XAUUSD: DOUBLE BOTTOM FORMS ON SUPPORT
Hello Traders;
Here's my view on what I hope to see happen on the chart of XAU/USD in coming weeks. I am more on the BULLISH scenario, why?
We see PRICE seated on our SUPPORT zone(1790.150 area) PRICE came around the zone but retraced few weeks prior to this time (NOV-DEC 2020). It comes around same point now and forms some BULLISH correction pattern(DOUBLE BOTTOM).
We hope to see PRICE break above our resistance(TREND LINE), which would signal some more BULLISH action yo take place next week.
IF we get a breakout below the SUPPORT ZONE, WE look to SHORT more to INITIAL POINT OF BREAK.
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Thanks Guys.
Here's my view on what I hope to see happen on the chart of XAU/USD in coming weeks. I am more on the BULLISH scenario, why?
We see PRICE seated on our SUPPORT zone(1790.150 area) PRICE came around the zone but retraced few weeks prior to this time (NOV-DEC 2020). It comes around same point now and forms some BULLISH correction pattern(DOUBLE BOTTOM).
We hope to see PRICE break above our resistance(TREND LINE), which would signal some more BULLISH action yo take place next week.
IF we get a breakout below the SUPPORT ZONE, WE look to SHORT more to INITIAL POINT OF BREAK.
If you find this helpful, help support with a like and comment. Don't forget to subscribe so you never miss a thing.
Thanks Guys.
