Gold or as we traders know it... XAUUSD is indicating very strong bullish potentials based on the 4H, 1D and 1W charts.
If XAUUSD on its 4H char manages to hold above the 1825 level and proceed to make higher highs and higher lows on its lower time frames then we strongly believe that there is an excellent chance of price moving towards the 1870 level, in the short term.
The 1W chart clearly shows that we are still making higher highs and higher lows, we also have a reversed head and shoulders pattern on the 1D and 1W charts, which supports the bullish idea.
With inflation rising heavy we might see money move into metals, but that might not be the exact fundamental reason gold rises.
Since we focus on short-term day trading we will not be overstaying our welcome, but each dip does become a solid opportunity to buy!
We hope this helps you with your trading decisions today!
If XAUUSD on its 4H char manages to hold above the 1825 level and proceed to make higher highs and higher lows on its lower time frames then we strongly believe that there is an excellent chance of price moving towards the 1870 level, in the short term.
The 1W chart clearly shows that we are still making higher highs and higher lows, we also have a reversed head and shoulders pattern on the 1D and 1W charts, which supports the bullish idea.
With inflation rising heavy we might see money move into metals, but that might not be the exact fundamental reason gold rises.
Since we focus on short-term day trading we will not be overstaying our welcome, but each dip does become a solid opportunity to buy!
We hope this helps you with your trading decisions today!
Comment:
We are targeting a profit at 1848.868 on Gold longs