Longer term position outlook for XAUUSD

FX:XAUUSD   Gold Spot / U.S. Dollar
Looking at a potential scenario here over a position trading timeframe (weekly) on XAUUSD

We seem to be holding a relatively key Fib 'area' on the W1 chart at the moment (38.2% & 61.8% of the recent upwards moves) - with this in mind I'd like to see a continued rally in this metal to hopefully re-test the highs of last year and if we can break above then potentially an extended move up to the 'golden' zone on the chart here where we have a cluster of Fib extension levels from the recent moves (127.2% & 161.8%)

I don't usually trade these longer term trades as I don't currently have the patience to hold a position for months on end! :) But have been becoming increasingly more interested in position trades simply as a more 'hassle free' addition to the old trading arsenal.

Let see where it takes us!
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out