Lingrid

GOLD good position to open BUY TRADE

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is slowly but surely growing from the support line, as we said yesterday.

So, since August 2020, Gold was in a downtrend, until in November of the same year it came to local support 1776.17, where it found strength for a leg of growth. The last two months the price has shown a confident upward movement, but at the beginning of last week it came to the resistance zone 1954.42 and collapsed heavily.

Practice shows that such strong collapses cannot be prolonged, and after them a correction begins, during which the price partially or completely recovers in its previous positions. In our case, Gold stopped at the support line of 1826.36, then began to grow and is now in the support area of ​​1859.81. And this is a great position to open a buy trade!

I will never tire of reminding you of the importance of SL. In this case, we are looking for it just below the support line in the area of ​​1804.76.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
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Comments

Gold fundamentals look is bullish it will be costly after one year above 2500 and 3000 expected
+1 Reply
Lingrid ar2089790
@ar2089790, thank you for your thoughts)
Reply
All the fundamental and technical indicators show Gold should be heavily bullish. But in reality it is not.
+1 Reply
Lingrid rufan8
@rufan8, will be bullish
Reply
BEARS AND COWS ARE STRONGER TO BUY THIS BATTLE FOR THE BATTLE, I CAN'T CONCEPT WHAT TO BUY AT THIS TIME, I WILL WAIT TO CONTINUE BUYING UP ON FRAME H1
Reply
KaoAnh KaoAnh
Reply
Gold is forming bear flag wait for the break and sell it ride it down.
Reply
Lingrid Ammyfoxtra
@Ammyfoxtra, hmm🤔
Reply
theseng99 Ammyfoxtra
@Ammyfoxtra, this picture look right.
+1 Reply
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