Gold Price Forecast: Gold Makes a Move on 1800 - XAU/USD Levels | Metals Mine

  • Gold Price Forecast: Gold Makes a Move on 1800 - XAU/USD Levels

    From dailyfx.com

    Gold prices are popping higher today, making a run at the 1800 psychological level. This comes as price action had built into a bullish reversal formation coming into the month of October, showing a falling wedge after support held at a key spot on the long-term chart. Falling wedges are often approached with the aim of bullish reversals and that’s continuing to fill in. chart Longer-term, there’s another bullish formation that’s even had some recent context, as a bull flag remains on bigger-picture charts, and prices have been grinding support at the topside of the channel making up the flag. This fact is ... (full story)

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fsclub
Oct 13, 2021 11:09pm
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I discover even top pros finds it difficult to make a definite prediction when it comes to especially Gold market. But in my over-all assessment, it is always interesting trading Gold whether up or down. I think what will guide a trader better is your personal forecast about this market depending on how much knowledge you have acquired about the market. For me, I have averagely good technical chart that rarely fails me and that is my guiding touch light.
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Trader#8FC8
Oct 13, 2021 4:06pm
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Of course it is always a guessing game with price. Is it going up or is it going down regardless if it was just up or down. Part of the problem I would suggest is that someone's up may be another persons down and so on. Notice there is really no standard definition of up and down in trading? Yet on a relative scale, if Gold was down 2000 points and then up 3000 points following that, well in such a case would be fair to say Gold is up. But what about the long term "trend?" Well that still has to remain up and down in the periods ahead. The market is chaotic. Cannot be predicted.

The Crow (-_-)
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