AndeWave

AndeWave

Local timeframe. 29 November. 1) Gold is in the range and is not going to fall yet 2) The fifth Elliott wave is forming (presumably). 3) Price is forming a Triangle pattern in an uptrend. I think the growth will continue 4) I expect that from triangle resistance the price may fall to support, as above 1755 is a heavy zone due to volume 5) A breakdown of...

AndeWave

1) Gold is still in the 1765-1729 range. 2) The reversal pattern indicates that there are bulls in the market 3) The bulls continue to press the price and form a new support level of 1739 4) Price tends to 1765 5) The opening session was far from resistance, so I do not expect a breakdown of the level today 6) Indicators are pointing to strengthening bullish...

AndeWave Updated 

Let's look at the hourly timeframe and the local situation 1) Gold tends to the local resistance. 2) From low to resistance, gold may use up all of its energy (not enough energy to break through resistance) 3) Resistance range falls on a zone of increased volume (heavy zone) 4) A break-down of the resistance zone of 1763-1766 may provoke a strong momentum towards...

AndeWave

Hello! Let's take a look at the daily gold on November 28. 1) We see a continuation of the rise 2) Gold has been rising since Monday to 1765 3) Price is still in 1765-1729 range. 4) A strong rise to 1765 may not allow a breakout of the level (not enough energy). The priority is a bounce back down. 5) Global trend tends to be bullish 6) We see a market rebuild 7)...

AndeWave

Gold on 28.10.2022 Getting ready to open the session on Monday. 1) Gold moves into range and heads to test resistance. 2) The far bar makes a false-break of the low and the high of the previous day. 3) At the same time, Friday closes below the open, but above the open of the previous day, which tells about Friday's uncertainty, but most likely, under the...

AndeWave

Hi! Let's take a look at the lower gold timeframes 1) Gold in the 1764-1727 range 2) The price does not pass through the density zone of 1760-1765 and goes down 3) The retest of 1754 level is formed, in relation to which the "Head and Shoulders" pattern was drawn earlier. 4) Breakdown of the level of 1754 upwards will open the potential and strong momentum...

AndeWave

Hello! Let's look at the daily chart 1) Gold in the range from 1729 to 1765 2) Preliminarily, the correction is over in the 1729.5 area, three bullish candlesticks are forming. 3) Positive fundamentals are pushing the price up 4) RSI is above the 50 line 5) Price is between the increased volume zones of 1763-1740 (Price may stay in this range for a while) ...

AndeWave

Hi! Let's take a look at the lower gold timeframes 1) Gold is in a narrow range of 1764 - 1726 2) Key resistance 1764 plays a major role on price behavior 3) It is possible that the price cannot break through and starts to pullback, in which case it will tend to fall to the lower boundary of the range 4) Rising is possible if the price breaks through 1764 and...

AndeWave

Hello! Let's look at the daily chart What changes over the past 24 hours? 1) The price makes a false break of the key support 1729.5. 2) After the false impulse an impulse is formed and it continues today 3) Ichimoku turns into the green zone and forms a new ascending breakout 4) The price reaches the 0.618 Fibonacci zone and reverses What should we expect? 1)...

AndeWave

Hi! Let's take a look at the lower timeframes of gold 1) The price forms a local consolidation after the retest of support 1734. If the price enters below this zone, a surge in volumes and a decline in price to the key Fibonacci points of 0.618 and 0.5 is possible 2) On the daily timeframe, the price is squeezing the support, which indicates the players'...

AndeWave

Hello! Let's look at the daily chart Prerequisites for the continuation of the fall: 1) Correction after false breakdown 2) Consolidation and price pushing up to the level of 1729.5 3) The key zone of order accumulation near the density of volumes 1707 4) New candlestick updates the low after yesterday's bullish close 5) The price is in a range, the movement is...

AndeWave

Hello friends, let's talk a little about gold, shall we? With you Natalia!) We see the formation of the pullback to the higher volume zone 1760, which can be the starting point to the support consisting of two key Fibonacci levels - 0.618 and 0.5 The key factor for the fall is a false-break or another type of resistance testing at 1760. In case of an impulsive...

AndeWave Updated 

Hello traders) I would like to share my view on the gold market) My name is Natalia) I want to draw your attention to the price pullback. The reason is the weakening of dollar index and softer view of the long positions from the side of investors Below the price is the key area. See the volume profile and the Fibonacci indicator. The 1721-1701 zone may help push...