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Gold: False Breakout and Bullish Momentum

Recently, gold experienced a false breakout and re-tested support at 2622. This re-test has led the market back into a sideways movement, but with a strong bullish momentum building up along the trendline.

  • Resistance at 2655: If gold can reach and sustain its price at 2655, this will serve as the first confirmation of a bullish trend continuation.

  • Second Confirmation at 2686: A further rise and hold at 2686 will provide a second and more robust confirmation of the bullish trend.


  • Take Profit (TP): After gold reaches 2686, traders can consider taking profits.

  • Stop Loss (SL): A stop loss can be placed around $15-$20 below the entry point, or according to your risk management strategy.


Good luck with your trading 👋
Catatan
Hit 2655 can entry now or wait for re-test 2655 support.
Catatan
rocket is to the moon.
me22_
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Chart PatternsForexforexsignalsgoldlongTrend AnalysisXAUUSDxauusdlong
me22_
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