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husylzy
Aug 7, 2019 6:14 AM

XAUUSD: reached resistance zone 

GOLD / U.S. DOLLARICE

Description

1495-1500 resistance zone in weekly chart

will it retrace to 1400 again?

Comment

strong uptrend

3rd wave complete soon imo

Comment

daily chart

Retrace begins

Comment

Premise is to break 1490/1494.5 support

Comment

1460 has been broken though.
Target 1400
Comments
husylzy
Cheers.
north01
when
north01
wrong
Valentasm
With trade wars and NZD rate suprise. I have some doubts about it.
husylzy
@Valentasm, once 1500 get rejected, it’s possible. See how it goes
Valentasm
@husylzy, I recommend to read more fundamentals. I could agree some correction but nowere to your target. No some sources predicting 1800 which is more realistic than 1400. If you will be right i will be happy to admin i was wrong.
husylzy
@Valentasm, i understand that fundamentals could affect gold price dramatically. there is no wrong or right in trading. It's just about profit or loss in it. From my perspective, there is a uptrend, but the price has reached the resistance zone, and hit the resistance of the upward channel around 1510 right before. correction should come if there is no more fundamental surprising the market in the near future. and 1460 will be the 1st target. once breaks below 1460, 1400 is the next. I didnt mean that 1400 will be reached in 1 or 2 days.
Valentasm
@husylzy, You dam right. Good luck
husylzy
@Valentasm, I wouldn't say i am right tho. I just trade the trade. Good luck to you. Cheers.
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