Mihai_Iacob

Gold- Buy dips is my strategy

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my yesterday's post, I was wondering if XauUsd has bottomed.
And the price action from yesterday, after CPI, suggests it has...
Looking at the daily posted chart things look pretty clear with a strong reversal after the false break under 1945-1950 zone support.
Also, if we add together Monday's candle with yesterday's one, we have a very strong bullish engulfing (or, more clearly, a morning star formed with Friday's candle).
In conclusion, I'm looking to buy dips and I will remain bullish as long as the price stays above yesterday's spike low.

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