rayzino

GOLD LONG, Price action trading

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
purely advice... dont take action without analysing XAUUSD yourself.

simple market geometry and price action trading
personally i dont use indicators.
ANALYSIS:
-weekly closer as a pinbar / hammer or whatever you want to call it, indicating for a reversal.
-Daily closure today showed a huge bullish engufing candlestick , breaking out of a 3/4 day consolidation zone.
-Awaiting for 1295 region to be reached before a potential buy. i usually will enter a buy limit.
-News for USD will be coming out on saturday 3am (UK TIME) which may have an effect on interest rates which can inturn effect gold price.