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XAU to 1900 top

Hello traders & analysts:

the ceiling target is 1900 - 1920* - 1920 is the full retracement back in 2011 the all time high for XAU

We have already surpassed our 0.705 level. If looking at entries, await a pullback by using the Fibonacci level on the daily, 4 hour to align your levels. This will give key areas to buy from.
during the channel or accumulation range - [grey box]. Refer to this as the trading range - notice how the range shows indecisiveness on the daily timeframe very easily giving no clear direction. However within the range it is possible to get a great opportunity to find a 'low' buying price or get a strong 'sell position'.
Now we have an impulsive swing -
fear is causing this due to COVID 19 - first or second wave
stimulus package - free money printing creating an infinite supply of debt

Pairs to watch for correlation
DXY
GBP JPY
USD JPY

Do your own research before entering - Gold moves different to many other pairs.

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10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
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we trade purely from naked charts, less indicators - remove the noise.

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