GOLD (XAUUSD) Pullback from Support

FX:XAUUSD   Gold Spot / U.S. Dollar

hey traders,

gold reached a strong major daily support yesterday.

on that, the price formed a double bottom formation and this night has successfully violated its horizontal neckline.

now bullish continuation is highly probable.



Hey guys,
so that is the kind of confirmation that I was waiting for.
it dramatically increases the winning probabilities!
+4 Reply
yap, gold now move up and will retest the strong falling trendline again
and also form a descending triangle before break the strongest support to 1800 :)
+2 Reply
@GbayAMD, thank you for comment my friend 🙏
+1 Reply
I agree, this is definitely possible, all this zone here is strong support on the daily timeframe, the only bearish confluence come from the weekly and monthly, on which a deeper retracement is possible to the 38.2 fib taken on the monthly impulse
+1 Reply
VasilyPonomarev transparent-fx
@transparent-fx, have you already taken a trade or you are looking for additional confirmation?
+1 Reply
transparent-fx VasilyPonomarev
@VasilyPonomarev, I am still not in, I am waiting for a clear break on the daily or a retest before joining any move, you?
VasilyPonomarev transparent-fx
@transparent-fx, We bought with my students in the morning! Now fingers crossed!
US session drives
+1 Reply
transparent-fx VasilyPonomarev
@VasilyPonomarev, let's see what the new COT report will bring, if it will be more longs, we can definitely continue up :)
you should check your 4H fib levels
+1 Reply
VasilyPonomarev Mick_Rogers
@Mick_Rogers, thank you for comment bro!
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