XAU/USD | Trend Reversal - Time to Buy!

👋 Good day, traders!

Let's delve into a couple of potential scenarios:

📉 After XAU has worked off its local lows and returned to its previous positions on D1, it's now shaping a new upward trend. Following a minor correction to $1920, a "Pennant" continuation pattern has formed. Upon breaking the resistance level at $1935.00, it's poised to continue its ascent towards target levels of $1960.00 and $1980.00. I recommend considering buys from an aggressive level of $1945.00 and a conservative level of $1938.00, with a potential profit range of 0.8% to 2.0%. Set your SL at ~$1930.00.

✅ Give a 👍 if you're keen on more insightful and profitable trading ideas❗️
❓ I'd love to hear your thoughts. What's your take on this?

DISCLAIMER:
This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.

Trade active

Trade closed: target reached:

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