VasilyPonomarev
Long

GOLD (XAUUSD) Bullish Forecast

FX:XAUUSD   Gold Spot / U.S. Dollar

after a false bearish breakout of a major trendline ,
it looks like bulls are willing to start pushing.

on 1H the price has perfectly respected a horizontal structure and formed a higher low with an ascending triangle formation
- very important clues to consider.

during the last hour the price has successfully violated a minor structure resistance on 1H,
the breakout is now confirmed and I expected further bullish continuation.

target levels:
1713.85
1721.0

safest stop is below the higher low.
best entry is on retest

good luck!
Trade closed: target reached: New Analysis!

Comments

Are you also bullish on gold?
+1 Reply
i dont think its right time to long gold do check my idea it is going exactly how i predicted and posted it with better key levels
Reply
great job! So far your idea worked really perfectly!
Reply
Trading-Guru Trading-Guru
@Trading-Guru, Given all this new information I don't see any new evidence for either direction yet. This is my neutral analysis:
Reply
Nice idea bro. Check out my analysis

Reply
@Darius17, good outlook!
Reply
Thank you for sharing bro!
Reply
VasilyPonomarev MichaelWood81
@MichaelWood81, you are welcome bro!
Reply
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