XAU/USD bullish analytics [May 12, 2017]
Updated
The gold price seems to have gained ground at 1216 prices, according to the uptrend line. At this time seems to appear a good enough opportunity to take a buy position.
Trade closed: target reached
UPDATE May 17, 2017,Target reached! Now we see the price action whether the price 1246 can be a strong support.
Our reason to buy this pair is very simple, trend-line, we do not know how far the price can go up, maybe 1246 as I show it (Daily MA50 & MA200) or even test the last highest price that is at 1291. quite a lot of resistance hinders The gold price to go up, but as long as we have a good entry, and consistent with our trading plan, then hopefully the best happens.
Note
if the price 1258 broken then we could see 1295 re-test.
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UPDATE June 3, 2017,Viola! The price 1258 proved to be a strong support and bad nfp news results caused the gold price soared to 1278! The second target may soon be reached.
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UPDATE June 6, 2017,Target profit 2 is reached. Cheers!
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