Gold on its way back up Jan 22 - Jan 26

After a decent sized down move the past week XAU managed to reverse and head back up. After a hard fight Friday, Jan 19 we saw Gold close at 2029 after a strong fight to break the level. After some war news over the weekend I am expecting to see a gap up to form a double top at the 2040 level and then move downward to 2020 to retest at the .5 fib level of the up move and grab liquidity for a strong push back up likely reaching to 2060 level. As we look forward to the upcoming week there is lots of money to be made and a whole lot more that can be lost so please trade on your own terms and trade safely! This is not financial advise but can be used as an idea! Thanks and if you find this helpful please boost. Happy Trading!

Comment:

other than a gap up on sunday open,and some tricky PA, so far so good we on track. happy trading!