Previous Week Update:

  • Before:

Gold Update.PNG

  • After:

Gold Update 1.PNG

Gold followed path A but just broke the resistance with the news over the weekend and hit my final long term target at 1355 and now I will be looking for re-enters at levels that I will highlight below to go up to around 1375.

Upcoming USD News:

  • Wednesday
    • PPI m/m
      • Previous: -0.1%
      • Forecast: 0.3%
    • Crude Oil Inventories
      • Previous: 4.6M
  • Thursday
    • CPI m/m
      • Previous: 0.1%
      • Forecast: 0.3%
    • Core CPI m/m
      • Previous: 0.1%
      •  Forecast: 0.2%
    • Unemployment Claims
      • Previous: 298K
      • Forecast: 300K
  • Friday
    • Core Retail Sales m/m
      • Previous: 0.5%
      • Forecast: 0.5%
    • Retail Sales m/m
      • Previous: 0.5%
      • Forecast: 0.5%

Monthly: Monthly closed extremely bullish, confirming a monthly triangle breakout upwards. We should continue higher to test the highs. Where we can either break above those highs to create a Higher High or create a double top on the monthly.

Gold Monthly.PNG

Weekly: Weekly closed extremely bullish and hit my last long term target at 1355. It left a nice wick to fill with the coming week and I believe it will be easily filled with what is going on in the technical and the fundamental markets. Look for rejection or exhaustion on the weekly timeframe to see if this resistance and the trendline will be respected. Could be an area where we bounce to create another higher low before continue higher.

Gold Weekly.PNG

Daily: My target of 1355 was hit and was rejected but I see the 1355 ~ 1375 range to be filled. I believe we will find a retracement before filling it but with the Hurricane, watch out for the gap and see what price wants to do.

Gold Daily.PNG

H4: The resistance of 1326.2 was broken with the Trump and Kim Jung Un news, then we ranged before breaking higher to hit 1355 target I had. I am looking for a possible 3rd touch on the trendline before continuing higher to 1375 to test the highs but it could drop the lower red line or the other trendline to create a higher low. We might gap to 1355 and create a double top as well. Keep an eye out.

Gold H4.PNG

Gold Overall Analysis

We have reached a critical zone on Gold and I will start to look on the Daily and Weekly timeframe for confirmations in the long term. 1375 highs will have a confluence of a strong historical resistance and a trendline touch which could create a triple top, which allows Gold to get a retracement on the larger timeframe to get a higher low.

I am overall very bullish on Gold but I believe we need some fuel to break the 1375 highs. I am confident that by the end of the year we can see 1400 and by the next 1500. But obviously I am going with what I see with market structure and price action.

Predicted Movement:

Gold Prediction

I see both Paths possible. We will see how it gaps with the hurricane over the weekend and, I want to see how it reacts to the trendlines I plotted and the red levels I highlighted. I believe we will hit 1375 and from there I will look to find some exhaustion to short to Gold’s higher low. Trade what you see. This is a map, but price action are the stars to guide you to the treasure.

In Addition:

  • Have a great week to you all and THANK YOU for all the support.
  • I will officially start my weekly webinar next weekend on analyzing USDJPY and Gold.
  • Link will be posted in the groups, on IG and on Telegram.
  • Link for Telegram is here: