XAU/USD - Breakout is Looming
Updated
https://www.tradingview.com/x/1EeoptLL/
With impending geopolitical issue between US & North Korea, this will go higher until 1440-1450 range before retracing back to 1230 & below.
With impending geopolitical issue between US & North Korea, this will go higher until 1440-1450 range before retracing back to 1230 & below.
Note
Describe your update...Note
As expected, the breakout above 1300 achieved last week. So far in this update, no more story to tell for now. Only key resistances are visible.
Trade active
Touched the first major resistance after breakout. If broken, the next will be the 1350 range. But so much bulls protecting the 1336 area. It needs a strong push to win that level. Another missile perhaps?
Trade active
After touching the 2nd major resistance @ 1350 level, it retraces downwards and starts painting sell signals. The first downward brick has a wick on top of it which indicates that bears are IN and want to control the situation. Right now only fibo retracements areas are key support levels.
Trade closed manually
closed @ 1270 level. Now waiting for the signal to re-enter. Although some bulls movement are visible after hitting below 1270, its better to wait for a clearer entrance as bears are still in control. I placed a pending buy limit @ 1254.
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