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XAUUSD – GOLD has to decide

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FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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XAUUSD – GOLD has to decide

Trend: Sell/ Neutral

Price now: 1560.17

Support/Resistance:
R3: 1588.15
R2: 1577.45
R1: 1563.08
S1: 1555.12
S2: 1540.16
S3: 1531.75

Price action:
Overall flow on xauusd is bullish , but that doesn't mean the price can go deeper then it did. Price of gold is at decisional point between 1563.08 resistance level and 1555.12 support level . Once one side will break one of these price action levels we can go with the flow. We'd be carrefull especially at selling because of overall bullish flow. On the other side if bulls are able to break first resistance, then we might easily see following buyers targets.


Potencial trade idea:

Bulls targets:
T1: 1577.45
T2: 1588.15
Bears targets:
T1: 1540.16
T2: 1531.75

NOTE – We are trading XAUUSD via the preferred trading setups by EliteFxAcademy


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members , who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

Good trading!

Elitefxacademy
Trade closed: target reached