hi all this is my updated analysis for xauusd. i see a short wave going to 1270 unless something crazy happens this will happen in the next two weeks. i have used rsi and fibonnaci retracement and extensions
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i have added to the short due to bearish order blocks and what i believe to be massive stop raids
I think we are in up trend now, notice lower bottom in December 2017 than that from December 2016. Now we have last end of triangle with flat top - this should meen a brake out with the trend.
I'm curious how Trump and Kim meeting will affect gold.
@JohnnyFBrensinger, Sure but some trends can last years, specially that last one since almost 2k USD. With leverage, at FOREX even corrections in strong uptrend can destroy someone.
IMHO now world is on the verge on another financial crisis, few military conflicts and political for sure - all that in favor of gold so we have to brake out to the top finally. Charts are suggesting this strongly, now I was afraid about that FOMC announcments but I hear literally now how they are really concerned and aware of potential recession etc.
JohnnyFBrensinger
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@Saeglopur, yes my official long bias is up past 1400
I'm curious how Trump and Kim meeting will affect gold.