FxWirePro
Long

Gold: Buy above break out

FX:XAUUSD   Gold/U.S. Dollar
1141 8 18
Minor trend line resistance - $1257 ( trend line joining $1278.85 and $1269)

Minor support - $1242

The commodity has recovered after making a low of $1247. It is currently trading around $1255.

Gold             is facing strong intraday resistance around $1257 and any break above targets $1270/$1279/$1283 in short term.

On the lower side minor support is around $1247 and break below targets $1242/$1235.

Overall bullish invalidation only below $1200.

It is good to buy above $1257 with SL around $1247 for the TP of $1269/$1278.

Marvin
10 months ago
Thanks. Are you looking for a close above this level on the hourly?
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FxWirePro PRO Marvin
10 months ago
yes
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Marvin FxWirePro
10 months ago
Great thanks mate.
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SamiKetonen Marvin
10 months ago
So 1h candle must close above 1257 and then i can buy? Or can i buy instantly when then price go above 1257?
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Marvin SamiKetonen
10 months ago
If you're asking me, I'd say it depends on your strategy and the risk you're willing to take. The earlier you enter the more the risk but the greater the reward. A break and CLOSE above on the H1 (or H4 if you want even more confirmation) is the more conservative approach. It's up to you.
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GiacomoBarzagli
10 months ago
hi! what do you think about silver? will it be short ever with SL 15,80 to TP 15,25?
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AlexxChan
10 months ago
Looks like its going to head lower
Reply
tntsunrise TOP
10 months ago
Perfect! If short at 1257, now already win 300 pips
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