The price is currently sitting at an important level of resistance. The last few DAILY timeframe candlesticks are indicating a massive bullish pressure. As or right now, it is a bit difficult to predict whether there is a possibility for the price to drop till the 50% Fibonacci level before continuing its powerful bullish movements. However, we will keep monitoring the price action and look for more confirmations before going long and aiming for the target level indicated on the graphical illustration.
I am watching for a reversal very soon. I like your chart. Thanks
HayeTrading
⋅
Rejected at resistance but possibly setting up for a buy opportunity, as you say the 50 fib could be a nice entry, if we break above resistance could see a strong run 👍
UnknownUnicorn34088517
⋅
Could work great!
Michael_Winner
⋅
Interesting view, I'm probably agree with your gold long
YMGroup
⋅
Nice setup for gold thanks mate !
AtlasTrades
⋅
Nice one! Awesome XAU/USD idea here! People should learn it before start trading