Gold Does it Again: Heads Up for the 3rd Straight Day

The Daily View for Gold

  • At the time of this writing, XAUUSD’s price is up $2.12 (0.12%) from the day prior.
  • Gold has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Gold. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Gold.


Featured Gold Idea From TradingView

Below is a trading comment entitled 7 Reasons Gold will continue to Grow (Updated) July 2021 you may find interesting:

Hello Traders.Here is THE XAUUSD UPDATE YOUVE BEEN WAITING FOR! Here is my 2 Previous Analysis on GOLD – 23th January 2021 15th June 202 THE BIG QUESTION IS – DID YOU FOLLOW?? As Mentioned Before in (23th January 2021) & (15th June 2021) – I still Think the GOLD Price Will Reach All Time Highs in 2021 & 2022 As I Write This post smiling 🙂 After Many Traders said that it will Fall Badly to New lows this year & BTC will Shoot to the Sky!I Can officially Say – “I Told you so” Moving Forward Let me tell you the significance of GOLD & Why the Price Will Continue to Rise (Long Term) – Gold is one of the most highly-desired and useful metals in the world. Not only can it be beautifully shaped and sculpted, the precious yellow metal conducts electricity and does not tarnish. These qualities make it the metal of choice for the industrial, medical and technology industries, just to name a few.Arguably no other metal has been held in higher esteem throughout history, with almost every established culture using gold to symbolise power, beauty, purity and accomplishment.Today, gold still occupies an important place in our culture and society – we use it to make our most prized objects: wedding rings, Olympic medals, money, jewellery, Oscars, Grammys, crucifixes, art and many more. 1. My precious: Gold has been used to make ornamental objects and fine jewellery for thousands of years. Today, up to 80 per cent of the gold that is newly mined or recycled is used in jewellery manufacture. One reason the lustrous metal is such a popular …