anand1988

anand1988 Updated 

Looks like a fake impulse to the downside, double bottom (W) forming on weekly chart. Divergence indicator surely says BULL is hiding! GOLD in huge trouble.

anand1988

As indicated in my previous analysis, M Formation setup on the Monthly chart will give correction and then new impulse leg towards the downside.

anand1988

High impulsive action noted last couple of weeks and even before that. Expecting short covering on based on the volume gathering from low to the high towards the order block. Also M formation spotted on Monthly chart seeking correction from the impulse towards the neckline and once the formation completes, we expect a solid move to the downside towards early...

anand1988

This is happening first time since 1 June 2018. Long term downtrend is forming. Bulls are taking a breather and giving throne to bears until further notice.

anand1988

Gold is retesting 50DMA Bear breakdown at 1822.83 level. Which also many analysts are pointing from last 2 days is an important level. Also MACD signal line is crossing MACD line on Monthly Candle! That is a big 🐻 news because it will note that a new long term downtrend is forming in Gold. Tagged as Short as 1822.83 looks a good level to short.

anand1988

GOLD in huge trouble. Longs have been closed by big players and shorts has been open as per the CFTC latest report issued just now. Net longs.now 235k from 251k last week report. Target in Red

anand1988

What would you follow? Looks like an awesome double bottom to long but same time we have a death cross between 50dma and 200dma after so many months and years.

anand1988

the most important area since the ATH till today- $1862

anand1988

50DMA saved again on Weekly candle, however it signalled a breach after long long time and its a concerning signal. Waiting for the completion of M formation.

anand1988

Since 16 Mar 2020, today it is the 4th time that price has touched 50DMA, so if it closes below the 50DMA we understand the beginning of a new downtrend. Same for the trendline drawn from 1450.

anand1988

Today we had 2nd Death Cross in a single day. On 1Hr, 50MA intersects down both 100MA and 200MA. 200MA is the recent most one at 1855. Monday Asia & Eu will kill it.

anand1988

There was a death cross formation on 1HR which signalled downfall and is the result of the price now. What a clear signal of Short. Weekly close will determine BUY or SELL signals for next week as it will signal Inverted Hammer or Shooting Star formation.

anand1988

So as of today, 'All Candlestick Patterns' indicator shows it as a Shooting Star, but looks like an Inverted Hammer to me. XAUUSD's this Week candle may form a Bullish signal if it remains the same as it looks right now, i.e. Long Wick with Small Body. Expect the price to rise with next weekly candle which will fill the long wick of this week candle. Also make...

anand1988

We can see bearish divergence (price action upwards, RSI downwards) however RSI is in strong position so that is an issue, waiting for reversal signal as it is overbought.

anand1988

on Golden Cross under creation on DXY! so a good shorting opportunity at 1.227-1.226

anand1988

Looks like Bearish Divergence on 4H formation

anand1988

Inverse h&s spotted in US Oil + we have bull flag formation for upward trajectory. Indicators also note upward trend and technical pattern.

anand1988

Haha chart says it all! Bearish engulfing daily stick 2000s ha? How about 1800s??