AbsS
Long

XAU/USD Gold Long

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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Wyckoff Analysis:

Previous downtrend has stopped and consolidation has been entered into.
Volume has spiked as price tried to break through the support line - spring. Accumulation confirmed and tested.
The entry is actually on the diagonal line that marks the top of the range but the chart can only have a horizontal entry line.

TP based on P&F (close, 0.5, 3) = $1273 roughly.
TP is dynamic and must be monitored as it is approached.
Comment: SL is about $1253 under the last point of support swing low.
Comment: Further/price action suggests that the spring may in fact be a UTAD when it left the range above - distribution.
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