Gold Spot (XAUUSD) Likely To Break Below Support... ($1690)

GoldOANDA

Description

⋅ Sep 24, 2020 12:23 AM

Gold Spot (XAUUSD) is now testing the ~$1850 support level... This level is likely to fail.

Our focus goes to cryptocurrency, Bitcoin but mainly Altcoins...
We are seeing Gold, BTC, and the SPX moving in many similar ways.

Here XAUUSD is testing a support level that is likely to break.

On this correction/drop, we are likely to see $1690 as the final support level before more up...
We have chances of seeing higher prices right away but I don't think this is how things will go.

We will have a very nice/strong correction for a few months and then Gold, Cryptocurrency, Bitcoin, and the Altcoins will again move up strong.

Namaste.

Trade closed: target reached

⋅ Mar 18, 2023 3:08 PM

Sept. 23, 2020 | "On this correction/drop, we are likely to see $1690 as the final support level before more up..."

Gold bottoms at $1,676 March 2021 and starts a new bullish cycle.

Comments

sriz16

⋅ Sep 24, 2020 12:48 AM

So it seems like bitcoin follows gold ? Let it correct , always bullish on bitcoin .

Om Shanthi -
decentralised is for everyone , screw those banks .

Thanks for the info :))

AlanSantana

⋅ Sep 24, 2020 1:10 AM

@sriz16, My pleasure.

I am also tired of the banks and their discrimination... It is off the charts.

About Bitcoin and Gold, it is not that Bitcoin follows it but they have been correlated lately.

We can use this information as a signal but we can't really trade, conclude or decide anything based on it, just an additional data point.

aa9094533

⋅ Oct 1, 2020 4:04 PM

Thanks sir

Saeed966

⋅ Sep 24, 2020 9:20 PM

thanks for sharing! this is what I see on XAUUSD:

AlanSantana

⋅ Sep 24, 2020 9:29 PM

@Saeed966, Pretty good... Exactly.

Saeed966

⋅ Sep 24, 2020 9:20 PM

Good job

Wolf_of_Trading

⋅ Sep 24, 2020 4:47 AM

Thanks for sharing , you can click 'PLAY' for my idea