the_pamungkas

xauusd swing position ideas

the_pamungkas Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
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"These ideas are purely my personal opinions, and I'm not signaling anyone to buy or sell. I'm just sharing my thoughts on the matter.

I've observed a daily trendline on XAU/USD, and as of now, the price is at 2021. The price has already broken the psychological level at 2025. I believe it will continue to the next psychological level at 2000. After that, I'm not exactly sure where the price will move.

It might either come back to an uptrend or downtrend. Based on my chart analysis, I think the price will reverse to an uptrend because at 2000, it encounters a significant Kumo cloud, making it challenging for the price to break out of the Kumo. Additionally, at 1980, there is a strong support level that gives me more confidence in saying that the price will reverse to an uptrend. However, this is only my opinion."

Trade closed: target reached
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