XAUUSD hit Support (1) at 1981 and the current reaction is a rebound.
The long term pattern is a Channel Up.
Trading Plan:
1. Buy as long as the price is closing over Support (1).
2. Sell if it closes under.
Targets:
1. 2050 (Resistance 1)
2. 1950 (Support 2 and MA200 (4h)).
Tips:
1. The RSI (4h) is testing the bottom of the Channel Down. This strengthens the probability of a rebound (buy signal).
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The long term pattern is a Channel Up.
Trading Plan:
1. Buy as long as the price is closing over Support (1).
2. Sell if it closes under.
Targets:
1. 2050 (Resistance 1)
2. 1950 (Support 2 and MA200 (4h)).
Tips:
1. The RSI (4h) is testing the bottom of the Channel Down. This strengthens the probability of a rebound (buy signal).
Please like, follow and comment!!
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.