Gold will rise after reaching this support area where the rally to 2000 began. In addition, the MA200 is also around this area at 1797 (red line on the graph), a buy position in this area will be rewarded with low risk. Furthermore, XAUUSD price has collapsed and has not given a significant pullback where buyers come in, this is the area where I think buyers will come in. Setting SL substantially below this area is recommended in case of volatility and spikes. I will be looking to long around 1790 - 1800 with my SL at 1775.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
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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.