#XAUUSD : IT IS WHAT IT IS !
Wonderful confirmation of my long call yesterday as Gold not only respected and held the MA50 Daily(1,646.71) as Support but broke now above the 4H MA200 (1,670.30) for the first time since October 09.
My end-target remains the MA50 Daily (which is now at 1,688.77), just below the top (Lower Highs trend-line) of the Lower Highs since the March 08 2022 high.
But since the profit on a 1 day basis has been amazing, feel free to book it now according to your risk reward ratio or at least move the SL deep into profit margin as I do.
1D is still only neutral : RSI # 50.842,
MACD # -12.350
ADX # 24.024
Only a break above the MA100 Daily (now at 1,733.45) would constitute a new (break-out) buy for me, targeting the 1D MA200 (1,812.09) and only a break below the MA50H4 would be a sell (TP # 1,620).
Note that the DXY broke below its 1D MA50 today for the first time since August 12 while the US10Y is also reversing.
This adds enormous buying pressure on Gold. All prices mentioned on my analysis are on XAUUSD.
My end-target remains the MA50 Daily (which is now at 1,688.77), just below the top (Lower Highs trend-line) of the Lower Highs since the March 08 2022 high.
But since the profit on a 1 day basis has been amazing, feel free to book it now according to your risk reward ratio or at least move the SL deep into profit margin as I do.
1D is still only neutral : RSI # 50.842,
MACD # -12.350
ADX # 24.024
Only a break above the MA100 Daily (now at 1,733.45) would constitute a new (break-out) buy for me, targeting the 1D MA200 (1,812.09) and only a break below the MA50H4 would be a sell (TP # 1,620).
Note that the DXY broke below its 1D MA50 today for the first time since August 12 while the US10Y is also reversing.
This adds enormous buying pressure on Gold. All prices mentioned on my analysis are on XAUUSD.
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