It’s definitley on the up
Yes, minor time frames may offer some short entries. The buyers are waiting for the price to make some bearish correction. Once the price finds a good flipped level of support, it may head towards the North again.
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Looking bullish on the daily - it could even hit the 2000+ area again.
It just totally depends on the war between Ukraine and Russia too, as this is currently driving price upwards.
I agree, the larger institutions only want to buy at a discount relative to the larger range of price
New all time highs just around the corner me thinks.
Gold has been choppy in the daily chart. Considering the Weekly chart, it seems that the price had its second rejection at the higher high. It means there is a possibility that it may end up producing a Double Top. Let us wait and watch what happens next.
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Its been so choppy hasnt it lol i have been itching to get in and trade it again but i just cant see where i can without getting hurt lol
The daily chart shows that the price produced a bullish candle followed by a bearish engulfing candle closing below the last candle. It suggests that Gold may remain bearish for a while.
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Yeah i’m thinking its too volatile to trade its just too difficult to predict.
I’m still bullish on Gold currently - if you look at the weekly, order flow is still in tact to go higher.
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I think it will rise considering everything else is shitting itself
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Nice countertrend trade there on the retracement if timed correctly
The H4 chart shows that the price made a bullish breakout at the trendline, which drove the price towards the downside for quite a while. The price had a rejection at 1847.35 and found its support around 1831.90. A bullish breakout at 1847.35 may push the price towards the North in Gold.
This could come in line with DXY having a healthy retrace. It is definitely in need of one
Can see gold pushing upwards for weeks to come . Safe havens looking ever more attractive with the impending stagflation
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Yea jpy as well
The daily chart shows that the price made a long bearish move by obeying a down trending trend line. The price has been moving towards the trendline’s resistance. Traders are to be very watchful here. A bullish breakout may push the price towards the upside. A bearish reversal pattern, on the other hand, may drive the price towards the South again.
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Like the loow of this there is also a lot of buy side liquidity resting below the lows to the left. Could be a nice TP target
The trend line is still in play. It produced a bearish candle followed by another one. The sellers may look to go short in Gold.
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There are relative equal lows to target to the downside too