Gold bounce back ! Xau/Usd Last week Buy Setup still in play?
Expecting Xau/Usd to bounce back up. Price retested the area of interest @ $2627.50. We're looking for a move back up to $2687. If price closes above that area then we expect the price to continue rallying up to $2750.00.
Note: This is just analysis based off the trade setup that formed last week.
Note: This is just analysis based off the trade setup that formed last week.
Note
Price at this time is consolidating within a structure so perhaps. We will step away and stay on the sideline and continue to watch as the situation develops but the way it looks now. The movement to upside may be very limited or perhaps turn not occur at all if the structure remains as it is. It will depend on how the price closes on bigger timeframes by closing outside of the range price is currently in.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.