I'm expecting XAUUSD to continue uptrend.
Reasons:
1) Two 4hrs candle has already closed above 2486 level which is a strong low point.
2) Price has also closed above fib level at 2486 level.
3) Price has also closed above 2493 multiple times on the 15mins TF and two 1hr rejections on the 1hr TF
4) I'm expecting DXY to continue going down.
Reasons:
1) Two 4hrs candle has already closed above 2486 level which is a strong low point.
2) Price has also closed above fib level at 2486 level.
3) Price has also closed above 2493 multiple times on the 15mins TF and two 1hr rejections on the 1hr TF
4) I'm expecting DXY to continue going down.
Trade closed: target reached
TP 1 Hit!Let's see if 4hr candle can break and close above 2507. If it breaks and close above 2507, we will see 2515 or a New high.
Trade closed: target reached
TP 2 Smashed!A strong 4hr candle needs to break and close above 2518 level to continue futher up, next target would be 2523.525 and 2529 but since this level has been tested mulitple times, we can expect to see gold looking for new high.
Note
TP 2523.525 and 2529 SMASHED!A strong 4hr candle above 2529 we will fly or we will reject from here?
Trade closed: target reached
TP2523.525 and 2529 SMASHED!Trade closed: target reached
NEW ALL TIME HIGH! LET'S GOOOOO!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.