XAUUSD, daily tf, buy on daily support level retest
Hello, my friends,
Another trading plan for next week is XAUUSD.
Gold pretty much moving inside a downward channel for now but i think we will soon see price breakout from this downward channel.
This looks like a bullish flag to my perspective and if it do breakout, we will see price going up towards 2200 area.
As you can see, i've marked daily support and resistance area.
We will only looks to buy for now because Gold pretty much in bullish trend if you look from bigger point of view.
There is also an ascending trendline which could possibly acted as support if touched by XAUUSD.
Hopefully it will acted as a support at 1850 area and supporting it as an area of confluence.
It will become a meeting point of horizontal support, daily support, ascending trendline support and EMA-50 support.
Buy XAUUSD 1855
Stop loss 18450
Take profit 1912 (3.8R)
RR Ratio 1 : 3.8
Use only 1-2% risk
Good luck
Another trading plan for next week is XAUUSD.
Gold pretty much moving inside a downward channel for now but i think we will soon see price breakout from this downward channel.
This looks like a bullish flag to my perspective and if it do breakout, we will see price going up towards 2200 area.
As you can see, i've marked daily support and resistance area.
We will only looks to buy for now because Gold pretty much in bullish trend if you look from bigger point of view.
There is also an ascending trendline which could possibly acted as support if touched by XAUUSD.
Hopefully it will acted as a support at 1850 area and supporting it as an area of confluence.
It will become a meeting point of horizontal support, daily support, ascending trendline support and EMA-50 support.
Buy XAUUSD 1855
Stop loss 18450
Take profit 1912 (3.8R)
RR Ratio 1 : 3.8
Use only 1-2% risk
Good luck