Kumowizard
Long

Consolidation with positive signals. Ready to go higher?

FX:XAUUSD   Gold / U.S. Dollar
224 0 10
Weekly:
- Major bullish trend and bullish Ichimoku setup. Stronger supports at 1312             and 1280+
- 6th week of consolidation. Possibly building another bullish flag .
- watch haDelta for a cross up this week.
- MACD is a question. If price continues up, it will fail to cross down.

Daily:
- Consolidation at/around Kijun Sen. Chikou is at past candles. Tenkan and Kijun both flat.
- Supports: 1335 / 1300-1312
- Heikin-Ashi patern shows consolidation, but it has a bullish bias until price can not break and close below Kijun Sen.
Also haDelta and haOscillator shows some slowly increasing bullish force.
- EWO             ticks higher again (another small bullish signal?)
- Formation may be a bullish triangle, with upper key at 1360.

Note that volatility (measured by ATR) is very low! This means two things:
1. In case you have a trade setup, you can trade higher nominal amount now due to lower ATR (assuming same nominal fix % stop loss / trade)
2. Once we see a breakout from the triangle, the move will be sharp and quick, sending ATR higher again!

Fro me it looks like a bullish breakout has higher chance. Get ready to increase longs!

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