Gold weekly analysis (XAUUSD)
Updated
Gold confirms rebound since maintaining above 1737. Tomorrow it can rise to 1786, which could be a solid resistance to this rebounding. Hence, it may perform corrections to 1758 -1747.
The critical point is 1786. Gold can choose its direction at this key level in following cases;
1. If gold can break and surpass 1786 for 1-2 hours, it might surge to 1881 (wave 3) and perfectly perform an uptrend. Suggest a buy-on dip strategy.
2. If gold struggles under 1786 and drops below 1747 for a long time, it tends to experience the downside again (c). Pick top to sell is recommended.
The short-term strategy for Monday is to buy on the dip.
Buy 1747-1766
TP 1772//1778/1786
SL set according to individual traits
Good luck!!
The critical point is 1786. Gold can choose its direction at this key level in following cases;
1. If gold can break and surpass 1786 for 1-2 hours, it might surge to 1881 (wave 3) and perfectly perform an uptrend. Suggest a buy-on dip strategy.
2. If gold struggles under 1786 and drops below 1747 for a long time, it tends to experience the downside again (c). Pick top to sell is recommended.
The short-term strategy for Monday is to buy on the dip.
Buy 1747-1766
TP 1772//1778/1786
SL set according to individual traits
Good luck!!
Note
US dollar may recover its loss this week. Keep an eye on DXY around 104.5. If DXY turns around, it is not good for buying gold.Trade active
First TP (1772) arrived. If you followed this signal and went long. Take your profit.Next TP are 1778 and 1786.
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Enjoy your first TP!! of the week
Note
If you followed this signal on Twitter, my positions were flipped to sell @1773-1775 and it arrived 1st TP (1766)twitter.com/tatathiwa/status/1554063610422317056
Trade active
Second TP (1778) arrived. If you followed this signal and went long. Lock in your profit.The next TP is 1786, which is strong resistance. You may close all long positions around there and wait for selling
Trade closed: target reached
3rd TP reached (1786). Close all long positions. Wait and see. .
Cheers for the final profit of this signal!!!
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