OANDA:XAUUSD   Gold Spot / U.S. Dollar
*This is a continuation from my previous idea pretty much.

4H has hit support at 38.2 daily fib and also resistance from previous 1833 level.

As can be seen on the chart the 4H candle failed to close below the 1833 numerous times, because of this I believe the downtrend was just a retracement and the daily bullish trend will continue to 1870 then 1900.

Will update as things progress.

Stop set just below all the last fractals in a similar area.
Trade closed: target reached: Take profit reached.


LonelyCoconutTrading LonelyCoconutTrading
@LonelyCoconutTrading, 4H closed above the second resistance good continuation sign to hit 1875.
+1 Reply
LonelyCoconutTrading LonelyCoconutTrading
@LonelyCoconutTrading, Trade going as planned thus far. Will look at price action once it's hit 1875 to determine wether I will add to my position or take profit.