XAUUSD Bullish, Long
I have very strong conviction that Gold would be bullish. Please find below the detailed analysis.
Bullish
1:3 White soldiers on the on 4 hour time interval
2:Bullish engulfing on a daily time
3:Trend line broken
4:Strong resistance on a monthly support of 1756
5:Falling Wedge
6: No bearish Divergence
7:80% bullish in last 5 years for the month of December
Plan A
Buy above the daily resistance of 1787
or when we have a full candle above the trend line.
Tp1: On a monthly resistance of 1818 and also it is
below the 50% retracement of Fib.
Tp2:Projection of falling wedge and also the monthly
resistance of 1851 along with the Fib retracement of 78%
Stop loss: monthly support of 1756
Bearish
1:Lower Low and Lower High
2: 3 Black Crow on the weekly chart
3:Strong Resistance on 0.23 Fib Level
Plan B
Sell if it breaks the monthly resistance of 1756
TP 1:weekly Resistance of 1729
Tp 2:Monthly Resistance of 1706
Stop Loss: 1794 is the previous Lower High and
also it is above the Fib level of 0.23
Bullish
1:3 White soldiers on the on 4 hour time interval
2:Bullish engulfing on a daily time
3:Trend line broken
4:Strong resistance on a monthly support of 1756
5:Falling Wedge
6: No bearish Divergence
7:80% bullish in last 5 years for the month of December
Plan A
Buy above the daily resistance of 1787
or when we have a full candle above the trend line.
Tp1: On a monthly resistance of 1818 and also it is
below the 50% retracement of Fib.
Tp2:Projection of falling wedge and also the monthly
resistance of 1851 along with the Fib retracement of 78%
Stop loss: monthly support of 1756
Bearish
1:Lower Low and Lower High
2: 3 Black Crow on the weekly chart
3:Strong Resistance on 0.23 Fib Level
Plan B
Sell if it breaks the monthly resistance of 1756
TP 1:weekly Resistance of 1729
Tp 2:Monthly Resistance of 1706
Stop Loss: 1794 is the previous Lower High and
also it is above the Fib level of 0.23
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