XAUUSD: Nice base for a rally

FX:XAUUSD   Gold Spot / U.S. Dollar
I'm taking a small long position here and looking to add to it tomorrow.
The potential upside is quite good, with a target around the 1110.56 mark.
I'll update with my 2nd entry tomorrow.
Good luck if taking this trade.

Ivan Labrie.
Comment: 6 point move so far, looks good.
Comment: Slow day with neutral US GDP reads, but overall, we're headed up. If today closes above 1071.46 I will add to longs.
Comment: Uptrend confirmed, and interesting bullish news tonight.


Stop held, expecting a push up today.
Comment: Stopped, watching for more developments.
Comment: Today was a nice move but didn't confirm an uptrend yet. I'll watch the next daily bar, might our entry cue.
Comment: Gold, being the western world's enemy's asset, doesn't rally...Price action has been totally lackluster. Check Platinum out, it has a very strong uptrend. I gave my group a signal to go long at 866. It's also a nice one to trade as a pair with gold or silver.
Comment: Turned up to be a shakeout...I missed the long but I won't miss the short (nor the short term uptrend continuation trades)
See updated idea:
Wow! 866! u set the sl in where?
IvanLabrie LegendSum
Was tired and made a mistake, entry was higher, 866.8 was stop.-

Hello Ivan, I got stopped out of my long today. I switched to short based on a possible Cypher pattern, target 1062. Any updates?
Yes, the rally has been a deception for now, same in EURUSD.

But it can still shoot up, I'm out but monitoring it.
Hi Ivan, Looks a valid double bottom, Im looking at a target higher at 1130.
Yes double bottom or W, same conclusion, except your stop is so wide...I use a different method for mine. Let's see how it goes, potential is big.
+2 Reply
Still bullish pull back was only to 32.8 fib. low time frame flag set up possibility.
Possibly, but I'm looking for a larger timeframe signal here. End of year short squeeze rally is highly probable.
the price has broken up the flag pattern
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