Gold 4h chart analysis

FX:XAUUSD   Gold Spot / U.S. Dollar
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Hi traders here is my idea about gold with 4h chart it is looking good for long because it broke out big Resistance then pulled back Trend line Resistance then going up it is hitting Fibo level 50% if it will break out this level next target would be 12040


Yeah buddy that is why most of traders use Fibonacci levels and numbers
Fib clusters and even numbers are good s/r levels in general...specially in FX.
People gravitate towards these, so the self fulfilling prophecy is strong in them.
I agree with the long btw, looks good.
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