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eatemady

Double bottom of Gold

Long
Gold Spot / U.S. Dollar (FX_IDC:XAUUSD)  
eatemady Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Gold XAUUSD xauusdlong
7
3
trendanalysis chartpattern gold xauusd xauusdlong
In daily timeframe, gold broke out of the descending channel and doing do formed a double bottom (almost a triple bottom ;-)), if we can see a pull back to 1735 it would be a good buy zone with TP of 1858.
Comment:
If you have opened a buy position at 1737 i would recommend you to hold to it and wait for the target of 1858. It might take another two or three weeks.
Comment:
The price is going up and is near our target. It will probably reach the target within this week.
Trade closed: target reached:
Target reached on Friday Jan 6th.
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