GOLDMV

let's delve into a scenario involving the price of gold and some interesting patterns in the financial markets. Imagine that gold has been on the rise, reaching a peak. Now, as it often happens in markets, there's a natural correction, a sort of step back. During this correction, gold gets close to a specific level called the 0.618 Fibonacci retracement – traders pay a lot of attention to this level. As gold approaches this level, we notice that its upward momentum slows down, and we start seeing a pattern of lower highs and lower lows. Now, when the price hits the 0.618 Fibonacci level, it faces resistance – as if there's a barrier preventing it from going higher. Here's where it gets interesting. We observe a double top pattern forming. It's like the market is trying to push higher, but it fails to surpass the previous high, creating two peaks at a similar level with a dip in between. This double top pattern is often seen as a sign of a potential shift in trend – from an upward movement to a downward one. Once the price breaks below the 'neckline,' which is drawn at the level of the dip between the two peaks, traders might see this as confirmation that the price could continue going down. Traders paying attention to this scenario would likely be looking at key support levels and other Fibonacci levels as potential targets for the downward movement. Remember, in the financial markets, patterns like these are just tools analysts use to understand potential future movements. It's like solving a puzzle using different clues. But, as with any prediction, nothing is guaranteed, and it's crucial to manage risks and stay informed about what's happening in the market. to know the correct entry and TP make sure to follow our telegram channel for confirmation

"In the upcoming week, XAUUSD shows strong potential for a bullish trend. Several factors contribute to this optimistic outlook. Firstly, global economic uncertainties and geopolitical tensions continue to linger, fostering a risk-averse sentiment among investors. Gold, being a traditional safe-haven asset, tends to attract increased demand in such uncertain times. Secondly, technical analysis indicates a potential breakout from a key resistance level, suggesting a shift in market sentiment towards the upside. If the price manages to breach this level convincingly, it could trigger further buying interest among traders. Furthermore, the recent dovish tone from central banks and ongoing concerns about inflation may propel gold higher as investors seek an inflation hedge. The relatively low real interest rates also make non-interest-bearing assets like gold more appealing. In addition, the weakening of the US Dollar against other major currencies could provide additional support for gold prices. A weaker dollar typically makes gold more attractive to international buyers. Considering these factors, a bullish scenario for XAUUSD in the upcoming week could involve a sustained upward momentum, with potential key resistance levels being tested and potentially broken. Traders may look for confirmation through technical indicators and closely monitor economic and geopolitical developments that could further support a bullish stance on gold." Please note that this scenario is based on hypothetical factors and actual market conditions may vary. Trading decisions should always be made based on thorough analysis and risk management.Running in full profit. be ready for next entry point

As anticipated in our previous analysis, the rejection at the upper band of the descending trendline, coinciding with the Fibonacci golden levels, seems to have played out favorably. The price action aligns with our provisional outlook, and we are currently se

Yesterday's market analysis observed a noteworthy movement in XAUUSD (Gold/US Dollar). The price of gold rose and approached the upper boundary of a descending trendline, but encountered resistance and experienced a rejection. It's noteworthy that this rejection coincided with the Fibonacci golden levels, providing a significant technical indicator for potential shorting opportunities. In technical analysis, the golden levels derived from the Fibonacci retracement tool are often considered key support or resistance zones. The fact that the upper band of the descending trendline aligns with these golden levels adds further confluence to the potential significance of this resistance area. Given these observations, our provisional trading stance is anticipating another retest of the Fibonacci levels in the upcoming week, with a cautious bias toward a continuation of the downward trend in the price of gold. This analysis suggests a potential trading opportunity for short positions if the price fails to breach the Fibonacci golden levels upon retesting. As always, it's essential to factor in risk management strategies and closely monitor price action for confirmation of the expected market movement. The provisional trader remains vigilant and adaptable to changing market conditions to make informed decisions. Please follow out entry levels given in telegram channel as confirmation.

Di bearish engulf reached premium sell zone. expecting gold to fall with the news

Expecting price to bounce from here and break yesterdays high

Daily engulf at entry. expecting price to be rejected from here and go down to next support zone

Last week gold was consolidating in a triangle pattern. This week gold will break out and we believe we will see some major price moves this week

continues rejection from 1870, still believe price needs to retest blue support area

Expecting gold to come down and rest the next level of support