Now this is neither a signal nor prediction, rather this is something I would really like to see before we go Long on XAUUSD (Gold) again..
It's no Harvard knowledge that Gold has been in one of a hell of uptrend, since years. All the way from 100-200 to 2.000, this might have been the best investment for many that did it back then. Either way, it isn't called the safest heaven for no reason.
Anyway, I woukd like it to see a break out of the uptrending trendline before sellers get trapped. If this happens, I will be waiting for the corrective pattern (CP) to form and break out of it before I enter a long position on this as well. For now, Gold remains ranging on H4 and D1, but a clear uptrend on the bigger timeframes.
Neverthless, I won't want to miss this trade and will e having it under my eyes.
It's no Harvard knowledge that Gold has been in one of a hell of uptrend, since years. All the way from 100-200 to 2.000, this might have been the best investment for many that did it back then. Either way, it isn't called the safest heaven for no reason.
Anyway, I woukd like it to see a break out of the uptrending trendline before sellers get trapped. If this happens, I will be waiting for the corrective pattern (CP) to form and break out of it before I enter a long position on this as well. For now, Gold remains ranging on H4 and D1, but a clear uptrend on the bigger timeframes.
Neverthless, I won't want to miss this trade and will e having it under my eyes.