GOLD (XAU/USD) | A Possible Short-term Reversal Area!
Updated
Hi,
It would be a bit risky and you should definitely wait for a bullish candlestick formation from 1H or from 4H timeframes.
Criteria:
1. Channel
2. Waves
3. Fibonacci retracement
4. Fibonacci Extension
5. Previously worked support
6. EMA100 from the Weekly
7. As said, it is a bit risky so, wait for a bullish candlestick pattern formation.
Regards,
Vaido
It would be a bit risky and you should definitely wait for a bullish candlestick formation from 1H or from 4H timeframes.
Criteria:
1. Channel
2. Waves
3. Fibonacci retracement
4. Fibonacci Extension
5. Previously worked support
6. EMA100 from the Weekly
7. As said, it is a bit risky so, wait for a bullish candlestick pattern formation.
Regards,
Vaido
Note
4H bullish Engulfing:Watch ou for the news: "The key reports to watch are ISM Manufacturing PMI. It is expected to come in at 51.0, just above the 50.0 benchmark level. Bullish data should put pressure on gold."
Trade closed: target reached
Firstly, the price starts to show you something inside the strong area, then the news brings a bit volatility and you find yourself around the target area:
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