MMBTtrader

XAUUSD in new uptrend channel ?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
we expect Gold rise and retest previous breakout on 1760 at least ,and then if needed fall more ,
why 1760?
because that was previous daily support that is now turn to resistance

Green path :
we expect that gold create new short-term uptrend at least and we can see that ,we have creation of new channel here but we should consider bear market too so beacuse of this Red path considered too .
Target :
A.1750
B.1768

Red path: if and if channel break and retest completed then we would expect falling again to lower support created before

previous analysis :

Notice : price can easily reach targets without correction too.

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Trade closed: target reached: 1750 reached
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Comments

Great analysis!
+2 Reply
MMBTtrader Serana2324
@Serana2324, thanks madam
Reply
nice🎉
+2 Reply
MMBTtrader future-prediction
Reply
well done
+2 Reply
MMBTtrader otaku-trader
@otaku-trader, thanks
Reply
Hello, perfect!
+2 Reply
MMBTtrader Henry_Ross
@Henry_Ross, thanks a lot
Reply
it's interesting . I loved. I will follow you
+2 Reply
MMBTtrader Technoarz
@Technoarz, most welcome
Reply
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