Xauusd4h
XAUUSD 2021/22 Target // Deflation Move, Been waiting for this!Corrective Pattern at weekly timeframe, follow my DXY analysis for Long term and you will understand my call on gold, keep in mind this is long term target! Take it as a investment trade, go low lot sizes and hold
This target comes from all speculation Long on gold ( 80%+ ) corrective pattern also convinced everyone (who wasn't convinced yet for a perma bull trend on gold) but this is not true, at a recession, cash is allways king, not metals, and recession will truly begin soon, I expect DXY target of 112/115.
Good luck everyone, I tried short too early in past (june/july and got stopped out) (rising wedge bigger than expected) but this one will make up for all past trades
Im short again since 2047 and I keep adding, added again at 1990 and 1984 my first Tp will be 1820 but keep this target (1000/900 USD) in Mind
Trying short on gold at 2050 / deflation phase incomming I believe strong dollar is comming off, we will have another deflation phase as we had on february where all stocks crash and gold will make a correction due to the strenght of dollar also, DXY is oversold at 93 (still a high number) and just made a double bottom, ready for a massive move to 100+ this will send gold to 1700 price again
Sl I will use 2075
TP 1900
TP2 1750
Gold uptrend may continue but be carefulGold pulled back on Friday but the uptrend appears to be intact. In fact, Gold bounced nicely from the 100-hour EMA. If price stays above the area that I have highlighted in my chart, then it's possible that the uptrend will continue.
However, if the 2015 level is broken then the next level of support lies at 1980. Either way, I will be looking at some bullish price action at these support levels before placing buy trades.