DeGRAM

GOLD growth in three steps

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
The price consolidated in the support area at 1851.04.
She came to this zone after the collapse last week.
The zone consists of two lines (August and September 2020).
The price dropped to the August line, then bounced and broke through the September line.
I expect the price to move in several stages.
1. The price will continue to rise and break through the resistance of 1896.08
2. Then it is consolidated on the line.
3. Will grow to the next resistance line.
The target is 1927.23.

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Comments

It's been dropping a bit since you posted this, but I still think a long position is the way to go. Even more so, if you hadn't bought yet the risk reward ratio just got way better actually because of that drop.

This is how I charted it:
Reply
DeGRAM Trading-Guru
@Trading-Guru, Interesting job

Thanks for words
Reply
Great technical analysis.
Reply
DeGRAM CollegeofPips
@CollegeofPips, Welcome bro
Reply
You are right mate.
Reply
DeGRAM DaweFXHunter
@DaweFXHunter, Thanks
Reply
sell from your goal?
Reply
DeGRAM TradingAlchemist
@TradingAlchemist, It's too early to think about it.

Perhaps
Reply
have you seen the news that will soon be released about the Basic Consumer Price Index in the US?
Reply
DeGRAM Lingrid
@Lingrid, Definitely
Reply
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