Gold with No Drama

[quote=biggiekados;15725495]{quote} this may seem pretty amateur of me but when you say the market has broken out of a consolidation, what do you mean by that in the context of the photo? thank you.[/quote
do you now understand or not

Exit with TP

Thanks for sharing this detailed analysis! Very helpful.

you have to change brokers then..

Dammit, I friggin slept off

This should be fine, they are ready to bomb each other so this is highest probability.

Trumps little speech about Iran “wanting to talk” slight gap up in weekend gold which does usually work well for idea of market open.

if he starts this weekend saying Iran are willing to talk gap up

any more bombs especially on pickxae mountain gap down

4080 for me is short term resistance so Sunday night we shall see

Gold(XAUUSD) Outlook for the upcoming week

In current week Gold went through a roller coaster ride where after the breakout form a major bearish trendline at 4030, it retested the level 4166 and again returned back the 4022, structurally gold seems to be moving within a ascending channel, currently taking support of lower boundary, bounce is expected following to which price might retest the significant resistance zone.

However breaking of the channel below the level of 4022 can lead for deeper corrections as trend on the higher timeframe remain bearish.

If you look at the overall structure it might seem like gold forming a double bottom (a bullish reversal pattern), whose neckline is at 4200 on higher timeframes.

support & resistance levels are:

S1: 4022
S2: 3960
S3: 3900

R1: 4082
R2: 4166
R3: 4200

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.

Still on sell Gold

weekend gold