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AU

Potential Long Swing Position Following the HTF Bullish MoveWe've been bullish for a while now, but price made a correction of that move just yesterday and it swept a lot of buy orders so in theory it has the fuel to continue up from here We are just waiting for it to mitigate a high probability area of demand, and that blue area looks good because it swept liquidity and made a new BOS to the upside on 15m also, that area mitigated previous demand which gives us more confluences for our trade idea to work out and since that area looks messy we can't execute on 15m, so we have to wait for LTF confirmations and better RR 4h target
Long
by Cleerboy
Gold decoupling from stocks is a positive signOn Monday, gold broke above $2 000, making a new high at $2 009.85. Unfortunately, gold erased its gains the next day and plunged as low as $1 934.34. Although this drop did not last long either, and after the FOMC, gold skyrocketed back above $2 000. Currently, it trades near the $1 990 price tag. In the long term, we continue to be bullish on XAUUSD. However, we expect it to remain highly erratic as investors might cash out their profits in order to cover their losses in the stock market (once the selloff speeds up). Therefore, we will closely monitor gold’s price action in the following days; seeing gold decoupling from the stock market will be a positive sign. Illustration 1.01 Illustration 1.01 shows the daily chart of XAUUSD. It also displays simple support/resistance levels. Technical analysis Daily = Bullish Weekly = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by Tradersweekly
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