18/07 XAU All Time High, Continuation?
Updated
Gold has recently experienced some explosive moves to the upside, and much like gold has done in pst, when exploding, it explodes further, and the highest probable area for a reaction to continue is the 0.236.
XAU/USD has already shown some support at the 0.236 adding to my confidence of the continuation.
However, if Gold does break the 0.236, we can expect to see previous ATH turn top support which also lays around the golden pocket 0.382-0.618.
XAU/USD has already shown some support at the 0.236 adding to my confidence of the continuation.
However, if Gold does break the 0.236, we can expect to see previous ATH turn top support which also lays around the golden pocket 0.382-0.618.
Trade closed: stop reached
The stop loss hit on this one, I still remain bullish, we just have to lower the expectation of this possible next move, so I will be taking profit on my next trade at the 0.236, and then riding the rest for a higher high if price wants to do so.
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