Technical Analysis for XAUUSD (Gold)

2019年3月19日

On the daily time frame, there has been a strong bullish trend since 30th November 2018, The 200 EMA confirms that gold is in a strong uptrend as it is below price. Also, the Ichimoku is showing bullish signals as there could possibly be a possible breakout from the cloud.The cloud shows that price is breaking out of the bullish cloud which indicates that there could be a strong bullish trend because the big thickness of the cloud shows how volatile Gold is. If the cloud was less thick then it shows low volatility . However the Kijun Sen is above the Tenken sen which is a bearish signal so I would need to wait for the TK cross to happen so that I will have all the right confirmations to enter the trade.The Chikou span is also pointing upwards and above price which confirms that the the trend is bullish but I would have to wait for the TK cross to happen so that all the signals on the daily are bullish and I can enter the trade. I would then drop down the the 4 hour to enter the trade.