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MEX_Exchange

Gold on major support, prepare for a bounce

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
MEX_Exchange  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Gold XAUUSD xauusdshort xauusdlong xauusdbuy xauusd4h xauusdupdates xauusdsell
65
2
trendanalysis harmonicpatterns chartpattern gold xauusd xauusdshort xauusdlong xauusdbuy xauusd4h xauusdupdates xauusdsell
Buy above 1326. Stop loss at 1321. Take profit at 1332.
Reason for the trading strategy (technically):
Price is testing major support at 1326 (Fibonacci retracement, horizontal overlap support, bullish harmonic formation) and a strong bounce could occur at this level to push price up to at least 1332 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing major support above 7.9% where a corresponding bounce could occur.
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