DavidMarcy_TradeHuntFx
Long

XAUUSD - Retracement potential aslong as price stays above 1200

OANDA:XAUUSD   Gold Spot / U.S. Dollar
After breaking out of the wedge structure 6 weeks ago, XAUUSD             has gone on to form an ABCD structure with point D terminating at a strong level of support also. As long as the price stays above 1200, upside targets will be 1250 and then 1275. Fundamental news is favouring a stronger Dollar meaning Gold             prices will fall and this tells us to trade with extra caution during these times i.e 50% position capacity
Comment: Price is deep in the buy zone...will be monitoring today for an entry
Trade active: Enter with caution...
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