GOLD (XAUUSD) Everything YOU Need to KNOW!!!

hey guys,

to trade wisely gold next week here are the main points to consider.

higher time frame perspective (daily/weekly):
-market is in a strong bullish trend
-market is approaching a weekly resistance
-1779 - 1802 is a strong weekly resistance cluster
-1738 - 1749 is a strong daily support cluster

lower time frame perspective (4H):
-market is in a strong bullish trend
-market is stuck in a horizontal accumulation area 1760 - 1786


though long positions remain our priority, we should be careful with a price action around a weekly structure.
analyzing 2011-2012 perspective the price can easily start a strong bearish rally soon.

with high probability current structure high will be retested this week.
look for a reaction of the market and short only after a strong confirmation.

same thing with long trades,
take longs from a support of the 4H range with a decent confirmation,
or from a daily support cluster.

no rush, it is very easy to be stopped out on gold , so entry areas must be the safest.

good luck next week!