Gold (XAUUSD) gave us another excellent buy entry on our most recent analysis last week (December 28) as we caught the exact low entry on the 4H MA50 (red tredn-line) and hit our 1830 target:
The price made a Higher High at the top of the Channel Up (green) that started after the November 15 High, exactly at 1850. The Double Sell signal was triggered not just because of this Higher High but also because the 4H RSI hit (even broke) its 2 month Lower Highs Resistance. This turns into a buy once the RSI enters the low dotted Higher Lows trend-line.
In price terms this should be within the 4H MA50 and 4H MA200 (green trend-line) and with a new buy positions we will target the 1850 - 1860 zone. A closing below the 4H MA200 should put to test the 1D MA50 (blue trend-line), which is the long-term Support for Gold on this 2-month uptrend.
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The price made a Higher High at the top of the Channel Up (green) that started after the November 15 High, exactly at 1850. The Double Sell signal was triggered not just because of this Higher High but also because the 4H RSI hit (even broke) its 2 month Lower Highs Resistance. This turns into a buy once the RSI enters the low dotted Higher Lows trend-line.
In price terms this should be within the 4H MA50 and 4H MA200 (green trend-line) and with a new buy positions we will target the 1850 - 1860 zone. A closing below the 4H MA200 should put to test the 1D MA50 (blue trend-line), which is the long-term Support for Gold on this 2-month uptrend.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
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You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.