This analysis incorporates the GOLDontheNILE strategy, using Ichimoku Kinko Hyo, Chikou Span, Fibonacci levels, Bollinger Bands, Stochastic RSI, and volume dynamics to provide a comprehensive outlook across multiple time frames. It integrates higher time frame trends with actionable intraday setups. Daily Chart (1D) Analysis Outlook: Bearish Consolidation with Key Resistance
- Trend: Downtrend intact with price hovering below key Fibonacci 61.8% resistance at 2,610.00. - Indicators: - ADX: Strong trend with value at 83.48, favoring bearish continuation. - RSI: Neutral at 35.33, approaching oversold but without divergence signals. - Ichimoku: Chikou Span remains below the cloud, confirming bearish dominance. - Volume: Elevated bearish volume supports potential downside acceleration. - Key Levels: - Resistance: 2,610.00 (Fibonacci 61.8%) and 2,630.00 (upper resistance). - Support: 2,578.00 (pivot support) and 2,554.00 (Fibonacci 50%).
- Ichimoku Alignment: Bearish across all timeframes, with Chikou Span and price below the cloud. - Fibonacci & Resistance Levels: Strong confluence at 2,610.00 and 2,596.00. - Volume Profile: Bearish dominance with weak retracement attempts. - Multi-Timeframe Consistency: Daily, 4H, and lower timeframes all align toward bearish continuation with intraday pullback opportunities.
Mohamed
THE Ichimoku MAN on the Nile
#traders4traders
you are welcome to join my Telegram channel, Ichimokuonthenile.
for GOLD follow this link: t.me/GOLDontheNILE youtube youtube.com/@ICHIMOKUontheNILE
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.