This is textbook contraction and expansion strategy with 4 triggers and now the market is perfectly settling above the middle line with a buy setup so you can either wait for the market to break before going long if you are a conservative trader or you can buy it now and ride out the corrective pattern is you are an aggressive trader! Make sure you use your own...
We held our long view at the beginning of June despite the pullback in Gold prices and the precious metal has since rebounded to continue it's 2020 uptrend. The continued global economic uncertain caused by the coronavirus in particular in the US which has been heavily affected leads us to believe there will be strong demand for gold as a safe haven in the coming months.
Looking at the weekly time frame gold looks like its in a upward wedge heading to 1862 before next pull back
I am seeing a break of 1800 now being soon all previous resistance levels are now showing as poor as the yellow metal makes its claim to beat the previous highest high, I cannot see now any reason to stop it, 1900 not far off
Hello Traders! Please support this idea with a LIKE if you find it useful. AUD/USD , 2H. My telegram channel
To update my previous chart and allow for moving from fractal copy to fractal expansion, I can see more north bound projection 1800 should see some pull back but not the 100's of points most talk about, then a further push north
I'm expecting Gold to keep pushing up from where it is now, but it first needs to pullback to a minor level of support.
Likes and comments if you want more trading setup. Thank you! Visit our channel! The price has reached the support. He responded positively to the support by forming a pin.
gold showing its coulours as the safe haven just not as most wanted, I am seeing some downside projection, but its more correction on its touch of 1742 so many times, now the required pull bk to grenerate the momentum forward to force gold through 1742 to the 1800margin is being seen
Price is currently reaching a make or break area. The double top formation on the 4 hour chart suggests further downfall however it ultimately comes down to NZD economy vs USD economy. NZD reported the nation is COVID-19 free which is promising for the NZD whereas the US-China tensions are likely to escalate. Ultimately the MACD has crossed on a 4 hour timeframe...
The strong performance of equity markets in the past few weeks has impacted gold prices despite record levels of QE and rate cuts by global central banks. However, we still have a long view on the precious metal due to fears of a second coronavirus wave and that equities have recovered too quickly and could well give up some gains in the coming weeks. Both these...
Please view chart below to see the full reasoning about this chart, there is not much to be said here as going from the long term view sort of just confirms my views
For Gold we have a textbook bullish Wolfe Wave with target 1751. Next re-entry would be around the H1 50 SMA which is now around 1713.
Inside a strong channel. We have a good support line. From it, the price will go up to the resistance line. Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
If he can build over 1730 on 4 h a green bar, be ready for take off
Gold continues to rise after it consolidated back above long term support above $1560 back in March on the back of FED rate cuts and the continued uncertainty and impact on the global economy of the coronavirus. Additionally, it is the safe haven of choice for investors and we expect it to also rise further due to the renewed trade war tensions between the US and China.
This is a combination of Yuriy_Bishko , Conotoxia and my ideas. I hope it`s useful
From the beginning of the week Gold has captured liquidity from the 1730 level, i wanted it personally to get a bit lower towards 1722-1725 level before entering which was not far from the 1727 level it reached. For the rest of the week I expect for Gold to keep raising up towards the 1780-1800, be aware that price has been rejecting a little the 1750 where it is...