Syndra

XAUUSD 22.10 Rejection Bullish Perspective

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
As the Ranging trader stopped out, this show the sign of premature breakout and new trend would likely to occur. The price action seem like wanted to create a minor structure inside the triangle which is relevant for the bullish market and premature breakout. The fail retest for the seller on previous support of trendline show their weakness. This may increase the probablity of the overextend on the buyer key level before they switched side to create new momentum to the upside to complete last push for this week.
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