XAUUSD (1hour chart): Is Gold bullish today???
Gooday fellow traders
I'm fairly bullish on Gold today and according to my analysis, the best place to buy this pair is below the upward trendline as opoosed to buying on the trendline. The reason I say this is
because we i can see a clear support level below the trendline which is also a demand zone. Knowing how gold behaves, its likely to go down below the trendline before giving traders an
opportunity to go long. Pre-mature buys might get stopped out, there i choose to but an the support level to give the market a room to breath and gain bullish momentum.
Entry will be confirmed once I see all the characteristics of a fakout as well as a bullish reversal candlestick pattern.
Please share your views on this idea and like if you agree with the idea.
Please follow for more quality ideas!!!
DR.Swing_Forex
I'm fairly bullish on Gold today and according to my analysis, the best place to buy this pair is below the upward trendline as opoosed to buying on the trendline. The reason I say this is
because we i can see a clear support level below the trendline which is also a demand zone. Knowing how gold behaves, its likely to go down below the trendline before giving traders an
opportunity to go long. Pre-mature buys might get stopped out, there i choose to but an the support level to give the market a room to breath and gain bullish momentum.
Entry will be confirmed once I see all the characteristics of a fakout as well as a bullish reversal candlestick pattern.
Please share your views on this idea and like if you agree with the idea.
Please follow for more quality ideas!!!
DR.Swing_Forex