Hello again !
This idea, one of my A+++ trade ideas in my opinion !
So here what I see on this one :
We have a STRONG resistance at $1,689, it critical level of price that can help to extending the bullish rally !
Also that price can reverse the price and go again on the sell zone.
Fears that the coronavirus outbreak is spreading in the US and the entire world, it sending gold prices higher.
In my opinion the next target is at 1800 but this is a long term target.
I'am already long on gold since 1612, you can see my last idea about XAUUSD from 2 March
If we looking at the chart, we have the target at $1,689, which is the meeting point of the Pivot Point one-day Resistance 1 and the previous monthly high. From there, $1,800 is eyed.
You can set the short term TAKE PROFIT at 1700 for a short trade but the main idea is a long term idea.
But in my opinion you are a lot more in profit if you take a higher term price target
Support awaits at $1,665, which is the confluence of the Simple Moving Average 5-4h and the Fibonacci 23.6% one-day.
In my opinion GOLD, right now, can be seen as an insurance policy.
Please hit the like and follow button so you can support me and it also free :D
Take care and hope you end this week on profit !
This idea, one of my A+++ trade ideas in my opinion !
So here what I see on this one :
We have a STRONG resistance at $1,689, it critical level of price that can help to extending the bullish rally !
Also that price can reverse the price and go again on the sell zone.
Fears that the coronavirus outbreak is spreading in the US and the entire world, it sending gold prices higher.
In my opinion the next target is at 1800 but this is a long term target.
I'am already long on gold since 1612, you can see my last idea about XAUUSD from 2 March
If we looking at the chart, we have the target at $1,689, which is the meeting point of the Pivot Point one-day Resistance 1 and the previous monthly high. From there, $1,800 is eyed.
You can set the short term TAKE PROFIT at 1700 for a short trade but the main idea is a long term idea.
But in my opinion you are a lot more in profit if you take a higher term price target
Support awaits at $1,665, which is the confluence of the Simple Moving Average 5-4h and the Fibonacci 23.6% one-day.
In my opinion GOLD, right now, can be seen as an insurance policy.
Please hit the like and follow button so you can support me and it also free :D
Take care and hope you end this week on profit !
