Brian_Philips

XAUUSD Good buy area!

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Hey guys,
Based on the chart there is a good buy opportunity for XAUUSD . So lets check the chart with us and see what is happening:
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1. Breaking the bearish trend line (Bullish)
2. Bullish Engulfing candlestick (Bullish)
3. Breaking a resistance area strongly and a pullback is happening (Bullish)

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So these 3 reasons and good risk reward ratio lead me to be buyer at this area. We're trying to consider both bullish or bearish signals in each chart and compare them with each other. But at this chart we don't see bearish signals right now.
** Considering risk management rules is a necessity!
Finally it was our idea about the next movement of XAUUSD . So lets see what do you think? bullish or bearish? Your idea is valuable for us so please bring your reasons in comments.
Thanks for being and supporting us!