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newbietrader_TZW

XAUUSD key support zone !!!!!!

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
newbietrader_TZW  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators
1
1
trendanalysis chartpattern indicator
Daily
  • decending triangle pattern formed
  • key support on the retracement Fibo 0.236 LVL ( yellow zone )
  • RSI shows ready to retracement at the level 30

H4
  • RSI retrace at level 25.6 currently is 27 and shows the retracement is started
  • MACD shows bearish momentum is exhaustion
  • MACD line and the signal line ready to cross at the bottom

What to do now?
  • Long the market immediately or
  • Waiting for confirmation due to currently is retesting the support zone
  • Please do your own proper risk management
Good Luck to all traders!!!
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