Long

XAUUSD Trend analysis

Bullish Indications
1- Formation of HH & HL
2- Inverted hammer followed by big Green Candle
3- Major monthly Support zone around 1780
4- 4H trendline support
5- support at 0.786 Fib level
6- Double bottom
7- Confluence of Horizontal support + Fib Level + Trendline bounce
8- For last 7 years, December is green for 5 years, 1 year is neutral and 1 is little red.

So I am long biased. Even if Gold continues downward trend, it may show bounce from major monthly support area and if bears appear to be much powerful than act according to plan B otherwise plan A will be intact. Both plans are mentioned on chart

Please comment for any suggestion, follow and support if you like the idea.

Thanks and good luck.

yousufrz

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