XAUUSD today after having a strong increase for the 3rd time thi

17 thg 11, 2023

Gold Currently continues to be in the overbought zone of RSI. But as I see with this price model, GOLD will have a slight adjustment. Reduce the area 82>84 then increase again. Because the Buy trend is very strong. At this rate, next week it is likely that Gold will return to 2000 or increase even more. Short wave cycles also show a very strong upward correction

XAUUSD
D1 and H1 diagrams
1_Previous trading idea: Buy gold. Result: Registration failed. Trends for the first half of the year: Gold is on the rise. 2_Today's trade idea: Buy gold
analysis:
D1: Gold rallied strongly yesterday, creating a D1 bar that rose in a broad range and closed near the ceiling, closing above yesterday's weak bearish D1 pin bar. Although buying pressure is evident, D1 Gold is currently touching a confluence of resistance at all-time highs and round number 2,000, so a deceleration could occur. The previous touch around the 2,000 area provided a downward push. Gold structure D1 is laterally accumulated. First half: Yesterday's sharp price increase and the establishment of new highs allowed gold to continue its upward trend in the first half. Since D1 is facing strong resistance, H1 can wait for a rebound and buy gold from the bottom today.