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Gold-trading

GOLD, Double Top Formation Forming, Bearish Pressure Will Enter!Hello Traders Investors And Community, welcome to this analysis where we are looking at the 4-hour timeframe perspective GOLD chart, the recent events, the current price-structure, and what we can deduce from it in order to profit out of possible outcomes. The last week's almost all global markets have been in a recovery to the upside since the corona-breakdowns saw this year but as real economy data is telling us the up moves aren't fundamentally backed besides that the market is building up a big bubble where retail investors opening accounts to participate in the market recovery and looking for demand pushing the price higher, on top of that smart-money is staying out of the rally and on the sidelines which are building up a high speculative environment that can be driven by retail investors and therefore not strong enough to hold on sustainable. You can watch in my chart an asset which currently is highly valued near its all-time-high which does not mean the asset has no value but it means that the environment is overbought which is also confirmed on the higher timeframes, furthermore GOLD is currently building a double top formation which you can watch in my chart and which provides a high possibility to show bearish pressure to the downside when confirmed, this will happen when GOLD crosses below the neckline at 1790 you can watch in my chart when this scenario happens the minimum target at 1770 you can see marked in green will be activated, this will only be the minimum target from the double top formation which does not mean GOLD can fall more to the downside after these targets will be reached we have to see and examine if GOLD can recover or continue its journey. This is currently the short-term perspective which does not mean GOLD is not bullish on the long run but there are some high possibilities to confirm bearish for GOLD not only why we have a highly speculative environment in stocks and also in other assets like GOLD this can lead to supply entering the market which can increase when a possible second wave enters the surface which can affect the environment similar to the down moves seen in march this year. There are many people telling the bear market has already ended which is a mere illogical approach at the moment and can prove fatal in the long run as there are still technical as well as fundamental signs which can invalidate the bullish scenario, therefore, it is important to be prepared when bearish signs not only show up in the short-run but also in the middle and long-run. In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you! The Mind of a trader is the most significant tool to succeed in today's markets. Information provided is only educational and should not be used to take action in the markets.
TVC:GOLD
by VincePrince
11
GOLD The past week started with the price retesting the asymmetric triangle formed during almost a month of consolidation to then skyrocket into a new high. This has been a great move filling up the pockets of the ones who played the breakout. Now the question is..., where are we heading from here? When looking at the Monthly, Weekly and Daily Gold is clearly in an uptrend with the 200, 50 and 21 MA perfectly aligned. Price is still within the red zone which represent a strong resistance zone. A clear break above 1750$ might suggest an extension move into the mid 18 hundreds. However a fail to close above the 1750s brigs back the possibility to target the low 1600s as the harmonic suggests. Gold is giving out great trading opportunities have fun with it ;)
FX:XAUUSD
by TheTechnicalAnalysts
GOLD LONGGOLD TIMEFRAME : DAILY My analysis on GOLD goes the following. GOLD is currently sitting at 1515 which is a t a very strong resistance. I expect GOLD to reject 2515 and fall to create a H,L before creating new H,H. MY long term analysis does show me 1610 area and I do expect GOLD to reach the 2019 YEARLY highs by the end of January. We are currently shorting GOLD till 1492, and this might be the last dip before GOLD creates that H,H. Please remember to use proper risk management, and ENJOY your holidays. #MARKETCONTROLLER2020
FX_IDC:XAUUSD
by itsdonvo