Gold- where to buy?
In Friday commentary I said that, after the strong reversal on Asia session, I'm almost convinced that Gold correction is finished, a higher low could be in place at 1875 and is very probable that XauUsd has resumed its long term uptrend.
The price action on London and NY sessions didn't disappoint me and the yellow metal finished the week at 1930 high of the trading day.
Now, being clear (as clear as trading can be) that we are in an early stage of a new leg up, the question is "where to buy?" and from a technical point of view 1900-1910 should be a great place to set our buy orders.
Also, a swing buy trade in this zone can have a great R:R.
In conclusion, my scenario for Gold is buying dips with a target around 1960 and only a daily close under 1900 and strong selling pressure would change my bullish bias for this asset
The price action on London and NY sessions didn't disappoint me and the yellow metal finished the week at 1930 high of the trading day.
Now, being clear (as clear as trading can be) that we are in an early stage of a new leg up, the question is "where to buy?" and from a technical point of view 1900-1910 should be a great place to set our buy orders.
Also, a swing buy trade in this zone can have a great R:R.
In conclusion, my scenario for Gold is buying dips with a target around 1960 and only a daily close under 1900 and strong selling pressure would change my bullish bias for this asset
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💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
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