Hello traders, XAU/USD has dropped significantly for the last couple of weeks.
However, things could change pretty soon and we can witness a reversal in
Gold. US dollar seems to have peaked for now.
In the daily chart, the area around 1810-1820 is an important level. So, if Gold
drops to 1810, opening a buy trade in Gold@1810 with SL below 1795
and TP at 1920 would be a potential long trade with great risk:reward ratio.
However, things could change pretty soon and we can witness a reversal in
Gold. US dollar seems to have peaked for now.
In the daily chart, the area around 1810-1820 is an important level. So, if Gold
drops to 1810, opening a buy trade in Gold@1810 with SL below 1795
and TP at 1920 would be a potential long trade with great risk:reward ratio.
Comment:
So far looking good, price holding above the demand zone
Comment:
400 pips up from my buy zone
Trade closed: target reached:
Target reached. A huge 900 pips gain