GOLD H4 LONG FORECAST ANALYSIS

GOLD PRICE ACTION HAS BEEN CONTROLLED BY THE BULLS FIGHTING ITS WELL-KNOWN SAFE HAVEN PROPERTIES WITH THE #DXY AMID THE CURRENT MARKET CONDITION DUE TO "PLANDEMIC". ANYHOW, IN D1 MACD IS SHOWING A DIMINISHED BULLISH MOMENTUM TOGETHER WITH THE COMPRESSION OF THE PRICE ACTION. GIVEN NICE ENTRIES EVERY TIME THE PRICE BREAKTHROUGH THE FLAG FORMATIONS. HOWEVER, RIGHT NOW THE STARS DON'T LOOK ALIGNED, BUT PRICE ACTION IF FINDING AND END FOR THE SQUEEZING GETTING CLOSE TO SHOW NEW TRADING OPPORTUNITIES.

WHEN CHECKING AT INTRADAY TIME FRAME H4, FOR INSTANCE, PRICE ACTION IS STILL SHOWING BEAR PRESSURE, TESTING ALREADY SUPPORT LINE FROM THE FLAG AND ALSO IN CONFLUENCE WITH A STRONG DEMAND ZONE. MACD TRYING TO FORM A BUY SIGNAL ENTRY WITH A DIMINISHED BEARISH BIAS IN GENERAL. BUY-STOP ENTRY WITH A S/L AT 160 PIPS STILL GIVE ENOUGH ROOM FOR A R:R|1:2.4 AIMING THE T/P LEVEL RIGHT AT THE RESISTANCE LEVEL FROM OCT 2012.

LET'S BE PATIENCE AND KEEP A CLOSE EYE ON THE YELLOW METAL, LET'S CAPTURE THAT COMING BREAKOUT PROMPT TO HAPPEN.

Order cancelled:

Gold fighting sellers pressure as easing lockdown keep the rally in the #StockMarket, investor appetite towards risky assets is dimming the shine from gold together with its safe-haven properties. Pushing price action to break to the downtrend testing the 1,700 handle (strong support level), long entry was not triggered.