FX123333
Long

XAU/USD GOLD: LONGTERM ANALYSIS

FX:XAUUSD   Gold Spot / U.S. Dollar
332 0 7
I have detected higher lows that may cause a downtrend for short term, however I have also predicted a pullout effect leading price action towards 1332. as I believe a reversal will take place near that point. I have created a potential bullish cypher pattern which may lead above structure, if point C to D is complete then a breakout may occur. As point D is placed near the 1298.51 area in which is a low point and a kiss beneath the lower structure which may be an advantage for buyers. I have included a breakout point for potential longs and provided an exit strategy in case the trend may hit the second bottom level of the structure.

Opening point: 1298.51
Target point: 1418.64
Exit point: 1242.69
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