GOLD (XAUUSD) Still Bullish! How to Buy Wisely? 🥇 Long

GoldOANDA

Description

⋅ May 1, 2021 9:38 AM

Price action on a daily chart on gold is still very bullish to me.

The last high that the price is set did not reach a key level,
and bearish rally will be most likely limited.

Ahead, buyers are facing a major strong daily support cluster.

I believe that after a test of that zone, we will see a bullish continuation
to the underlined yellow resistance.

The only thing that you need is to let the price reach that structure,
and then to wait for a confirmation to buy.

Good luck!

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Comments

wtrader777777

⋅ May 3, 2021 11:08 PM

Hi Vasily, I like your approach on analysing things from both the buyers and sellers' perspective. Have you considered the falling trend line on the weekly chart for gold? Price just reached the upper part of the well established (4 touches so far) falling trend line. Who do you think is going to win here - bulls or bears?

VasilyTrader

⋅ May 1, 2021 9:39 AM

What do you expect from gold next week?