AlkalineFX

Follow the Gold Trend

Long
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Don't force sells that arent there, wipe out the buyers that are. I expect a significant pullback to lure sellers in before reversing to the upside target points.

Comments

I dont think gold is gonna head down anytime soon, price is currently in a bullish channel on the 4 hour and it has shown strong signs of rejection of the support zone of the channel before market had closed
+1 Reply
@MQL gold is a safe heaven my friend. you can expect the unexpected from gold. this chart is accurate.
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AlkalineFX ASFAND_GOLD
@ASFAND_GOLD, Respect bro
Reply
@MQL, It should head down to wipe out buyers before contiuining.
+1 Reply
MQL AlkalineFX
@AlkalineFX, One of the trading ideas you uploaded on the 18th recommended the idea of XAU price heading down to the 1765 area and heading up to 1800 so i thought given that price of XAU has already wicked into that area with strong sings of rejection, you'd expect price to head back up but i guess a retest of that same area might also be imminent
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@MQL, We will have to play it by ear next week, the double bottom could be targetted - we will re-evaluate next week.
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