GOLD (XAU/USD) | A Possible Short-term Reversal Area!
Hi,
It would be a bit risky and you should definitely wait for a bullish candlestick formation from 1H or from 4H timeframes.
Criteria:
1. Channel
2. Waves
3. Fibonacci retracement
4. Fibonacci Extension
5. Previously worked support
6. EMA100 from the Weekly
7. As said, it is a bit risky so, wait for a bullish candlestick pattern formation.
Regards,
Vaido
It would be a bit risky and you should definitely wait for a bullish candlestick formation from 1H or from 4H timeframes.
Criteria:
1. Channel
2. Waves
3. Fibonacci retracement
4. Fibonacci Extension
5. Previously worked support
6. EMA100 from the Weekly
7. As said, it is a bit risky so, wait for a bullish candlestick pattern formation.
Regards,
Vaido
Trade closed: target reached:
Firstly, the price starts to show you something inside the strong area, then the news brings a bit volatility and you find yourself around the target area:
Watch ou for the news: "The key reports to watch are ISM Manufacturing PMI. It is expected to come in at 51.0, just above the 50.0 benchmark level. Bullish data should put pressure on gold."