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CesaroPelucci

Gold in an uptrend channel with targets 1490 & 1500

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
CesaroPelucci  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators Gold XAUUSD dollar uptrend Parallel Channel Divergence Bullish Patterns spot spotgold
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trendanalysis chartpattern indicator gold xauusd dollar uptrend parallelchannel divergence bullish spot spotgold
Gold is currently in an uptrend channel, and Friday it touched the lower bound of the channel at the 76.4% fibo retrace. There is also a strong hidden bullish divergence of H1 & H4. My targets are the top of the channel (1489) which is also the 1.272 fibo extension, and TP 2 is 1499 which is the 1.618 fibo extension. I will take partial profit on TP1 and put a trailing stop at 1470 for TP2 for my other long.
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