Gold XAU/USD MultiTime Frame analysis for a week 11-15th May 2020

Gold XAU/USD Price Action, Support Resistance, Candlestick, Elliott Wave and Harmonic Pattern Analysis. 

Gold Weekly Candle Formation : 

Gold XAU/USD weekly Chart
Gold XAU/USD weekly Chart

weekly candle formation as an inverted Hammer on uptrend which is a sign of Bulls facing hurdle at a higher level.

Bulls will get active above 1729 for the Target of new High 
Bear will get active below 1671for the Target of 1660/1608

Gold Daily Support Resistance : 

Gold Daily Support Resistance
Gold Daily Support Resistance 

Support: 1681 & Trendline 

Resistance: 1715/1732

Candlestick: Trendline Bullish Bar still intake, Daily view Bullish

Gold Price Action Support Resistance 4H Time frame :

Gold Price Action Support Resistance 4H Time frame
Gold Price Action Support Resistance 4H Time frame 

Gold XAU/USD on 4H chart Triangle pattern is forming. Pinbar forms at Trendline Resistance 1722 which had a drive to gold at lower level. Now waiting for the trend reversal candle formation near trendline support for the uptrend.

Trend Line Support: 1688/1675

Trendline Resistance: 1722/1744/1788



Gold Elliott Wave Analysis 1 H Time frame :

Gold Elliott Wave Analysis 1 H Time frame
Gold Elliott Wave Analysis 1 H Time frame

Gold on Lower degree 4th wave is going to unfold as a correction is in the form of a triangle pattern.
1234 of triangle seems completed and 5th may complete around 1691 or 1681. 

Next 5th impulse wave may confirm above 1723 for the end near 1790.


Gold 5 Min Cypher Pattern :

Gold 5 Min Cypher Pattern
Gold 5 Min Cypher Pattern 

Cypher Pattern Fibonacci Ratio of  CD is 78.6% of XA is ending at 1701


Contact for Join VIP Telegram Channel:https://t.me/UltimateForexSupport


Post a comment

0 Comments