WITH XAU SHOWING SIGNS OF POSITIVITY, IS THE FALL OVER?
POSSIBLE XAUUSD LONG ENTRY
XAUUSD
1. Double bottom on strong support zone on daily timeframe.
2. Another double bottom on 4hr at the second bottom of the daily.
3. Rising channel on the 1hr chat after the second bottom on the 4hr.
4. The 1707 zone represents the support zone of the channel, retest of the 50% fib zone on 1hr and also a strong area of liquidity after the order block there that created a new high on the 1hr,
Many believe Gold will rise in coming weeks so I have an entry point set up in a bid to be present for the possible reversal. I will use 2TPs. If price breaks the 1800 mark which represents the resistant zone for the Daily falling channel, then I'll look to the 2000 mark.
Entry - 1707
SL - 1702
TP - 1800
TP2 2000
XAUUSD1. Double bottom on strong support zone on daily timeframe.
2. Another double bottom on 4hr at the second bottom of the daily.
3. Rising channel on the 1hr chat after the second bottom on the 4hr.
4. The 1707 zone represents the support zone of the channel, retest of the 50% fib zone on 1hr and also a strong area of liquidity after the order block there that created a new high on the 1hr,
Many believe Gold will rise in coming weeks so I have an entry point set up in a bid to be present for the possible reversal. I will use 2TPs. If price breaks the 1800 mark which represents the resistant zone for the Daily falling channel, then I'll look to the 2000 mark.
Entry - 1707
SL - 1702
TP - 1800
TP2 2000
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