XAUUSD: A Bullish Breakout Idea Bearish Indications
• Resistance Zone at 1821.42
• Significant Resistance Zone at 1846.90
• Seasonal Analysis shows DXY remains bullish in January at 60%.
• No Divergence spotted.
• As per analysis DXY is moving towards a bearish trend.
Bullish Indications
• Higher Highs and Higher Lows
• Three White Soldiers
• Significant Support Zone at 1814.11
• On a 1-day timeframe AB=CD where the D point is at 1881.27, indicating a reversal after price action reaches that point.
• Gartley’s XABCD on 1 hr Time Frame Indicates a reversal in the area of 1815.98
• Seasonal Analysis shows XAUUSD remains Bullish in January 70%
• On 4hr timeframe DXY has tested the horizontal Channel support line on several Occasions
and breaking it down could start a new bearish trend.
• As per the nature of DXY and XAU are traditionally
negatively correlated, When the Price of DXY goes down XAU's price goes up.
Strategy :
Entry Long: 1827.014
TP1: 1845.235
TP2: 1878.105
Stop Loss: 1804.90
Lot Size 0.04 x 2
Risk/Reward: 1:2.25
Manage your Risk/reward accordingly!
