XAU/USD Shortterm Analysis
Updated
Hello friends.
I think after a bearish short cycle its time for some correction.
according to my chart you can see we have a major high to major low Trendline
and price surpass the parallel line of this trendline.
it shows that maybe a temporary bullish run is in sight.
so first target is 1678 and after that we shuold look for amount of demand or supply.
i think price action to this important level and will fail to break that.
so if you take a LONG trade plz dont forget to set a great stoploss!
price bounce from a support level and now is above 50EMA and try to stable there.
after that move forward 1678.
thats my idea and it isnt totally an investment advice.
be careful and manage your risk and reward...
I think after a bearish short cycle its time for some correction.
according to my chart you can see we have a major high to major low Trendline
and price surpass the parallel line of this trendline.
it shows that maybe a temporary bullish run is in sight.
so first target is 1678 and after that we shuold look for amount of demand or supply.
i think price action to this important level and will fail to break that.
so if you take a LONG trade plz dont forget to set a great stoploss!
price bounce from a support level and now is above 50EMA and try to stable there.
after that move forward 1678.
thats my idea and it isnt totally an investment advice.
be careful and manage your risk and reward...
Trade closed: target reached
I think price reach near our target...
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