Mihai_Iacob

Gold- Buy dips is the safest strategy

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
As I expected, Gold exploded to the upside and I booked a nice 950 pips profit on my trades ( buy Gold at 1790-closed at 1855 and buy Gold at 1825- closed at 1855).
After reaching 1869 intraday high, XauUsd couldn't sustain its almost 500 one-day gains and has started to drop and correct the upside move.
Now is trading at 1847, but keep in mind that this is only a correction and the safest way to trade is in the direction of the overall trend which is strongly bullish
From a technical perspective, 1830 zone is now strong support, and dips towards that zone should be bought in my opinion.
My medium-term target remains 1900 zone, but short-term traders can target 1869 recent high.

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