AmplaFX

Gold - Bullish Reversal

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Good morning ladies & gents .

We are officially in another bullish cycle for Gold , so the favourable direction to trade it in is LONG.

Price created an extremely bullish structure offering us a risk to reward long opportunity.

This bullish structure is created through a break of bearish market structure on the D1, H4, H1 timeframes.

I'll be scaling out of the position as price approaches TP, but I anticipate that price will climb back up to the monthly highs created in 2020 over the course of the next few weeks/months.

Targets: 1820 --> 1838.70 --> 1875 --> 1947 --> 2060

I'll be providing regular updates on Gold . Stay tuned.

Disclaimer: This is purely for educational purposes and not offered as trading advice. Trade at your own risk and remember to always manage your risk appropriately. I'd recommend anything between 0.5-3% maximum.
Trade active
Comment: Price made a nice shift during New York. We may see a retest of 1773.75 prior to the next move up. Let's see how price unfolds going into next week.
Comment: Price moving very nicely as anticipated. From here we'll look for more opportunities to build in long positions.

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