OfficialKieranTrewick | XAUUSD 2HR Analysis | 3000?
All time high crazy! Charting new territory the precious metal is at it again, starting the week with a suitable correction down to the previous 25% quarter level and dynamic support whilst creating a fresh higher low before the latter week ascent that broke through the 3 day resistance pivot level and into the 2600s where it just continued pushing until market close on friday evening.
Whilst it just undercut the new 75% quarter level because of the close I can see that price slowed down upon reaching the dynamic resistance level and quarter level of 2525 indicating that we could see another correction down to 25% and the key pivot zone identified which aligns with both dynamic support lines before continuing its ascent into the upper 2600s.
Due to the recent bullish momentum it is important that we follow price and trade with the confirmations that are created not chase what we want to happen, basically meaning price can still go up before any correction happens and analysis is a footprint to possibility not something to be traded based on but something to be used as a toolbelt essentially giving us a list of confirmations that can increase the probability of a trade that of which can always change.
If you like this idea please drop a like and share it with your friends so they too can be in the loop with golds potential movements in the coming week.
Analysis Conducted by OfficialKieranTrewick
Whilst it just undercut the new 75% quarter level because of the close I can see that price slowed down upon reaching the dynamic resistance level and quarter level of 2525 indicating that we could see another correction down to 25% and the key pivot zone identified which aligns with both dynamic support lines before continuing its ascent into the upper 2600s.
Due to the recent bullish momentum it is important that we follow price and trade with the confirmations that are created not chase what we want to happen, basically meaning price can still go up before any correction happens and analysis is a footprint to possibility not something to be traded based on but something to be used as a toolbelt essentially giving us a list of confirmations that can increase the probability of a trade that of which can always change.
If you like this idea please drop a like and share it with your friends so they too can be in the loop with golds potential movements in the coming week.
Analysis Conducted by OfficialKieranTrewick
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