samir2000

GOLD Potential Long

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I see gold continuing the bullish rally as we are overall in a very strong bullish momentum on the 4 hour chart, We also see that gold continues to break through resistance areas with ease. We COULD possibly see some consolidation prior to the bullish continuation just to collect orders and manipulate any potential sellers. The reason i say manipulate sellers is because as you can see we are sitting on a resistance where a lot of people will see this as a selling opportunity. The is why i see possible consolidation then a bearish fakeout below the 4 hour support to knockout all sellers before the rally to continue to ABCD Formation up to the @1750.276 area.

Remember this is my personal view on XAUUSD i will be grateful if you could also share your ideas with me in the comments! Thanks

I hope you all have a successful trading week ahead!!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.