Where is The Gold Price Going? XAUUSD Analysis by GBM
Watch the full video analysis here: youtube.com/watch?v=km8lkVzQau8
So the big question many of my clients have been asking is, where is the gold price going? Well contrary to popular belief, I believe that we may see a strong move to the downside before we see gains in the price again.
There has been a structure break to the downside on the daily time frame, after a 3 wave completion:
There has been a repeat of this on the 4hr chart:
I entered the short on a smaller 1hr flag break and have set a target based on the initial impulse of the current 3 wave move on the daily time frame. At that level I will wait for confirmation of either a continuation to the downside or a trend change.
You can watch the full video analysis here: youtube.com/watch?v=km8lkVzQau8
Happy trading!
So the big question many of my clients have been asking is, where is the gold price going? Well contrary to popular belief, I believe that we may see a strong move to the downside before we see gains in the price again.
There has been a structure break to the downside on the daily time frame, after a 3 wave completion:
There has been a repeat of this on the 4hr chart:
I entered the short on a smaller 1hr flag break and have set a target based on the initial impulse of the current 3 wave move on the daily time frame. At that level I will wait for confirmation of either a continuation to the downside or a trend change.
You can watch the full video analysis here: youtube.com/watch?v=km8lkVzQau8
Happy trading!
ملاحظة
I expected to see a corrective structure on gold before the downward continuation. There was a 3 wave correction and then a break of that to the downside. I expect to see a small consolidation around the current levels and then a move towards our target area. You can view the chart here:
You can view the full video analysis of this setup here: youtube.com/watch?v=dBO-8V9FUaA
Remember to subscribe to my YouTube channel so that you will receive notifications of all new content.
For more information regarding our services, visit our website: greenboxmarkets.com/
Happy trading!
ملاحظة
The Gold price is trading at our initial target area. I am moving my stop loss further into profit.I am not closing this position at this target level because I have further targets to the downside. I will wait for confirmation of a reversal in terms of a smaller structure formation before closing this trade. Alternatively we will see a continuation to around the 1180 level.
You can view the full video analysis here: youtube.com/watch?v=8-5_-BQUldo
Remember to subscribe to my YouTube channel and click the "bell" icon to ensure that you receive notifications for any new content.
You can also follow me on my Telegram channel for daily news and trading updates: t.me/lintonwhite
Happy trading!
ملاحظة
Target at 1217 hit perfectly.Waiting for confirmation of direction from here.
Happy trading!
أغلقت الصفقة: تم الوصول للهدف
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.