Trader_97
Long

GOING LONG ON XAU/USD !

FX:XAUUSD   Gold/U.S. Dollar
50 0 0
Price has broken out of T.L Resistance from 16th of November 2015.That for one seems like a good reason to consider stop shorting Gold             for short or maybe even medium term.On H4 and H1 timeframes price is trading above the 100 day and 50 day moving averages .If 1066 holds up then this I will consider this a decent bottom formation in my opinion it'll act as good support and judging from way price is failing to break out of this recently formed channel and support level.I'm going long here with my first target at 1082 and second one at 1092.If price advances higher.... I consider 1098-1108 as decent resistance levels for short term.Place your stops right under the 1066 area
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