TradeJournal_

GOLD XAU/USD - What now?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Let me break this down for you...

Yesterday, I had this triangle formation drawn. Bullish momentum was ready to occur if it broke to the upside which it did. That's great the pattern worked - I measured the the triangle and we are at that exact area.

Now sometimes, there is no pull back its a formation of a break out that sometimes occurs within the markets. Longer term, I am still bullish gold . However, within your plan you could perhaps have various other indicators that may perhaps signal a little bit of a pull back occurring to the support areas Between: 2007-1997

As you can see by the red arrows drawn, thats what I see that COULD occur. Bearing in mind, focus on key areas.

Enjoy and don't suffer with the FOMO! I encourage you to take trades of either direction of precious metals, they give out great opportunities but also remember - Stick to your plan and journal each trade to become a very successful trader.

Remember: Just an idea, not a trade recommendation.

All the best.

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