[Free!] Gold analysis from tomorrow in 2023

2023

This year as well, I look forward to your continued support.

I am the leader of the Manemasu clan.

Without delay, let’s analyze the market that will open tomorrow.

This is a mid-term perspective analysis.

When the market opens, I will also

update the short-term strategy.

ETF

ETF is rising with buying volume and finishing on an uptrend.

Weekly chart

After three consecutive days of lower wicks,

the price held around 1,800 with a slight upper wick and closed in 2022.

The retracement also nearly reached 50% from the recent high,

there isn’t much notable resistance,

next it seems to aim for 61.8%.

As for tomorrow’s strategy,

the outlook is bullish.

A gap-down followed by a pullback and buy-the-dip would be optimal, as shown above.

However, on the 4-hour chart, the upside feels a bit heavy for now.

There have been two breakouts to the upside, but they have been pushed back by wicks.

There is also the year-end factor and a lack of aggressive positions from large players.

Daily chart

4-hour chart

If you open a position,

go long near the lower bound of the green-arrowed channel + around the 200 EMA.

Here,if, as in the image, a W-bottom forms and rises steadily,

it will break out. This pattern tends to.

Even if it drops to the blue-band zone, the long view remains.

If it breaks the 1729.80 neckline, then the long strategy is temporarily halted.

Is XAUUSD about this level currently?

In reality, tomorrow’s opening will be crucial.

Basically, the long strategy for XAU in 2023 remains the same, but

how much it pulls back and how far it rises

will depend on CPI and FOMC announcements at the very start of the new year,

so I will update as things change.

That’s all.