MR_XAU
Long

COULD GOLD SKY ROCKET?

FX:XAUUSD   Gold Spot / U.S. Dollar


Look at the pervious candle it was a fake out for a sell and price continue to shoot up.

if you oberserve the candle currently on the daily its fully bullish . that means there is no wick at the bottom. so it shows no seller influence.

if you look at the pervious candle which is ( red) you can see how the long wick at the bottom is longer than the wick at the top. that means that there was more seller influence in that direction. how ever buyers pushed up.

and they had influence at the top of the the red candle as well. next candle that pops up turns completely bullish .


also you see there is a resistance line. how ever at the resistance last the candle that was red was a fake out and the trend continued the next bullish . now look at all the other candles when price hit at that level it was bearish . sellers hit and dropped. twice. currently it looks like sellers had their chance but buyers were to strong and now will break through the line.


now look at the level of 1325.75 price. there is a support zone there that held strong


you see at that first dollar sign ($) that is gold . price dropped down and hit that line of 1325.75 but it didn't break. then at the second gold $ price shot up. it wicked over 180 pips to the top. right at that price level of 1324.75 and now finally on the 3rd dollar sign which is( $ red) price moved up.


Price could move around 1347-1350 NEAR THE GIFT BASKET

Mar 23
Trade closed: target reached
Thanks for the great advice. TP at 1347 a while agi
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