Gold Has Reached The BUY ZONE - Buy Now Before It Goes Up Again
In this technical analysis I will discuss in-depth how you can prepare for some gold trades this week.
From my previous ideas you can see why I decided to add certain horizontal levels to the chart and how to use them. You might also have seen that I have been quite bullish on gold and that I was surprised how much it has dropped recently.
That's why this time I am doing things slightly differently. Instead of highlighting a specific price zone, I am highlighting the entire area between $1750 and $1800. This is a zone where the price might fluctuate but if you can still get a buy in anywhere here (obviously the lower the better) you'd be in a great position for the coming week.
If you buy anywhere in this zone I'd say you probably got a great price for Gold. Knowing you can buy it now at between $1750 and $1800 while it has been $2080 just recently seems like a great deal.
The price of gold is already moving upwards if you look close on the 1h and seems to get close to the first zone of resistance. This will be a major test to see if the bulls are strong enough to push gold up again or whether the bears prevail and we test the $1750 levels once again.
In any case I this retracement as a fantastic buy opportunity. And if you're in doubt because you see the negative sentiment on the lower timeframes, make sure to zoom out one time and look at the gold chart on the weekly or monthly time frame. You'll see that on average it has a great tendency to go up over time, so a retracement this big I think is a great buy opportunity.
-Trading-Guru
From my previous ideas you can see why I decided to add certain horizontal levels to the chart and how to use them. You might also have seen that I have been quite bullish on gold and that I was surprised how much it has dropped recently.
That's why this time I am doing things slightly differently. Instead of highlighting a specific price zone, I am highlighting the entire area between $1750 and $1800. This is a zone where the price might fluctuate but if you can still get a buy in anywhere here (obviously the lower the better) you'd be in a great position for the coming week.
If you buy anywhere in this zone I'd say you probably got a great price for Gold. Knowing you can buy it now at between $1750 and $1800 while it has been $2080 just recently seems like a great deal.
The price of gold is already moving upwards if you look close on the 1h and seems to get close to the first zone of resistance. This will be a major test to see if the bulls are strong enough to push gold up again or whether the bears prevail and we test the $1750 levels once again.
In any case I this retracement as a fantastic buy opportunity. And if you're in doubt because you see the negative sentiment on the lower timeframes, make sure to zoom out one time and look at the gold chart on the weekly or monthly time frame. You'll see that on average it has a great tendency to go up over time, so a retracement this big I think is a great buy opportunity.
-Trading-Guru
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(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
