Long XAU/USD
Yesterday I posted a short idea for XAU/USD, however because its been in a ranging environment last week, its difficult to really determine what the price will do next. So I thought I'd share an alternative bullish scenario. From a price action point of view, break of the recent high, double bottom and break through structure point to a bullish momentum as indicated in the chart. However, because of huge unexpected downward push on EUR/USD yesterday (30/04) and the fact that bulls are currently playing a tug of war on xau/usd, it makes me question if we're not about to be faked out before further collapse -> refer to the previous chart. Break from the ranging environment will provide an indication of what to do next. Which side are you guys on?
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