Gold - A Reversal Will Happen Soon

8月21日XAUUSD | Gold is still in a bullish market:

After the strong breakout which we saw in the beginning of 2024, Gold started another major bullish market cycle. This cycle is definitely not over soon, but Gold might create a short term correction, which would perfectly line up with the upper resistance of the rising channel.

Levels to watch: $2.650



Click chart above to see the detailed analysis👆🏻

Keep your long term vision,
Philip (BasicTrading)

9月2日

交易开始

Trading update on Gold (XAUUSD):



Click chart above to see the detailed analysis👆🏻

Gold is almost at the upper resistance trendline of the rising channel formation. With seven consecutive green candles, Gold is then ready for a (short term) retracement but the overall bullish trend remains valid, therefore: Ddps are buying opportunities.

Levels to watch: $2.700

Keep your long term vision,
Philip (BasicTrading)

前天

交易开始

Trading update on Gold (XAUUSD):



Click chart above to see the detailed analysis👆🏻

Higher, higher and higher and there is still a strong channel resistance at roughly $2.700. However Gold can still move about +7% towards the upside and squeeze even more bears, before a potential bearish retracement is possible. Just don't fight the overall bullish trend.

Levels to watch: $2.700

Keep your long term vision,
Philip (BasicTrading)