XAUUSD is struggling for upside and pushing slowly for upside. Soon it will break down and will break down hard once it will break down then keep selling the XAUUSD all the way back to the bottom.
I'm looking for price to return to a short term support level around 1220.78
1. A buy signal would need to print like a hammer or bullish engulfing pattern in order for the setup to be valid
2. No congestion (if there is it means the bulls are battling and the support may fail
Note the support levels drawn with dotted lines.
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XAUUSD Buy Possibility Trade: This Pair is so annoying lol, Had it going up this week but current events just tipped the markets upside down. Overall, this pair suggests an up move and that is exactly what I am looking for. Looking For Buy Trade Setups and Entering As The Up Move Is Eminent. A Good SL Is Around 1298 Levels Good Luck!!
XAUUSD Buy Trade Idea: We are at a very interesting point with Gold, its setting up nicely for an upmove making a buy trade hard to resist. Be careful with your trades, you can have your TP around 1313.00 Levels.
- Gold made another Pin bar that tested supporting zone today
- The whole structure shows that Gold is still in trading range
- Buy low when price breaks High today or make some retracement to its Fibo 38-50%
- Target at 61.8% of previous bearish impulse leg
- Comment +1 if you make profit
Gold price is now testing major resistance area at 1261 (23.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) and this is a key inflexion level. A strong reaction could occur at this level with the next major resistance at 1272 (Fibonacci retracement, horizontal pullback resistance, breakout resistance level) and our next...
READ THE GRAPHIC!
Im expecting a downside move to 1237.00 and then GOLD is going look for new highs...
1237.00 short trade R/R 2.61
1278.00 long trade (long term) R/R 4.1
LIKE AND FOLLOW
Enjoy albx :)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...