GOLD (XAUUSD) Ice Breaks

hey guys,

I hope you are ready for the new trading year!
I am still on vacation and celebrating Orthodox Christmas today
but a lot of followers are very scared because of recent fluctuations and gold and ask me to clarify the situation.

The beginning of January turned to be very impulsive for many financial instruments.
Gold is one of them and I want to share with you my midterm and long term thoughts on it.

The market has recently broken above the 2018's high going through multiple levels of resistance without hesitation.

Market participants show their willingness to buy. No matter what are the reasons, big-money buy and it is a signal for us. It is the signal that during the next few months we can expect further bullish continuation to new structure highs.

Analyzing weekly timeframe I believe that buyers' midterm target is 1640 level. It is the first strong level to pay our attention to.

Talking about the long term perspective, it looks like the 2011th actions repeat. The tendency is overwhelmingly bullish and the 1750 - 1800 zone could be a quite realistic goal for buyers.

Anyway, no matter what is happening on a fundamental side, the picture that we see right now is completely normal. Don't blame Trump for stopping your short out. Follow your plan and be better!!!

Don't rush and don't open emotional long trades on a current price. Your next chance to buy will be only after a pullback.