Transcription
I'm very proud to share that last week we had an excellent performance with our gold signals. The beginning was with the sell from 4218 and as we can see a sniper entry which already hit the target making over 1,600 pips in our favor.
Then on Tuesday, we have shared another signal to sell from 4095 and as we can see my friends, another sniper entry which already went in over 1,300 pips in our favor. But of course, we cannot win all of them because on Tuesday, sorry, on Friday we have shared another signal to sell from 4050. This one did not go as we have expected and went in over 370 pips of a drawdown. Of course, it's part of the game. We can never win all of them.
But the good news doesn't end here. We also share VIP signals on Telegram and here are the results right in front of you. So as we can see, every single loss has instantly been recovered and also Thursday, Friday, no losses at all resulting the whole week with over 1,260 pips in our favor. I believe it was an excellent performance, but it's also important to remember that we can never promise the same results every single week, but we promise you to do the best we can.
Here is the free channel of Telegram, I mean the VIP signals channel on Telegram. As you can see, to join this channel, simply my friends contact our support. You can find their contact details in the description below of this video. Also, make sure to join our free channel where we are sharing up to one free signal every day from the VIP group and also sharing here updates about our YouTube signal. So to stay connected to us through Telegram, make sure to join the channel Extreme Gold Signals and you can also find the link in the description below of this video.
And now let's begin analyzing the gold for the upcoming week, but before that, let's understand the fundamentals. So what's going on in the world? So recently, there was actually an Iranian attack on the one of the cargo ships which which was passing the Strait of Hormuz, and the United States forces has responded back by attacking some Iranian sites. This, in my opinion, helped the oil to jump, and most likely it will be slightly bullish for the upcoming week. The dollar actually was rising as well, and to balance these powers, the gold most likely is going to be bearish. Of course, this is from my point of view, and hopefully it's going to be correct. That being said, the gold most likely is going to be bearish for the upcoming week.
Now, let's discuss the fundamentals and head to the monthly chart. We went to the monthly chart because this candle still has only 2 days before the closure. So, this is going to be most likely the final shape for it. Now, the shape is very important because, as you can see, the gold actually has made a bearish breakout from the support at 4,350. Now, pay attention to the details of this candle. It actually has a very small wick at the top, longer tail at the bottom, and this price action usually indicates for a continuation in the fall. Not only that, but if we look at the bigger picture of the chart, we can first of all see here a resistance trend line, which has been formed back in August 2010, and also another resistance trend line, as we can see right here. So, meaning the after the bullish breakout happened, most likely the gold will continue the fall to retest the broken resistance trend line and creates a new sorry, a support trend line, a support trend line. And also, if we draw the Fibonacci retracement from this low right here to this high, pay attention, it actually matches Fibonacci 38.2, which means there is a possibility for the gold to continue the fall for the next month, reaching Fibonacci 38.2, and that is going to be the biggest buy we can make, in my opinion, by that time.
However, let's now move to the weekly chart. Now, the look of the weekly chart is what makes this analysis very challenging, and hopefully it's is to play well because, again, my friends, I will do the best I can because actually the gold right now is at the absolutely lowest level of a real support. So, will the gold make a bullish reversal or continue the breakout? Well, no one knows for sure. We are just simply doing the best we can to predict the next move. And we are actually relying on the fundamentals and the growth of the US dollar and the oil to decide the direction of the gold, which most likely is going to be bearish and I hope I hope I will be correct about it.
Now, let's move to the daily chart and see what we can do next with the gold. Now, it's important to understand something here. That based on daily chart, the gold actually has reversed exactly from 3,960, little bit pips before reaching the absolutely lowest level of a real support at 3,885, which I believe after all, the gold will indeed continue the fall toward that area. Now, let's try to break down the current chart that we have, shall we? Okay. So, as we can see, first of all, we have here, of course, a channel, as you can see, just like that, which indeed has just been broken out from right here, and we already have three test happened already. Um so, meaning the support trend line right here has already become a resistance trend line for three times. Uh number one, two, and three. Meaning, the gold most likely will continue the rise a little bit more and then continue the fall. But, we need to break this down more. So, as you can see also here, we have another resistance trend line that most likely is going to be respected. Let me just delete the other line. So, again, another resistance trend line right here that most likely is going to be respected. So, therefore, the gold is actually also expected to continue the rise a little bit more, retesting the same resistance trend line, and afterward, it will hopefully continue the fall.
Now, if we scroll more to the left side, we can see clearly right here, exactly, to be to be precise, at 4148 right here, the key level of a resistance that in my expectations will never be ignored easily. Also, uh we can notice here of course a resist Sorry, a support trend line number one, number two, number three. So, as you can see this support trend line right here is most likely going to be respected and actually retested to become a new resistance trend line. So, meaning the entry from 4148 most likely is going to be hopefully accurate and help us to have a good entry uh by um selling the gold from this area. But, to confirm this, allow me to move right now to the 4-hour time frame. Exactly.
Now, based on the 4-hour time frame, I prefer to sell exactly at the peak of the candle right here at Actually, to be precise right here exactly at 4140, because here we have the resistance number one, and we're actually anticipating for another good sell to be happen exactly at the second attempt of the resistance. So, meaning if we sell the gold from this area, our target is going to be at 3885, aiming for 2,500 pips. Hopefully, it's going to be in our favor, but in this case the maximums drawdown expected is going to be a little bit higher than the peak of the resistance right here at 4234, which will be ranging for around, I believe, 800 pips, I think. Exactly, 880 pips. Let me know, my friends, do I write the signal for you?
Another two reasons to believe that this is hopefully going to be a good setup is by simply looking here at the real level of a resistance trend line number one and number two, ignoring the fake breakout happened right here. We have here resistance trend line number one, number two. Hopefully, it's going to be respected again. And also, one more thing is the broken support trend line, as we can see right here. So, we of course have, based on the 4-hour time frame, a broken support trend line that hopefully is going to be also respected to become a new resistance trend line. So, hopefully, it's going to be a good level to start shorting the gold. But, of course, remember, my friends, we never promise any results at all and we are just promising to do with the best we can and hopefully it will play well.
Also, in the end, please my friends, don't forget to join our free channel of Telegram to receive any updates about these signals that you're getting here on YouTube. The free channel name is Extreme Gold Signals and you can also find the link in the description below of this video. So, until then, I hope that was informative to you and I would like to thank you for watching. >> [music] [music]