Goldspot
GOLD: DOUBLE HARMONIC BAT PATTERN IN D1 TIMEFRAME! 🔔Welcome back Traders, Investors and Community!
Analysis of #XAUUSD GOLD
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Strategy: Bearish BAT With potential Max R/R 2.09 - We will be waiting for all the confirmations to enter in this trade.
A clear chart is Always the best business card for a trader.
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Your support and feedback will always welcome
Thank you for your time.
The information contained herein is not intended to be a source of advice or credit analysis
Regards,
Walter
What is the Future for the Gold Spot?The Gold spot has started to fall from the 6th of August 2020 and still falling. But it's moving downside with fluctuation in trend. It started to rise for a short period from the 30th of November 2020. And now, the trend will fall up to hurdle by crossing 1876 - 1872 . After the breakout of the hurdle( 1872 ), the trend will hit 1866 - 1860 .
But if the trend takes reversal from the hurdle and crosses the resistance, it will hit the following levels 1900 - 1906 .
I am bearish on GOLD WEEK OF 14TH DEC 2020I am bearish because, the pattern shifter over after hitting the 1875 area of support and reversing abruptly.
The potential area of bounce or TP1 and TP2 Zones are the marked rectangles.
Keep an eye on the false breakout area. It is possible but not mandatory.
GOLD Futures projectionThere has been 2 previous swings in Gold from the 50 weekly ma (Orange line), This looks like the 3 Swing IMO
According to the previous data this swing should be shorter in time than the previous 2 and may last between 60 to 85 days
Target area should be around +35% to +50% = $2400/$2700.
The trend is up and the fundaments haven't change at all. money printing and low interest rates.
GOLD - See What These Gann Fan & Fibonacci Retracement Value SayHere, I have used Gann Fan & Fibonacci Retracement to identify the next move of Gold Spot. Wherein, it is taking reversal from the 0.5 retracement value (highlighted by green square ). And now it's running under 3/1 & 4/1 Gann Fan value.
According to this chart, gold will keep drilling upward up to $1940 . After that, it can fall for 0.382 value of retracement. And a breakdown of this retracement means $1900 waiting ahead.
Overall we can see a bullish trend. That can be for $1960 - $1976 levels before Nov end.
Gold Hits A New All-Time High... $2461 Next Target!I've been buying Gold... Not on the computer but real physical gold.
Gold Spot (XAUUSD) hit a new All-Time High this month surpassing the peak hit back in September 2011... Wow.
I had this feeling/voice in my head in "repeat" saying "Buy gold, buy gold, buy gold, buy gold..."...
My God relax... Bought.
Anyways, I bought some gold, went back, and bought more yet there is still the feeling that I need to purchase even more.
This thing is going parabolic now so technically there can be a retrace soon... But this "soon" can be months or years...
But ignoring TA, I am getting the feeling that Gold will be $4,000 in just 1 or 2 years (this is not financial advice and just my own personal feeling).
Looking at the conventional markets and the economic meltdown that is due to take place, fiat printing at All-Time Highs... This is something completely possible.
I predicted the $1920 Gold price just a month ago... You can see the chart below:
June 19 | Gold Spot (XAU) Goes With The Bulls/GREEN ($1920 Possible)
And now, looking at TA, this is my next target as to where the price for Gold Spot will go... $2461...
Thanks a lot for your continued support.
Namaste.
XAUUSD AnalysisThe gold spot value has created a kind of channel or flag formation.
It may fall to 1679.876 price level because gold spot has been overbought and the U.S Dollar will definitely gain currency strength this week since the U.S Index has its reached support level.
So price may move up and down within the channel created or may break out at the upper side if its truly a flag formation.
XAUUSD Update: Quick scalp for Short then Rebound from Support!!At the moment we can see the 0.382 Fib level establishing itself as a formidable resistance level, with a rejection at this area by XAUUSD bringing it down to the 0.236 Fib level, where some consolidation might occur here before continuing its downward journey to the WHITE main support line @ 1695 area.
On the whole, we can see clearly from the H4 Time frame the formation of a descending triangular wedge, with the green line as the top.
Our opportunities for the next few days, to watch for:
- QUICK SCALP SHORT to the bottom, taking profit before the white support line @ 1695
- Watch for reversal confirmation at the white support line, an H1 or H4 bullish reversal pattern, before a BUY entry with target @ 0.382 Fib level @ 1718 for retest again
- It is possible XAUUSD rebound might not get past 0.382 Fib, but if it does, we aim for BUY TARGET 2 @ 0.5 Fib level which coincides with the top of the triangle wedge at 1727. I expect this level to post a formidable resistance for GOLD SPOT XAUUSD to overcome.
Economic sentiment is rapidly going towards the bull side, I would expect some drop in gold prices in the short term at least!
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Best Regards,
GOLD D ROGER