GOLD (XAU/USD) - - - - Buy entry / MultiTimeFrame(D2/H4) / RR:5

FX:XAUUSD   Gold Spot / U.S. Dollar
Hey traders

This is my bullish bias on GOLD , based on a multi time frame analysis .
We have a great accumulation as you can see on the charts :

- Weekly parralel channel bounce (purple)
- High momentum bounce on this channel with a hammer candle.
- A strong support zone
- Fibonacci for entry/exit as usual
- Forming a reversal pattern with the start of a new bullish trend
- Standard deviation (Secret theory)

For this trade , I have two potential targets as you can see on the charts.

Good luck everyone !

- Alex
Comment: Here is the H4 Analysis :

** Put your stop Loss in profit when first target is hit **

You can follow me if you want more high probability setup !

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