A Golden Opportunity - GOLD (XAUUSD)

Hello Friends!

What a crazy few months it has been! I hope everyone is healthy and staying safe out there!
Here is an idea on XAU so crazy it JUST might work.

You may remember last year, as gold traded just above $1400; our analysis pointed clearly to a MASSIVE move to $1696. Our target was hit with nothing short of perfection. View THAT analysis here:

With market conditions like this? Who knows what could be in store....
As I get more set up in my new location...you can expect more updates from me =]


Happy Trading. Good luck.



Idea fails if we drop back below the neckline...for now =)

Commento:

Targets are golden dotted lines btw. Forgot to caption them.

Commento:

Target 1 hit nicely, I guess now is time to wait and look for clues as to what happens next.

PS obviously $1888 is supposed to say target 3

Commento:

Certainly, it would seem that the 4H says we retrace now. I wouldn’t be shocked to see a big stop run like 1565 area.

Commento:

Sorry, I meant to say 1665* area

Commento:

Okay, I will try a small long here, but beware the 1 hour turning into a false swing low

Commento:

Looks like it might be good to go, just a nice small position here, would love to see it run through the NY trading session. Gl =)

Commento:

I just can’t shake the gut feeling we could see a repeat of yesterday’s session run (green)

Commento:

Alright, I would have liked to see the hourly close a bit more decisively, but that’s okay. Here is the set up we want, unclear whether or not we’ll touch the golden ratio