EdwardNg

XAUUSD (11-15 June 2018)

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Monthly Chart:

Looks like consolidating.

Weekly Chart:

Downwards pressure is still there. Slightly hit the support and need to observe more about the potential up or down.
Now is still consolidating and better not to touch to avoid losing trade. If want to trade, do short term, maybe hourly or four hour chart.

Daily Chart:

Daily chart seems like is consolidating and potentially moving up. Lets check the time breakdown and see the potential trade that we can do.

4-Hour Chart:

It has been consolidating and support seems really strong and have the potential to move upwards.
Potential mid-term trade spotted, Current price: 1297.72. Buy with stop loss of 1290, target profit of 1310. 7 point to loss, and 13 point to win.
Risk reward ratio is 1:1.14. Can try if want to.

Hourly Chart:

Looking at the short term, the support is very strong and can buy short term to mid term upward.

Happy trading.

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