OANDA:XAUUSD   Gold Spot / U.S. Dollar
Looking at the 4h chart for the last months and every time RSI has been close to 30 or below a new uptrend had started. Price has come back to the main trend and using the 200 MA as a support. So my guess is that the downtrend is done, we shall wait and see.
Comment: So this is what it looks like when you publish an idea from your phone. Doesn't look pretty. šŸ˜†

Comments

Nice idea, 144&200 EMA as strong support. !
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I second yu ,let's wait n see
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I agree! Also set my TP at 1750 with possibilities to 1760. However Iā€™m not too sure if it will continue to drop any further than 1712 before we can see it bounce back up?
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@SeyarAb, we can only wait and see. At the moment is stuck at 1712. šŸ™‚
This is my first published analysis btw, I'm glad someone thinks like me. However, I could well be wrong.
+1 Reply
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