OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello Traders!

The daily and the 4h candle closed bullish today.
we might see a retracement back to either 1990 or 1982 levels for an upward move.
If both these levels hold we can see an upward movement towards 2020-34 levels.

Trade Safe!
Trade active:
15 mins timeframe.
Trade active:
Bearish rising wedge on 5 mins chart.
Trade active:
1st TP done. break of 1990 will take it down further to test the 4h Lower low. 1982
Trade active:
TP2 done for 1982.
Trade active:
Looking back for target of 1991 if it breaks to the upside then we will be in the right direction, 4h correction will be complete and price will head back to retest the previous highs.

Trade active:
price almost touched 1991, will see how the price reacts at this level.
1h closed bullish if the next 1h candle breaks above 1990 then next target is 1989-2000. else we are going down.

Trade closed manually
Trade closed: target reached:
As you can see the price broke 1990 level and then it hit our target of 2020.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.