Gold Spot / U.S. DollarUpdated Gold Analysis: Best level to buy XAUUSD?
Dear traders, in my previous idea, I mentioned about selling XAUUSD at 2050 level.
As you can see, price dropped from that level and reached my final TP.
Currently, I am exploring the bullish scenario for Gold. As price is at the 100-day
EMA, and it appears to be consolidating, there's a chance that the institutional
buyers could step in at this level.
So, traders can consider long entries in Gold@1930-1940 with SL below the 100-day
EMA and TP at 2050 as long as price does not fall below the EMA.
As you can see, price dropped from that level and reached my final TP.
Currently, I am exploring the bullish scenario for Gold. As price is at the 100-day
EMA, and it appears to be consolidating, there's a chance that the institutional
buyers could step in at this level.
So, traders can consider long entries in Gold@1930-1940 with SL below the 100-day
EMA and TP at 2050 as long as price does not fall below the EMA.
Note
Price has already moved close to 1970, almost 1.5% up since I posted
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Related publications
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.