{"id":11140,"date":"2021-04-09T09:13:39","date_gmt":"2021-04-09T09:13:39","guid":{"rendered":"https:\/\/tradingshot.com\/?p=11140"},"modified":"2023-05-03T09:16:01","modified_gmt":"2023-05-03T09:16:01","slug":"gold-first-4h-golden-cross-since-december-bullish-or-not","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2021\/04\/09\/gold-first-4h-golden-cross-since-december-bullish-or-not\/","title":{"rendered":"GOLD First 4H Golden Cross since December! Bullish or not?"},"content":{"rendered":"

 <\/p>\n

Gold reached yesterday the 1760 Resistance which is a very critical level as it may currently be the Resistance (since March 01) but is a Pivot as it was formerly a Support (two contacts: November 30, 2020 and February 18, 2021).<\/p>\n

It is no surprise that the price got rejected there as besides the 1760 Resistance, it also touched the 1D MA50 (light blue trend-line), so short-term buyers naturally booked profits. What happens on the medium\/ long-term though?<\/p>\n

Well the most important development is the emerging (will have formed by Monday) Golden Cross on the 4H chart. Last time we had the MA50 (dark blue trend-line) crossing above the MA200 (orange trend-line) was in December 22, 2020). What followed then was an aggressive rally to the 1.618 Fibonacci extension. Assuming the same pattern is replicated, then medium\/ long-term traders may target 1800 (just below the 1.618 Fib ext) and 1825 (roughly where the 1W MA50 (yellow trend-line) will be at the time). Why the 1W MA50 is important? Because it is a Pivot as well, signaling trend changes on the long-term. As long as Gold trades below it, the trend remains bearish, above it we have a trend shift. Notice how the price found Support there twice (November 30, 2020 and January 18, 2021) and now has turned into the long-term Resistance that may reject the price.<\/p>\n

BONUS MATERIAL:<\/strong><\/p>\n

Most recent Gold idea:<\/p>\n

\"GOLD<\/a><\/div>\n

Long-term outlook:<\/p>\n

\"GOLD<\/a><\/div>\n

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **<\/strong><\/p>\n

——————————————————————————————————–<\/p>\n

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!<\/p>\n

\ud83c\udf89 \ud83d\udc4d Shout-out to TradingShot’s \ud83d\udcb0\u00a0top TradingView Coin donor<\/strong>\u00a0\ud83d\udcb0 this week ==>\u00a0hujianghua<\/a><\/p>\n

 <\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/XAUUSD\/L00yPY7K-GOLD-First-4H-Golden-Cross-since-December-Bullish-or-not<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Gold reached yesterday the 1760 Resistance which is a very critical level as it may currently be the Resistance (since March 01) but is a Pivot as it was formerly a Support (two contacts: November 30, 2020 and February 18, 2021). It is no surprise that the price got rejected there as besides the<\/p>\n","protected":false},"author":611,"featured_media":11141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1638],"tags":[],"class_list":["post-11140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=11140"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11140\/revisions"}],"predecessor-version":[{"id":11144,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11140\/revisions\/11144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/11141"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=11140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=11140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=11140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}