Weekly Chart:
Prices reacted nicely at key support 1307
Bullish Engulfing Pattern
Daily Chart:
Broke out of prices above key level 1340, which is a positive sign.
Watch out:
1. The downtrend line above will act as a resistance.
2. The zones of all time high 2017 @ 1357 and all time high 2015-2016 @ 1374.7 will act as a resistance.
3. Zone 1325-1332 and Key level 1340 could be a retest zone.
I am going to wait for price action and suggest a long position @ zone 1325-1332 or @ key level 1340. It depends on signals on the chart.
Prices reacted nicely at key support 1307
Bullish Engulfing Pattern
Daily Chart:
Broke out of prices above key level 1340, which is a positive sign.
Watch out:
1. The downtrend line above will act as a resistance.
2. The zones of all time high 2017 @ 1357 and all time high 2015-2016 @ 1374.7 will act as a resistance.
3. Zone 1325-1332 and Key level 1340 could be a retest zone.
I am going to wait for price action and suggest a long position @ zone 1325-1332 or @ key level 1340. It depends on signals on the chart.
Note
H4 Chart: The first H4 candle closed above 1327.75. That's a really good sign for me to join the Bulls.Note
1. Zone around 1327.75 now became support. 2. Out target right now is key level 1340
Trade active
My long position has been filled yesterday and closed at 1340. Right now key level @ 1440 rejecting XAUUSD go higher as I mentioned yesterday. Let's wait and see before we figure out the next move. But we still on Bullish side as long as 1327.75 hold the price.Trade active
I joined the BullsNote
Handsome profit. 
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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.
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.