2021/10/09 17:23 PM – GOLD FUTURES – D1/H4 – CONSOLIDATION

GOLD FUTURES – D1/H4 – CONSOLIDATION by Ironman8848 on TradingView.com

Currently attempting to recover above the clouds in a consolidation mode.

Indeed, as long as Gold stays and hold on a daily closing basis above $ 1’720,00 it should
still be seen as a consolidation phase in a broad sideways triangle price action.

In order to neutralise the downside risk, Gold should break and hold sustainably above the $ 1’840.00 area
and this on a daily closing basis.

Such kind of price action would then open the door for a retest of the former high at around $ 1’920 ahead of $ 1’960 and higher

4 HOURS (H4)

Currently above the clouds but still below the “cluster” !

Clouds support very thin = very fragile in case of heavy selling pressure.

Looks like, for the time being, a sideways consolidation price action.

Watch carefully upcoming price action as a failure to hold and stay above the clouds would directly put the focus to the former lows $1’740-$1’730


Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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