Vikinsa's GOLD (XAUUSD, XAUGBP) Journal

What week it has been for gold. The current momentum suggests that we can see further upwards movement but there are few conditions now as it is reaching all time high. There are cases for short term bearish move too.Silver has also come to a reversal zone so next week is going to be eventful.

#Gold #XAUUSD A Possible Bearish pattern Has Evolved. This is a rare and weird 5-0 Pattern pattern that comes on few instruments. But keep an eye on DXY . Whatever is happening in gold and other pairs today is because DXY has found a support (at least for now)

https://www.tradingview.com/chart/XA...n-Has-Evolved/

Gold has hit all time high. This is still bullish but we now have weakness and over extension coming in. We can expect a retracement but so far there are no actual confirmations for the same. We do have 2 bearish fibonacci confluence patterns completing right now but lets see what market hold for us in this multi timeframe analysis of gold.



Silver like gold had an amazing month. It reached a level on monthly time frame. This also shows the importance of multi time frame analysis in trading. So what is next for the silver. Is it going to follow its bullish momentum of will it follow gold. It is decision time. Let see what we have in this multitime frame analysis.

Silver like gold had an amazing month. It reached a level on monthly time frame. This also shows the importance of multi time frame analysis in trading. So what is next for the silver. Is it going to follow its bullish momentum of will it follow gold. It is decision time. Let see what we have in this multitime frame analysis.

Traders, this is a zone of several important Fibonacci levels. A high probability confluence pattern is completing in this zone around 2080. This is where Alt Bat Pattern also finishes. All past structures and legs have a fibonacci extension lined up in this zone making this zone of high importance. This can create a huge reversal (correction) point for the gold which is already over extended on all time higher time frames. Arrows indicate potential correction levels. I have explained this on my YT channel too.

https://www.tradingview.com/chart/XA...e-Zone-Update/

Gold has started to show some weakness after hitting our high probability FCP zone. So what's next is what see in this update. But to understand it completely please watch previous 2 analysis on gold for the full picture first. Here they are:

Part One:

Update:

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Silvers moved higher to our level and went beyond. Now it is overextended and may fall down. Here are the reasons for it to take a break

Gold fell from our high probability FCP zone as per analysis. It printed the biggest one day fall of this year and probably nearly whole decade. So what is is happening with gold and why? What are the next steps?

Gold fell from our high probability FCP zone as per analysis. Please see previous analysis to understand the whole flow of analysis. (Links are above ) It printed the biggest one day fall of this year and probably nearly whole decade. It created a bearish engulfing candle on weekly time frame and a Harami set up on daily time frame. It is also in the process of forming an M pattern which can push the price down. But there are few points we must consider before we take any long or short positions next week.

We saw silver taking a little bit of correction after completion of a pattern and creating a bull trap in the process. Now it is at a decision level where we need to watch it carefully. Please see the previous idea for full analysis and description of the levels that we are watching to understand them better.

Hi I think if this candle is blue small body theres no way it can come down next.
also this move you're looking at won't go past 1800 easy
on the weekly I'm looking at the wick rather than the move, which could take more than a week to recover.

https://m.youtube.com/watch?feature=...&v=7k3yICUOA3o

This is the top down analysis of gold. There is no much movement from swing trading point of view but 2 new levels (support and resistance) have popped up which can potentially give us very good opportunities for trading. Let's see what to do with Gold for trading next week in this multi time frame analysis.

gold following the plan of W pattern. All 3 profit targets reached.

Gold has been in consolidation after a quick correction. Now because it has been in a tight range, we have been able to take profitable trades using FCPPatterns initially. Now this market is looking almost ready for a huge breakout. So in this analysis we can see what it can do and where it can go to.

In our last weekly analysis we saw that as DXY was expected to a take break GOLD ( XAUUSD ) was going too move up a bit. This happened exactly as we anticipated. This presented us with very good opportunities for both bullish and bearish trades. Long term Gold is expected to fall further but lets see what sort of opportunities we have on it for the next week.

Gold (XAUUSD) has been moving higher and we know exactly why. Technical analysis showed us that possibility 2 weeks ago and we were able to capitalise on that. Now there are very good levels which can give us short opportunities on gold. These levels can also be used for position building. If these levels are broken to the up side, we can have great breakout trading opportunities.