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Dailypaperfx888

XAUUSD TO 1777

Long
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
Dailypaperfx888  
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Chart Patterns Fundamental Analysis Beyond Technical Analysis XAUUSD Gold buy TRAP take risk AND prosper
3
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chartpattern fundamental beyondta xauusd gold buy trap take risk and prosper
CONFLUENCE COUNT

1. THREE WEEKLY CANDLE REJECTION AT PREVIOUS MONTHLY SUPPORT @1686

2. MARCH 15 WEEKLY CANDLE CLOSE ABOVE PREVIOUS MONTHLY RES @1733

3. MARCH 22 WEEKLY CANDLE FINDS NEW SUPPORT AT PREVIOUS MONTHLY RES OF @1733 NOW TURNED SUPPORT.

4. MARCH 29 CANDLE RETEST PREVIOUS MONTHLY SUPPORT OF @1686 (MAJOR REJECTION)

5. APRIL 5 CANDLE OPENS BULLISH LOOKING FOR CONTINUATION AND FURTHER BREAKING PREVIOUS RES OF @1733
ALSO BULLISH PENANT FORMATION ON 1H TIMEFRAME

6. POTENTIAL RETEST OF MONTHLY RES @1777 WHICH IS ALSO A 50% FIB RETRACE ON OUR MONTHLY TIMEFRAME

7. BUY ENTRY POSITION @1733.
TAKEPROFIT @1777

8. STOP LOSS SET @1725 DEPENDING ON RISK MANAGEMENT.


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