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Gold Spot / U.S. Dollar
Long

GOLD (XAUUSD) Bullish Forecast

By VasilyTrader
Updated
snapshot

after a false bearish breakout of a major trendline,
it looks like bulls are willing to start pushing.

on 1H the price has perfectly respected a horizontal structure and formed a higher low with an ascending triangle formation
- very important clues to consider.

during the last hour the price has successfully violated a minor structure resistance on 1H,
the breakout is now confirmed and I expected further bullish continuation.

target levels:
1713.85
1721.0

safest stop is below the higher low.
best entry is on retest

good luck!
Trade closed: target reached
New Analysis!
Chart PatternsCommoditiesforecastfuturesGoldMetalsTechnical AnalysistradingTrend AnalysisDJ FXCM IndexWave AnalysisXAUUSD
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