Vikinsa's GOLD (XAUUSD, XAUGBP) Journal

Gold moved exactly as I predicted.

This is what I predicted here:

and this is how it looks: https://www.tradingview.com/x/JfaVWDdi/

As per my weekly analysis I am currently long on gold and I will stay long as long as I do not get a confirmation to go short. In my quick update I mentioned that I am waiting for a confirmation on daily or 4h chart to go short. Until I get that I stay long. Once I have the confirmation to go short, I will close my long position, go short and follow the plan to go to blue horizontal lines again as mentioned in today's update.

For me this zone around moving averages and 61.8 is important. Unless that is broken, I do not see anything. If I get a reversal sign on 4H time frame in this zone, I will close part or full long position and may initiate a short position. If this zone is broken then next level is obviously 78.6 hence a wider zone.

This 2618 Trading strategy as well that I am following here where we have a double top and then the price returns to 61.8 fib and then starts to fall.

https://www.tradingview.com/chart/XA...d-As-Expected/

Gold is reversing exactly where we expected it from

Vikinsa nice job well done...Gold may go deeper from that reversal to about 1500 psychological level.

Here, the trendlines are broken downward...I expect more downward move.

Thanks mate

My analysis based post has been trending on LinkedIn: https://www.linkedin.com/posts/vikin...590109184-cnc1

[COLOR=rgba(0, 0, 0, 0.87)]Traders, Gold has been quite predictable from technical analysis point of view however the current consolidation is forcing us to think alternatively. In this analysis I present all good possibilities for gold.[/color]

As expected and predicted Gold has come to 78.6 fib level. Now a lot of traders will take that as a breakout. However this can very well be a Bull Trap. So In this analysis update I talk about all possibilities and my trading plan.

Gold Profits Taken At The Max, Waiting For A New Long or Short Signal April 97, 2020 - Vikinsa Fibonacci Confluence Trading

We made good profits on gold long position. However I did not take a long position last week again because of reward to risk ratio. Now gold is deciding what's next. So I am waiting with a trading plan. Here is my trading plan on gold trading for the week.

Went short from 1743

We managed to take profits on 2 short and 2 long positions on Gold in last couple of weeks.

Gold has violated the previous zone and is over stretched. It is trying to reach a level where it can reversal (at least for the mid term). As most traders are long, this can reverse any time to create a huge bull trap. So I am watching all the potential reversal zones. None of the other technical reason have changed at all.
1. Monthly W patterns
2. Weekly W pattern
3. Daily RSI Divergence
4. 4H W pattern.

https://www.tradingview.com/chart/GO...-For-Reversal/

Traders, Gold again pushed up but it si still inside the reversal zone of the monthly chart. Silver moved exactly as we predicted and is now moving towards the zone. USOIL is still struggling but has an interesting zone. If you found this idea useful, hit the like button and subscribe. If you have your own ideas to share on this market or have a question, comment below so that we can discuss.