Technician
Long

Short Term Trend Shift in Gold ?

FX:XAUUSD   Gold / U.S. Dollar
465 4 5
Update : first target hit, moved stop to break-even for second half, stopped at break-even
Profit/loss= +$23

Price has successfully changed stance from bearish to sideways after breaking the bearish channel . A bullish divergence is clear on RSI , while a major engulfing candle on the daily time interval. Looking for a move towards the recent main high at 1258 areas. A shift from a sideways market to bullish trend may materialize on a break below 1258. Taking the recent low at 1211.00 may abolish this setup

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Update : first target hit, moved stop to break-even for second half, stopped at break-even
Profit/loss= +$23
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Update : first target hit, moved stop to break-even for second half
Reply
agree with U that Gold is in sideway trend thank you
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thank you for the idea!
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