fosis
Long

Possible end of correction and beginning of uptrend continuation

FX:XAUUSD   Gold Spot / U.S. Dollar
The price hit 1137. It's 61,80% fibonacci retracement level. In theory that should point out to the end of correction.

Moreover there is Price Action formation called, Bullish Piercing. It's a trend reversal signal.


On the 1h chart, there is RSI bullish divergence .


My main TP target is 1182
Trade active: Unfortunately, my prediction didn't work exactly as I wanted.

However my trade is still active. The price retraced to 1137 line and if bulls defend 1132 level they will take an initiative to pull price higher.
Trade closed: stop reached: My SL got triggered.

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