Gold seems to be following a pattern of making a new high and dropping back to entry
I personally see gold going to 1990 to close the gap from the open before the previous drop before another sell of come up Key event to drive gold down this week ADP PMI NFP My target for the drop is 1920 sell of from 1990
The Russia conflict was one of the main fundamental driving buyers onto gold to retest the year 2020 high however with the rising of yield and the rising of the rate to combat inflation I believe this was the liquidity to pickup new sellers for the big move toward the down side. From my fibonacci notice how it touch tap the top from 2020 high then went straight...
Quick buy on gold at 1778 level TP 1796. Currently xauusd being making LL however if we can break above 1796 and maintain above I believe gold should start a new bull run but for now I look to scalp a buy from 1778 to 1796
Buy xauusd 1792 tp 1829 short term buy Sell xauusd 1829 tp 1620 long term sell
It broke the down trend I believe it will continue up now as people continue to buy the top with or without any reason behind it
Pmi, ADP and NFP next week Expecting all three to be bad news which will send gold flying
Multiple resistance at 1809, 1815 and 1833 Unless those level brake within the next 5 days I see gold going back down below 1750 if those 3 level do not brake. I believe nfp will send it up next week the question is will it hold or not? Comment down your thought below
Gold broke a major resistance at 1796 which is now acting as support. The next major resistance is 1830
Looking at taking a sell on gold to 1750-1760 for a pull back after the big move from 1680 to 1796. Next month gold can start a new uptrend or down trend but for now I see gold going down to 1750-1760 next week with fundamental news taking effect and dxy being strong as well. As well as ma 50 and 10 are showing bearish indicator on gold for TF above 3hr Key news...
Still looking long at xauusd Dxy making massive gain and xauusd is ranging at 1770 - 1796 looking at buy between 1770 area if 1796 break this month we could go to 1815
Approaching resistance at 1760 looking to short gold from 1750-158 back to 1740 as TP 1 then 1720 TP 2
Fundamental is bear for us but technical is also bear for gold
My previous post I said gold will bounce from 1796 well I caught the bottom on a sniper entry using SL as sniper entry to the moon we go
Looking at longing gold at 1796 which is where I believe it could bounce back
Looking at buying gold at 1796 and 1805 for a TP of 1850 which I believe will be the close on the monthly
Looking at last year trend gold is still short from 2000+ high last year. This bullish move is only temporary mainly because of cpi inflation data
Looking to short gold at 1820 if it does not brake above 1825