{"id":9484,"date":"2023-04-17T10:42:46","date_gmt":"2023-04-17T10:42:46","guid":{"rendered":"https:\/\/tradingshot.com\/?p=9484"},"modified":"2023-04-19T10:55:22","modified_gmt":"2023-04-19T10:55:22","slug":"xauusd-short-term-pull-backs-mean-nothing","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2023\/04\/17\/xauusd-short-term-pull-backs-mean-nothing\/","title":{"rendered":"XAUUSD Short-term pull-backs mean nothing"},"content":{"rendered":"<p>This is Gold (XAUUSD) on the 1M (monthly) chart where the long-term direction is best seen. Apart from the fast that it has been rebounding on the 1M MA50 (blue trend-line) since October, we can see that it has been trading within a Pitchfork, treating each trend-line as Resistance\/ Support. At the same time, it gathers buyers every time the 1M RSI hits its Higher Lows trend-line and starts strong rallies when the MACD makes a Bullish Cross. The last such cross was completed on March.<\/p>\n<p>This indicates that every short\/ medium-term pull-back on Gold doesn&#8217;t affect a strongly bullish long-term trend in a market that based on the Pitchfork has incredible upside potential.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/XAUUSD\/BpfhfYWC-XAUUSD-Short-term-pull-backs-mean-nothing\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/XAUUSD\/BpfhfYWC-XAUUSD-Short-term-pull-backs-mean-nothing\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is Gold (XAUUSD) on the 1M (monthly) chart where the long-term direction is best seen. Apart from the fast that it has been rebounding on the 1M MA50 (blue trend-line) since October, we can see that it has been trading within a Pitchfork, treating each trend-line as Resistance\/ Support. At the same time, it<\/p>\n","protected":false},"author":611,"featured_media":9485,"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-9484","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\/9484","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=9484"}],"version-history":[{"count":1,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/9484\/revisions"}],"predecessor-version":[{"id":9486,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/9484\/revisions\/9486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/9485"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=9484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=9484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=9484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}