New weekly 1000 pips strategy
Hi everybody!
Overall, the Uptrend continues to develop at high levels, XAUUSD is currently stalling after a strong rally around the $2392 area marking a 0.55% gain on the day. But the surprising thing is that the $2,400 mark has not yet been surpassed.
Clearly, the energy has run out and the market maker is trying to hold above the $2365 mark with help from the strong breakout support as highlighted on the chart. It appears strong enough to test or even reset global highs
The market eased volatility and entered a waiting period ahead of the news, growth could resume after a retest of support or a break above $2431. Since it is news, the price may bring unpredictable decline, we need to understand that breaking the ascending channel's 2365 USD support will break the structure. While maintenance will lead to price increases. If this scenario plays out as predicted, we can set expectations for a target of 2500 USD. And you, what is your goal.
Overall, the Uptrend continues to develop at high levels, XAUUSD is currently stalling after a strong rally around the $2392 area marking a 0.55% gain on the day. But the surprising thing is that the $2,400 mark has not yet been surpassed.
Clearly, the energy has run out and the market maker is trying to hold above the $2365 mark with help from the strong breakout support as highlighted on the chart. It appears strong enough to test or even reset global highs
The market eased volatility and entered a waiting period ahead of the news, growth could resume after a retest of support or a break above $2431. Since it is news, the price may bring unpredictable decline, we need to understand that breaking the ascending channel's 2365 USD support will break the structure. While maintenance will lead to price increases. If this scenario plays out as predicted, we can set expectations for a target of 2500 USD. And you, what is your goal.
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