Gold, in 4H Tech Analysis Training with ICHIMOKU cloud & Fibonacci projections look like this:
The XAUUSD pair had a sharp uptrend on last Friday from 1290 (4h) to 1307 and the price breached the red resistance line, the Tenkan Sen (light green line) and Kijun Sen(blue line) too.
MACD is bullish and RSI too. All these bullish signs are weak concerning that it is under the KUMO cloud and MACD under the zero line.
Fib projection from 1339.61 to 1293.41 has already drove to a 0.5 of fib correction and it will test it again. This time 0.5 of fib is the SPAN B of KUMO (top red line of KUMO).
So this weakly bullish will drive the pair towards to KUMO and maybe into it. Then stay aside until it decides the direction concerning the KUMO.
The XAUUSD pair had a sharp uptrend on last Friday from 1290 (4h) to 1307 and the price breached the red resistance line, the Tenkan Sen (light green line) and Kijun Sen(blue line) too.
MACD is bullish and RSI too. All these bullish signs are weak concerning that it is under the KUMO cloud and MACD under the zero line.
Fib projection from 1339.61 to 1293.41 has already drove to a 0.5 of fib correction and it will test it again. This time 0.5 of fib is the SPAN B of KUMO (top red line of KUMO).
So this weakly bullish will drive the pair towards to KUMO and maybe into it. Then stay aside until it decides the direction concerning the KUMO.
