Extended GOLD Analysis: Is 4200 Coming? (22 - 24 July)

[00:00:00]Hello everyone. So, of course, first of all, I'm not happy at all about the performance of our signals over the last 10 days, but please, my friends, remember that over the last 2 months, almost every signal we have sent here on YouTube was a winner and reversed with a sniper entry. But, we actually have been struggling in the last 10 days. Allow me first of all to show you something. For example, our pound USD signal, as you can see, has reversed exactly from our sell level and indeed hit the target.

[00:00:28]Not only that, but also our AUD USD right now is running in profit, as you can see.

[00:00:33]USD CAD also has been activated running in profit as well. So, meaning, thankfully, we have the skills, but the problem was the gold itself. The gold has actually been moving unexpectedly.

[00:00:44]And allow me also to admit one mistake I have made here. One of the mistakes I did was forcing the fundamentals to go along with the technicals. What does it mean? Meaning, I actually assumed that the gold will continue the bearish fall only because of the escalated situation in the Middle East. Ignoring the fact that we are actually on a support zone right here. Actually, the gold indeed has been active Sorry, has been behaving unexpectedly. Allow me to show you something. Right here, we have the US oil. And as you can see, this was my signal for the oil. And right now, as you can see, it's running as expected.

[00:01:19]Let's now take a look at the DXY.

[00:01:22]DXY also is bullish, as we can see, my friends. So, in my opinion, it didn't make any sense at all that the gold is going to be bullish as well. Gold was supposed to be bearish. That's what I'm That's what That was the mistake I have made here was forcing the fundamentals to move the technical analysis. However, my friends, admitting the mistake is part of the business. And also, my friends, I have been in this business for 12 years, going into the 13 one, and I'm aware that this is actually again part of the business, and we have to just live along with it. However, let's now let's we can do next with the gold for the remaining days of this week.

[00:01:58]So, as you can see right now, my friends, the gold has indeed reversing or actually has been rejected multiple times on the support zone at the bracket of 4,000. Not only that, but we can notice also right here that the gold has indeed formed a double bottom pattern, which suggests a continuation in the rise. So, meaning we can actually expect one more pullback right here, and most likely the gold will actually continue the rise toward our target. But again, where exactly we we can consider to buy the gold? First of all, let's move right now to the 4-hour time frame.

[00:02:30]Now, based on the 4-hour time frame, I would like to seek the help of uh the current um trend line that we have. And now, let's pay attention to the current levels. So, right now we can see right here we have, of course, a resistance trend line number one, resistance trend line number two, and check this out.

[00:02:48]As you can see, the broken resistance trend line has already faced here a bullish breakout from this area, and already became a support trend line number one. So, meaning the gold actually has a good chances to continue the fall, respect the previous level of a resistance trend line to become again a support trend line number two, and from that point onward, we can expect the gold to continue the rise. But where exactly? From my point of view, the safest level where we can actually consider buying the gold exactly is going to be right here precisely.

[00:03:19]Right at the retest of this Let me just make it lower. Right exactly at the retest of the broken resistance right here, as we can see at 4,088, which was in the past a support zone, as you can see right here as well.

[00:03:33]So, meaning the gold actually has a good chances to respect this area. Not only that, but if we also look at the support trend line that we have right here, support trend line number one, two, three, and four, as you can see, my friends, let me just make it more clear for you.

[00:03:48]So, right here we have a support trend line number one, two, three, four, and right here we had another fake breakout from this area, and right now we had the bullish breakout from this level. So, meaning there is a good chances for the gold to continue the fall and hopefully respect the same level of a previous support trend line and resume the rise.

[00:04:06]So, meaning we can actually consider buying the gold exactly from 4,088, and we can consider this setup failed only if the gold is going to be able to make a bearish breakout below the support at 4,013, which means it will be it will be ranging for around 700 pips. However, our target in this case is going to be right here exactly right here at the previous level of a support, as you can see, which became already a resistance right at 4,217, which means we can actually aim around 1,800 pips in our favor against 700 pips 770 750 pips. Let me now, please, write the signal for you.

[00:04:45]I had to adjust my entry, my friends, to be at 4,064, and I will explain why. Number one, was actually after some consideration and to make sure that the signal is going to be hopefully a good one, I chose to send the signal to buy exactly at the lowest level of a real support that that we can actually see right here. Also, the retest of the resistance at 4,064.

[00:05:09]But the main reason was actually by simply looking at the Fibonacci retracement. Look at that. Actually, right now the entry the current entry is pointing at Fibonacci 38.2, which is known, my friends, as the continuation retracement. So, in my opinion, it's going to be actually a safer option.

[00:05:25]Yes, we have to wait longer time for the pair to reach our entry, but nevertheless, I believe it's going to be a safer entry. However, also, if we apply the magic of trend lines, which, by the way, my friends, was one of the best strategies I ever I have ever used on this channel to bring you the best entries possible. By simply draw the Fibonacci sorry, the trend line on this level of a support trend line, and what you will do next is simply drag drag and drop the same line and place straight on the next level of a key support trendline. For example, the one we can see right here exactly became also a resistance trendline and right now after the bullish breakout happened, we can expect from the market to respect the same level of a support trendline one more time and continue the rise. That's the reason I had to adjust my entry, so this is I believe is going to be a safer one. However, my friends, always remember, we never promise any profits at all. We only promise you to do to do the best we can and of course, um sometimes um we might we actually might fail in our analysis, but again, it is part of the business. Remember, we are really doing the best we can to provide you with these signals and if sometimes we fail, then we have to move on. We cannot just uh look at the past. However, also in the end, make sure please to join our free channel of Telegram and stay connected to us through this channel to be connected to us all the time and to receive all updates about these signals.

[00:06:52]The free channel name is extreme gold signals and you can also find the link in [music] the description below of this video. So, until then my friends, I hope that was informative to you and I would like to thank you for watching.

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