Gold Medium term
Updated
Traders,
Here we have XAUUSD on the 4h chart.
Price action gives us an opportunity and good probability to bounce from the current levels therefore:
- Double bottom chart pattern confirmed with
- Bullish divergence from 18th of Dec
- Bullish divergence on the lower low that we have now
- Resistances and vol should be tested
1st one is the trend line resistance at 1832 : 1848 breaking this level with a daily close gonna lead us to have 19** level.
-Fake breakout happened with a pivotal level in the beginning of the year correlated with DXY, but in the end it's a game of probabilities and chart offers a good one here.
Regards,
Here we have XAUUSD on the 4h chart.
Price action gives us an opportunity and good probability to bounce from the current levels therefore:
- Double bottom chart pattern confirmed with
- Bullish divergence from 18th of Dec
- Bullish divergence on the lower low that we have now
- Resistances and vol should be tested
1st one is the trend line resistance at 1832 : 1848 breaking this level with a daily close gonna lead us to have 19** level.
-Fake breakout happened with a pivotal level in the beginning of the year correlated with DXY, but in the end it's a game of probabilities and chart offers a good one here.
Regards,
Trade active
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Telegram: t.me/MO_Trading
Twitter: twitter.com/MoTradr
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