weeks, ema5 failed to break inside, confirming the rejection and providing support above the channel like we stated.
Last week we stated that the bounce from the channel was playing out, as analysed and now heading towards our 2729 AXIS gap target above.
- This was hit perfectly completing this target. We now have a candle body close above 2729 opening long range/term gap at 2856 and will need ema5 lock to further confirm this.
This is the beauty of our channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD DAILY CHART MID/LONG TERM UPDATEHey Everyone,
Please see the daily chart update we have been trading and tracking for a while now, to give you all an overall view of the range.
Last week we stated that we have a candle body close above 2686 opening 2760 and we now also had ema5 lock to further confirm this gap
This was hit perfectly last week completing this target and allowing plenty of time after the confirmation to get in for the action.
We now have a candle body close above 2760 with a gap above at 2797 and will need ema5 lock to further confirm this.
We will use our smaller timeframe analysis on the 1H and 4H chart to buy dips from the weighted Goldturns for 30 to 40 pips clean. Ranging markets are perfectly suited for this type of trading, instead of trying to hold longer positions and getting chopped up in the swings up and down in the range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up using our smaller timeframe ideas.
Our long term bias is Bullish and therefore we look forward to drops like this, which allows us to continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Bitcoin’s Next Movement=>Symmetrical Triangle!!!On January 24, 2025 , the latest U.S. Flash Manufacturing and Services PMI data was released, revealing mixed signals about the economy . These indicators often influence market sentiment and could drive volatility in Bitcoin and others.
Manufacturing PMI : Rose to 50.1 in January from 49.4 in December, signaling a slight improvement in manufacturing conditions.
Services PMI : Declined to 52.8 from 56.8 , marking the slowest growth in nine months .
Potential Impact on Bitcoin( BINANCE:BTCUSDT ) :
The slowdown in the services sector may lead to increased market uncertainty, potentially driving investors toward alternative assets like Bitcoin. However, the modest uptick in manufacturing could offset some of this uncertainty.
Overall, Bitcoin might experience heightened volatility as markets react to these mixed economic signals.
------------------------------------------
Regarding the news of the last 24 hours that came in the crypto , the news has been positive as in the past days and weeks:
President Trump signs an executive order for a national Bitcoin strategic reserve.
SEC Eases Rules for Banks to Safely Hold Bitcoin and Crypto.
In general, from Donald Trump's inauguration until Trump's speech , the crypto market has been very excited , and we even saw a bull trap in the Bitcoin chart.
Generally, the news can affect the trend , but we must also pay attention to the technical zones on the chart .
------------------------------------------
Now, let's take a look at the Bitcoin chart on the 1-hour time frame .
Bitcoin is moving in the Resistance zone($107,300-$105,400) near the upper lines of the Symmetrical Triangle .
Educational Tip : A symmetrical triangle is a continuation pattern where the price forms converging trendlines of lower highs and higher lows, indicating market indecision. A breakout usually follows, signaling the trend's direction.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks .
I expect Bitcoin to once again decline to at least the lower lines of the symmetrical triangle . In general, if any of the lines of the symmetrical triangle are broken, Bitcoin can continue in the same direction .
Note: In general, the Volume Trading on Saturday and Sunday is low, and if Bitcoin fails to break the upper lines of the symmetric triangle in the next few hours, we can expect Bitcoin to correct to the first target that I specified in the chart.
Note: If Bitcoin goes above $108,520, we can expect Bitcoin to increase at least to Cumulative Long liquidation Leverage($111,053-$109,594).
Can Bitcoin make a new All-Time High(ATH)!? Please share your ideas in the comments.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Ethereum's Downtrend: Flag and Pole Pattern Set for Breakout...Ethereum is currently on a downtrend from the 4100 resistance level, forming a flag and pole pattern. The next strong support level is at 2800, where we could see a positive move arise from either a breakout of the trendline, support at the 2800 level, or both co-occurring. It's important to patiently wait for a signal before making any decisions.
Can we be optimistic that this will come true? You might wonder why altcoins haven't experienced significant growth compared to Bitcoin. The answer lies in meme coins, as they have caused substantial harm to the market. How many cryptocurrencies do we really need? So, focus on the primary cryptocurrencies in this market. In my opinion, everything is beautiful for the first time, so only pay attention to Dogecoin among the meme coins.
Can we be optimistic that this will come true? If it follows the triangle pattern, the price will rise by $60.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Spy - Path to 666Hello Traders,
At 2008 bottom the market hit 666 on the SPX. So now I am thinking 6666 on the SPX and 666 on SPY is like a magnet. Well I used the Fractal from end of last year and using fibs to make sure the levels were a match and guess what..It ends close to 666 in April this year. I have other things pointing me to April as a "top". So anyways lets see how this plays out.. According to the fractal we will go up till Wednesday (MAG Earnings and Fed Decision) then have a small drop before continuing higher.
Is 666 the final top? Well one one hand it would make sense as we are getting long in the tooth and for some reason they love that number. On the other hand I have cycles that are pointing to one more cycle later this year into summer.
But I would say if we do head up to that number I would be cautious around there and put more into cash incase we get a decent pullback so you can buy things when they get cheaper.
I was one of the few calling for more up when everyone was seeing a Head and Shoulder and saying we topped in December. I knew we had a least one more bull cycle if not two. Here we are at ATH again .. lets see how this plays out.
Nobody appreciates it !!!The price is currently at a important point, which in my opinion is bullish. There are two scenarios here: first, the triangle breaks upwards and reaches the target; second, the triangle breaks downwards to liquidate traders and then reaches the intended target.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
BITCOIN - Price can continue to move up inside wedge patternHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊
A few moments ago, the price declined to support level, after which at once bounced up to resistance area.
Then BTC started to decline inside pennant, where it quickly declined from resistance area to support area.
After this, price bounced from the pennant's support line, broke the $94200 level, and exited from the pennant pattern.
Next, price rose to $102700 points and made a correction move to $90800 points, after which started to grow in wedge.
In wedge, BTC rose to $106500 level and even rose higher, reaching a new ATH and then fell back.
Now I expect that Bitcoin can correct to support line of wedge and then rise to $112K, breaking resistance level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
GOLD → A U-turn? Medium-term targets. Up ahead, 2790FX:XAUUSD is taking advantage of the dollar correction and almost reaches ATH 2790. The chance of updating the maximum is quite high, but there are a few “BUTs”. Let's talk about the medium term and possible targets
Economically, the coming week will be quite important, there will be decisions on the Fed Funds rate , US GDP and PCE .
If the rate remains unchanged and the Fed's rhetoric is tough, this could put pressure on gold, a softer policy would support the metal, as would a slowdown in GDP growth if supported by actual data. PCE data may indicate that inflationary pressures remain. If the data is better than expected, it will strengthen the chances of further Fed rate hikes, which in turn will support the dollar and reduce demand for gold.
Technically, the price is heading towards 2790 and the chance of reaching this target is quite high, but the potential for further upside after breaking the resistance is not there yet as there is no energy to do so.
A strong move of 8% (since December 18) could easily be stopped by the resistance level ahead and gold could go into correction or consolidation
Resistance levels: 2790
Support levels: 2762, 2750, 2735
Overall, expected economic data points to support for the Dollar, which could put pressure on gold. Highlights for Gold are FOMC results and GDP data, as well as unexpected deviations from the forecast in economic data, which could change the current dynamics.
What to expect from the price? Most likely, after a correction to 2762 (liquidity zone), growth will resume and the price will head towards the most important target at the moment - 2790. The one and a half month rally may end with a false breakout of 2790 and the beginning of correction. I am not talking about the trend reversal yet, as we should follow the market reaction to the general situation.
Zones of interest within the correction may be several local and several global zones:
Local targets (if bullish): 2762, 2735
Medium-term targets (if trend change is confirmed): 2714, 2689, 2643
Regards R. Linda!
LINK is bullish now and many Traders don't see it !!!You might wonder why altcoins haven't experienced significant growth compared to Bitcoin. The answer lies in meme coins, as they have caused substantial harm to the market. How many cryptocurrencies do we really need? So, focus on the primary cryptocurrencies in this market. In my opinion, everything is beautiful for the first time, so only pay attention to Dogecoin among the meme coins.
Technically, the cup and handle pattern has broken, which indicates a price increase. The price can easily reach the target . If we measure the AB range, which is $17.5 , we can say that the price will easily grow $37 equal to CD.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Gold can rise a little and then drop to support levelHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price made an upward impulse from the support line of the triangle and rose to the resistance line, breaking the support level, which coincided with the buyer zone. Then Gold turned around and made a correction movement to the support level, where it some time traded and then rebounded up from the support line of the triangle. Price rose to the current support level, thereby exiting from the triangle, and then started to decline inside the wedge. Gold fell to the support line, which is located in the buyer zone, and then started to grow. In a short time, the price broke the 2615 level, after which made a correction to the support line and then continued to move up. Later, Gold rose to the resistance line of the wedge and broke it, thereby exiting from the wedge pattern and then in a short time rose to the current support level. Soon, the price broke this level and continued to move up next. So, I think that Gold will make a small move up and then drop to the support level. That's why I set my TP at 2725 level. Please share this idea with your friends and click Boost 🚀
best tips and strategies to avoid losing money while trading solTrading Solana meme coins (or any speculative assets) can be risky, but there are strategies you can implement to reduce the likelihood of losing money. Here are some tips and strategies:
🔸### **1. Perform Thorough Due Diligence**
- **Project Research**: Investigate the team, roadmap, and purpose of the meme coin. Look for transparency and active community engagement.
- **Smart Contract Audit**: Verify if the project’s code has been audited by reputable firms to rule out vulnerabilities or malicious intent.
- **Tokenomics**: Understand the coin's supply, distribution, and vesting schedules to assess inflation risks.
- **Liquidity**: Check the total locked liquidity and if it's controlled by trusted third parties (like in a locked contract).
🔸### **2. Be Cautious with New Listings**
- **Avoid FOMO**: Don't jump into a token right after its launch due to hype. Often, prices spike initially and then crash.
- **Verify Listings**: Ensure the coin is listed on reputable platforms like CoinGecko or CoinMarketCap and recognized by reliable exchanges.
🔸### **3. Use Risk Management**
- **Position Sizing**: Only invest a small portion of your portfolio in highly speculative meme coins, such as 1-5%.
- **Stop-Loss Orders**: Set stop-loss orders to automatically sell your coins if the price drops to a certain level.
- **Profit-Taking**: Use a systematic approach to secure profits, such as selling a portion after the coin gains a specific percentage.
🔸### **4. Avoid Projects with Red Flags**
- **Anonymous Teams**: Be cautious of projects with unknown or unverified developers.
- **Low Liquidity**: Avoid coins with low trading volumes or liquidity, as you may not be able to sell without affecting the price.
- **Over-Promises**: Be wary of projects that make outrageous claims, such as guaranteed returns or revolutionary technology without proof.
- **Excessive Marketing**: Projects focusing more on memes and hype than utility are often short-lived.
🔸### **5. Check for Rug Pull Indicators**
- **Owner Privileges**: Analyze the smart contract for owner permissions that allow for token minting or draining liquidity.
- **Liquidity Lock**: Ensure the liquidity pool is locked for a significant period (e.g., 6 months or more).
- **Token Distribution**: Avoid coins where a single wallet holds a large percentage of the supply, as this indicates a risk of dumping.
🔸### **6. Use On-Chain Analysis Tools**
- **Explorer Tools**: Platforms like Solscan and Solana Explorer can help analyze token distribution, liquidity, and transactions.
- **Rug-Detection Tools**: Use services like RugDoc or Token Sniffer to evaluate the safety of the project.
- **Social Analytics**: Monitor community activity on Discord, Telegram, or Twitter to gauge organic growth and sentiment.
🔸### **7. Diversify Your Investments**
- Don't put all your money into one meme coin. Spread your risk across multiple assets, including more established cryptocurrencies.
🔸### **8. Stay Updated on Market Trends**
- **News Awareness**: Follow Solana-related news and updates, as ecosystem changes could impact meme coin performance.
- **Whale Activity**: Track large transactions in meme coins to anticipate potential dumps.
🔸### **9. Protect Against Scams**
- **Phishing Attacks**: Be cautious of fake websites, wallets, or social media impersonators.
- **DYOR (Do Your Own Research)**: Verify all information independently before taking action.
- **Secure Wallets**: Use reputable, non-custodial wallets like Phantom or Solflare to store your meme coins securely.
🔸### **10. Control Emotions**
- **Avoid Emotional Trading**: Stay rational and stick to your strategy, even during extreme volatility.
- **Know When to Quit**: If you’re consistently losing or the market becomes unpredictable, step back and reassess.
🔸### **11. Use Decentralized Exchange (DEX) Safely**
- **Verify DEXs**: Use established platforms like Raydium or Orca for trading.
- **Slippage Settings**: Adjust slippage tolerance to avoid unintended price impacts during trades.
🔸### **12. Learn from Past Mistakes**
- Keep a trading journal to track your decisions, evaluate outcomes, and refine your strategies.
🔸### **13. Avoid Leveraged Trading**
- Avoid trading meme coins with leverage, as their inherent volatility can amplify losses.
🔸By implementing these strategies, you can reduce your risk and make more informed decisions while trading Solana meme coins. Always prioritize risk management and long-term sustainability over short-term gains.
MOASS: WC: 27.77 Target: 1800-2400 MOASS: 47k-100KHey everyone
Had issues uploading to Tradingview so posted directly to my Youtube channel
youtu.be
Timestamps:
The Cat: 0-2
Yen Trade: 2-3
SPX: 3-12
How I'm Trading This: 12-22
GME Price Post MOASS: 22-28
GME Next Major Dates & Moves: 28-48
Next Week: 48-52
Cohen and The Cat's Next Tweets/ Outro: 52-53
BITCOIN - preparing for something great!on 12H chart btc showing a consolidation of bullish pennant pattern.. Breaking it will provide a massive push to break the larger megaphone pattern.
The chart also shows a hidden bullish divergence on the RSI indicator.
Bitcoin is now on its way to retest its previous high at $109K, and if it successfully breaks through, the price is expected to surpass $125K.
Best regards Ceciliones
The last bullish chance of SONIC in short term!This could be Sonic's last bullish chance. If Sonic cannot hold the critical support at 0.50, the price will drop below 0.47. However, if it successfully breaks the wedge, it could rise to 0.57.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Band to print 6000% move to $90Price action has corrected over 90% on the above 16 day chart since early 2021. A number of reasons now exist for a bullish outlook. They include:
1) Price action and RSI resistance breakouts.
2) Support on past resistance, look left.
3) That bull flag forecasts a 6000% move and more to $90.
Is it possible price action continues downtrend? Sure.
Is it probable? No.
Ww
Type: trade
Risk: you decide
Timeframe for long: Yesterday
Return: Lambo
XAUUSD weekly From a technical perspective, the emergence of some dip-buying on Thursday and the subsequent move up validate a bullish breakout through the $2,720-2,725 supply zone. That said, the Relative Strength Index (RSI) on the daily chart has moved on the verge of breaking into overbought territory, making it prudent to wait for some near-term consolidation or a modest pullback before positioning for further gains. Hence, some follow-through momentum is more likely to confront a stiff hurdle near the all-time peak, around the $2,790 region.
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