Mihai_Iacob

Gold- A nice start of the week for bulls (so far)

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my Friday comment, I wrote that, after such an impressive upmove, there is a pretty good chance of a correction, indicating 1975 as the confluence support zone that traders should look at.
Asian session opened with a drop in that zone and bulls quickly took control and elevated the price back above 1980
On the h4 posted chart, we also see a long-tailed pin bar in this confluence support zone that also favors bulls.
That being said, my bullish outlook remains intact as long as we don't have a clear break under support and a rise back to last week's highs could lead to upwards acceleration.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
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.