GOLD ranging...and UP AGAINAs I said last weeks since March 21..after 4 months in which all my analyzes about GOLD were almost perfect, GOLD arrived in the 1920 area as I predicted 4 months ago ... it rejected until the 1970 area as can be seen from my analysis last week and the climb to 1920 started again!
If he rejects again from that area ... I think there will be a massive descent on the GOLD until the area 1830 or even 1774
THIS WEEEK...even though I had many objections and many messages of disapproval ... as I said GOLD went down even below the 1774 area and now it is at the Fibonacci level 0.5 from where I expect it to reject and rise again towards 1836 and from there DOWN AGAIN to level 618!
however ... a closure even for 1 day below 1754 will make me think of SELL until 1688!
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Goldidea
Gold is looking long beyond expectation In the monthly time frame, gold gives a clear pattern rounding bottom, which is a big bullish pattern for a far long target. It has given breakout and retested the breakout level. Now it is amazing to see the bullish move from here. We can also see the bullish move from 1800 or some below the level in the weekly time frame. If this happens we can expect the first target at 2440 in the next 1-1.25 year and the next target at 3300 in the next 2-2.5 yr.
This could be a very good long-term investment in gold as we could have some big target of return of money in future
Trade not recommended
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XAUUSD (Signal) for June 15, ISTThe Decreasing Momentum and Rising Inflation.
Gold is Expected to be Down Today. (June, 15, 2021)
The Rising Inflation is the killer for Gold Price Action Momentum.
This is the Reason of Depletion of Momentum.
Traders are in Extremely Fear Sentiment.
The Current Momentum is suitable for Scalp Traders.
Currently t the Time of Writing Price Action is lying in the pivot range.
Overall Strength Bearish.
Expected a 1.20 Dollars Up from the opening and 6.00 Dollars Down from the Opening or from the 1.20$ Up to Down 6.00$.
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GOLD Analysis.Hello Traders.
Hope all are doing well.
I have observed the potential wealth creator trade in gold.
I see a clear down trend for short time trade and we can enter the market in a pritty good risk to reward.
as per analysis Point 2 is considered as Stop loss & Point 3 as Target.
As you can see in the analysis.
If any questions please text me up.
Regards.
GOLD ABOVE THE TREND LINE and ABOVE 70 RSIAS gold above the trend line if continue traded above 1880-1890 level than we expect a move toward 1965
as we see 1878 is the resistance level it test multiple time and came down and now it around that level if traded above we expect good move
RSI ABOVE 70 ALSO GIVE A STRONGE APPROACH TOWARDS MARKET
Gold battle between buyers and sellersFor the past two trading weeks gold was trading within confined range and unable to break on either side 1795,1760 was acting as strong barrier.Kindly watch the break out/down for potential buy/sell Upper side target would be 1815 and on downside immediate target would be 1750.
💡GOLD (XAUUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 1744.50, resumption of uptrend is expected.
We make sure when the resistance at 1790.00 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1744.50 is broken.
Technical analysis:
There is a divergence in RSI and price between the trough at 1676.7 on 2021-03-08 and the trough at 1677.8 on 2021-03-31, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
A trough is formed in daily chart at 1677.80 on 03/31/2021, so more gains maximum to Major Resistance (1790.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 60.
Take Profits:
1762.55
1828.25
1875.15
1959.30
2075. 05
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