Three days ago we gave a strong Sell Signal just after Gold (XAUUSD) hit its 1D MA100 (green trend-line) that it would target the 1D MA200 (orange trend-line) next:
Our 4220 Target got hit, as did the 1D MA200 for the first time in almost 2.5 years (since November 13 2023) and the market reacted instantly with a rebound, following of course Trump's 5-day ceasefire announcement with Iran.
The pattern that has emerged is a Channel Down and following the oversold 1D RSI, a technical rebound comes very naturally. Based on the first Bullish Leg of the pattern, it can go as high as the 0.786 Fibonacci level before reversing, but a touch on the 4H MA100 (red trend-line) keeping the 1D MA50 (blue trend-line) as the short-term Resistance, is technically what we expect.
Our next medium-term Target is the December 2024 Higher Lows trend-line at 4100.
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Our 4220 Target got hit, as did the 1D MA200 for the first time in almost 2.5 years (since November 13 2023) and the market reacted instantly with a rebound, following of course Trump's 5-day ceasefire announcement with Iran.
The pattern that has emerged is a Channel Down and following the oversold 1D RSI, a technical rebound comes very naturally. Based on the first Bullish Leg of the pattern, it can go as high as the 0.786 Fibonacci level before reversing, but a touch on the 4H MA100 (red trend-line) keeping the 1D MA50 (blue trend-line) as the short-term Resistance, is technically what we expect.
Our next medium-term Target is the December 2024 Higher Lows trend-line at 4100.
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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 us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน