XAUUSD BUY IDEA
This is my prediction on GOLD. I'M currently bullish on GOLD for longterm play. From doing a top down analysis, starting with the Monthly timeframe, GOLD is above 200 EMA which is a strong indication that we're still bullish for longterm. Now, obviously you can't just go off of that. So, other factors are market structure, as you can see I broke that down on my chart. We have price action respecting the EMA'S and correction themselves and continuing the LONG TERM TREND direction. But we all know the market can and will do what it wants to do. So, just be flexible with what direction you choose to trade in. Now, of course there will be shorterm SELL opps but you need to FOLLOW THE TREND, and that will be based off of the TIMEFRAME that you choose to trade. Just keep in mind LONGTERM GOLD IS BULLISH! I tried to make my chart breakdown as detatiled as possible, hope it helps. GOOD LUCK TO ALL!
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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.