OANDA:XAUUSD   Gold / US-Dollar
This is type of prediction which i dont want to do.. Monthly chart dosesnot contains many variables, so, technical indicators are useless (except CCI and RSI , which fails because they give too early entry).
So, in this i am going for a long term bullish scenerio due to following reasons :
1. Bullish Triangle, which gold seems to cross and is now to go furthur up.
2. Major EMA crossed.
3. Long Term Elliott wave 4 finally finished (Asseemed to me, but many analysis shows something else.)

But, many things are to considered. As seen in chart, Gold really needs to enter the green space, to be show bullish .

Cons :
Fundamentals. 4 years is a long time, there are many fundamental reasons that gold may dip much more in 2018.
Many news, geo-political issues, banking policies and much more can affect technical analysis . Fundamental Analysis is also to be considered.

Note :
It is not a trading strategy, its just an analysis.
Trade ist aktiv: Long at 1221.
Do you have any stop losses in effect or target price for the near / long term?
Antworten
@aebeeson, i hate stop losses.. these are meant to be broken.. lol..
But for long term. but i may suggest 1204 stop loss.. and target is the junction of red and green line..
Antworten
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