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MohsenCapital
Feb 20, 2021 8:15 AM

Gold Medium term  Long

GoldOANDA

Description

Traders,

Here we have XAUUSD on the 4h chart.

Price action gives us an opportunity and good probability to bounce from the current levels therefore:

- Double bottom chart pattern confirmed with

- Bullish divergence from 18th of Dec
- Bullish divergence on the lower low that we have now

- Resistances and vol should be tested
1st one is the trend line resistance at 1832 : 1848 breaking this level with a daily close gonna lead us to have 19** level.

-Fake breakout happened with a pivotal level in the beginning of the year correlated with DXY, but in the end it's a game of probabilities and chart offers a good one here.

Regards,

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