Xau/Usd just made a breakout of a 4h trendline. It's above it and is rejecting it consistently. This is showing us that gold is ready to move up, and is going to break out soon.
Buyers are in the market since 1700 level, rejection of the 1730-1740 area already occurred.
Now seeing what indicators say they do confirm that we are entering a really strong and bullish market.
Once gold break above 1740 level is going to buy really hard.
Our moving average has been rejected multiple times already, the fibonacci retracements do confirm the big buys coming since they been rejected perfectly. 50% fib level is just in the same place as the 4h trendline meaning our structure is correct from institutional levels. An confirming that our setup is correct.
Our entry will be
XAUUSD buys:
ENTRY @1736
SL @ 1716
TAKE PROFIT @1780
The setup is offering a 2.40 Risk Reward ratio.
Buyers are in the market since 1700 level, rejection of the 1730-1740 area already occurred.
Now seeing what indicators say they do confirm that we are entering a really strong and bullish market.
Once gold break above 1740 level is going to buy really hard.
Our moving average has been rejected multiple times already, the fibonacci retracements do confirm the big buys coming since they been rejected perfectly. 50% fib level is just in the same place as the 4h trendline meaning our structure is correct from institutional levels. An confirming that our setup is correct.
Our entry will be
XAUUSD buys:
ENTRY @1736
SL @ 1716
TAKE PROFIT @1780
The setup is offering a 2.40 Risk Reward ratio.
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