OptimoomFX

Gold- Bottom in place, at least for now

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In yesterday's comment, I said that "losses should be limited at this point and we can even have a bottom".
All through the day, bears tried to push price lower and under 1865, but couldn't be able to do this.
At this point, Gold is trading at 1785 and 1765 is strong support.
I expect this rally to continue towards 1800 and remains to be seen if this is just a much-needed correction or a resumption of the long term uptrend.
Regardless, dips should be bought and only a break under 1765 would change this outlook.
My target for the next days is 1800 zone
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Comments

perfect
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OptimoomFX hadiche1333
@hadiche1333, thanks
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Well done mate! Thanks
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OptimoomFX KlejdiCuni
@KlejdiCuni, thanks! Made 250 pips on this one.
Now let s see if it breaks back above 1800
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I have the same view as you.
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OptimoomFX Fisher_Fx
@Fisher_Fx, thanks!
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nice chart , im still waiting for breakout
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