XAUUSD : ON TRACK
Great achievement yesterday as the massive rebound broke above 1,715 and is approaching my target of the 1,729.50 - 1,735 Resistance Zone, with the 4H MA200 (1,661.70) supporting.
The current pull-back can be a technical bull flag but as it hit exactly the 1D MA100 (1,715.86) and yesterday's fundamentals subside, I don't want to take the risk and lose yesterday's huge profit so I am closing my buy now.
With 1D on healthy buy technicals (RSI # 62.071, MACD # 3.330, ADX # 21.668), I remain on the buy side long-term but only willing to enter again either after a session close above 1,735 (TP the 1D MA200 at 1,804.35 and falling) or a pull-back to the 1D MA50 (1,673.09).
Don't take excessive risks with your profits ahead of tomorrow's U.S. CPI. All prices mentioned on my analysis are on XAUUSD.
The current pull-back can be a technical bull flag but as it hit exactly the 1D MA100 (1,715.86) and yesterday's fundamentals subside, I don't want to take the risk and lose yesterday's huge profit so I am closing my buy now.
With 1D on healthy buy technicals (RSI # 62.071, MACD # 3.330, ADX # 21.668), I remain on the buy side long-term but only willing to enter again either after a session close above 1,735 (TP the 1D MA200 at 1,804.35 and falling) or a pull-back to the 1D MA50 (1,673.09).
Don't take excessive risks with your profits ahead of tomorrow's U.S. CPI. All prices mentioned on my analysis are on XAUUSD.
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