danielanthony92

XAU/USD bullish analytics [May 12, 2017]

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
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The gold price seems to have gained ground at 1216 prices, according to the uptrend line. At this time seems to appear a good enough opportunity to take a buy position.
Trade closed: target reached: UPDATE May 17, 2017,

Target reached! Now we see the price action whether the price 1246 can be a strong support.

Our reason to buy this pair is very simple, trend-line, we do not know how far the price can go up, maybe 1246 as I show it (Daily MA50 & MA200) or even test the last highest price that is at 1291. quite a lot of resistance hinders The gold price to go up, but as long as we have a good entry, and consistent with our trading plan, then hopefully the best happens.
Comment:

if the price 1258 broken then we could see 1295 re-test.
Comment: UPDATE June 3, 2017,

Viola! The price 1258 proved to be a strong support and bad nfp news results caused the gold price soared to 1278! The second target may soon be reached.
Comment: UPDATE June 6, 2017,

Target profit 2 is reached. Cheers!
Awesome
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