XAUUSD: Blueprints 12.

The XAUUSD is about to breakout the major support zone, highlighted on the chart, which will lead it to 1050.46, with 1057.62 as a primary objective.

Bouncing around 1066.07, will send it back towards 1076.01. Breaking out 1076.01 will send it to 1086.04, with 1080.34 as a primary objective.

So there the risk of having the double bottom rejected can be taken to open a short position with at least 1057.62 in PT, and 1076.01 in SL.

The double bottom has 1125.39 as an objective, should the XAUUSD breakout 1086.04.

The daily Pivot Point is around 1070.70. The daily Support Levels are around 1064.55 and 1060.22. The daily resistance levels are around 1075.03 and 1081.18.

Comment:

On a daily scale, the breakout of 1067.38 will send the XAUUSD seeking 1050.46, with 1057.62 as a primary objective.

Breaking out 1075.5 will send the commodity seeking 1080.34.

The daily Pivot Point is around 1070.52. The daily support levels are around 1065.55 and 1062.40. The daily resistance levels are around 1073.67 and 1078.64.

Comment:

UPDATE:
SL should be trailed to 1064.49 & PL to 1050.46.
Watch for the breakout of 1058.11, as it will trigger a further slide towards 1050.46.

Comment:

The daily Pivot Point is around 1061.2. The daily support levels are around 1058.97 and 1055.97. The daily resistance levels are around 1064.2 and 1066.43.

Trade closed: stop reached

Trade closed: stop reached:

After Trailing the SL to 1064.49. the Trade was closed as the SL was reached. The overall of the trade is about 5.51 pts.