GOLD (XAUUSD) Multi Time Frame Analysis & Trading Plan
Updated
hey guys,
a lot of questions about gold!
for now, I don't have any active trading position.
just recently the price reached a key daily support level.
what I like about that structure is that it matches perfectly with intraday structure and 382 retracement of the last impulse.
on focus now is 1H chart,
classic double bottom formation there.
I will buy the bullish breakout of 1740 minor structure resistance (1H candle close above) with targets: 1748.5/1758!
remember that this double bottom pattern can easily turn to the indecision range.
being broken to the downside, out setup will be invalid,
but I would not short, because too much structure lower!)
good luck!
Trade closed: target reached
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