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Gold Spot (XAUUSD) Time for Consolidation & Lower Volatility

free commodity gold xauusd daily & hourly chart tips

free commodity gold xauusd daily & hourly chart tips

Click on the chart to enlarge

See the above chart wherein I have used the Gann Angles as support & resistance. As per the rules of All Angles, when the stock price breaks an Angle, it will rotate to the next Angle. Gold Spot is under a downtrend until the breakout of 8/1.

But that’s all about the long-term view. If you see the above Gold Spot’s hourly chart, there are two supports. And if XAUUSD repeats the game of excess & tail, then the downtrend will begin.

Hence, be ready for the levels of $1752 – $1726 – $1680 below.

Gold Spot can hold the downtrend by staying above 4/1. If it happens, then we will see $1830 – $1860 – $1900+ levels.

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9 Comments

    1. Respected Mr.Kamal,
      Use the following steps:
      Step 1: Draw a vertical trendline by measuring the average of the overall trend.
      Step 2: Next step, match the Gann fan with the trend.
      Step 3: To get perfection, find a trend angle tool with 48 degrees angle at the first point. And repeat this process from the opposite point of the trendline. But this time, make a trend angle first, then use the Gann gan.

      If you have any other queries or concerns, you can email me at [email protected].

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