GOLD (XAUUSD) ANALYSIS FEBRUARY 12-16.
Here the the overall market projection on Gold (XAUUSD) for next week. It is a clear analysis and projection of the probable direction of Gold.
PRIMARY PROJECTION: Consider buying either strait after reversal from the current price level followed by break and retest of the resistance indicated in four hour timeframe.
ALTERNATIVE PROJECTION: Consider buying after price has broken the lower channel of the triangle and retested the dotted support around the level of 2007 in four hour timeframe. In this scenario, price is expected to to have fast movement that may create wick rejection to the downside in daily timeframe. High risk selling can be done when price has broken and retested the lower channel of the triangle. But it is not highly recommended to take sells unless you can manage well your risk.
PRIMARY PROJECTION: Consider buying either strait after reversal from the current price level followed by break and retest of the resistance indicated in four hour timeframe.
ALTERNATIVE PROJECTION: Consider buying after price has broken the lower channel of the triangle and retested the dotted support around the level of 2007 in four hour timeframe. In this scenario, price is expected to to have fast movement that may create wick rejection to the downside in daily timeframe. High risk selling can be done when price has broken and retested the lower channel of the triangle. But it is not highly recommended to take sells unless you can manage well your risk.
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