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. 😆

Comments

Nice idea, 144&200 EMA as strong support. !
+1 Reply
I second yu ,let's wait n see
Reply
I agree! Also set my TP at 1750 with possibilities to 1760. However I’m not too sure if it will continue to drop any further than 1712 before we can see it bounce back up?
Reply
@SeyarAb, we can only wait and see. At the moment is stuck at 1712. 🙂
This is my first published analysis btw, I'm glad someone thinks like me. However, I could well be wrong.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter