XAUUSD - Another breakout is coming soon
Hello Traders,
Please note the following:
- Gold is now consolidating in a narrow range and any break will be very strong, also note that the previous drop was gradually but the raise strong, so this could be a bullish sign for a bullish trend.
- If gold intends to complete the rise with strength, then it must retrace, and the correction could be until 1930, 1927, 1924, 1920, and if it exceeds 1920-1917, the correction process will have ended, and gold will have taken a bearish trend
- Based on the previous point, any decline below 1934-1933, you can sell to take advantage of the correction up to the prices listed above and continue to book profits and move the SL downward.
- Any rise above 1939.74 – 1940 with or without retracement, you can buy and target the listed price on the chart while paying close attention to the strong resistances at 1946.44 and 1954.78.
- RISKY: as long as the price is below 1940, you can sell with a stop loss at a price of 1947.51 to benefit from potential retracement.
- Finally, Gold is trying to decide where to live during September, in AREA A or AREA B and C (on the right of AREA A) :) Where do you think?
Wish great luck for all
Please note the following:
- Gold is now consolidating in a narrow range and any break will be very strong, also note that the previous drop was gradually but the raise strong, so this could be a bullish sign for a bullish trend.
- If gold intends to complete the rise with strength, then it must retrace, and the correction could be until 1930, 1927, 1924, 1920, and if it exceeds 1920-1917, the correction process will have ended, and gold will have taken a bearish trend
- Based on the previous point, any decline below 1934-1933, you can sell to take advantage of the correction up to the prices listed above and continue to book profits and move the SL downward.
- Any rise above 1939.74 – 1940 with or without retracement, you can buy and target the listed price on the chart while paying close attention to the strong resistances at 1946.44 and 1954.78.
- RISKY: as long as the price is below 1940, you can sell with a stop loss at a price of 1947.51 to benefit from potential retracement.
- Finally, Gold is trying to decide where to live during September, in AREA A or AREA B and C (on the right of AREA A) :) Where do you think?
Wish great luck for all
