Fridrex

XAU/USD looking for buy

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold is on uptrend from 20th century, so you don't want to trade against the whole market and short this one. We hit 2077 last year and this is absolute high. We got rejected from 1682 which is .382 Fib Retracement level and raising now. Last down trend from Aug '20 seems to be correction move. Last week high on 1843 hit the strong zone created in 2020-2021. So right now you can buy if gold will retest 1800 zone, also you can buy if it go through the 1840 and daily trend line 1853-1857 for next week. Sell if it pass through the 1800 zone. I closed my long from 1800 zone and waiting for buy opportunity now, this looks very volatility and unpredictable in short-term. GL & HF
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.