In my post from yesterday, I mentioned the possibility of a correction in the price of $OANDA:XAUUSD.
However, this correction should be viewed as a favorable opportunity to buy at more advantageous prices.
As anticipated, this correction did occur, and as depicted in the chart provided, once the price briefly dipped below the local support, it reversed sharply.
At the time of writing, the price of Gold is hovering around the familiar level of 2030 and appears poised for an upward breakout.
Such a breakout would expose the technical level of 2040.
However, in my opinion, if such an event occurs, we should not anticipate a reversal from that level but rather an ascent towards the next significant level at 2060.
However, this correction should be viewed as a favorable opportunity to buy at more advantageous prices.
As anticipated, this correction did occur, and as depicted in the chart provided, once the price briefly dipped below the local support, it reversed sharply.
At the time of writing, the price of Gold is hovering around the familiar level of 2030 and appears poised for an upward breakout.
Such a breakout would expose the technical level of 2040.
However, in my opinion, if such an event occurs, we should not anticipate a reversal from that level but rather an ascent towards the next significant level at 2060.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.