2024 Week01 analysis. What can we expect?

Last week of 2023 was a good tradingweek for us. After gold fell from 2090 an broke below 2072. We sold the market. Currently gold is moving between 2 channels. 1 big bull channel(yellow) and 1 smaller bearish channel(orange)

Below 2072 we need to focus on selling the market. ATM gold respected the support channel last week and gave a rejection to the upside. A better confirmation would be waiting for a proper break below off the bullish channel(yellow) Then we can add sells with first target 2047. If gold mange to push up again then wait for proper confirmation around 2072 for sells.

In the long run i am focusing on 2047 for potential going long again. But we need to follow priceaction around that level. Bullish target from here are 2070, 2090 and 2100

resistance: 2072, 2090, 2100
Support: 2047, 2032, 2018

Kommentera:

Gold managed to respect the bullish channel and gave a good rejection. Did not manage to take the trade because it was during the night(Asia session)

Kommentera:

Posible gold is forming a head and shoulder pattern. Wich can indicate the fall off gold. 2072 is resistance. My advice remains. Sell below 2072 after confirmation.

Kommentera:

Gold declining atm. My sell advice working out! focus on target 2052

Kommentera:

Still bearish in my view. Looks like bullish channel broke and retest follows. Need to keep shorting the market with target 2052 shorterm target.

Kommentera:

As expecting. GOlf fell

Kommentera:

Target 2052 reached. Congrats to those who followed

Kommentera:

Focus on buying around 2034-2031 level. Target 2045 and 2054

Kommentera:

Target achieved.