As we can see Swing traders, there’s an ascending triangle on the XAU/USD (Gold) weekly chart, which was made in the past 3 years and it touched the same ascending line + testing a previous support line.
A double bottom at the close of last week’s session accrued + a hammer bar, which implies fear for downside ( buyers are taking control & they want to push the Gold UP ), DXY on the other hand facing a downside trend & a lower NFP than the previous.
There are multiple political & economical tensions between the US & Iran & some other countries, which will take the Gold market even higher in the upcoming weeks.
I’m bullish on Gold & already entered Long.
Trade carefully Everyone, pay attention to the price action & remember: Plan your trades & Trade your plan :)
If you agree with me or disagree, please leave a comment below, Thanks :)
A double bottom at the close of last week’s session accrued + a hammer bar, which implies fear for downside ( buyers are taking control & they want to push the Gold UP ), DXY on the other hand facing a downside trend & a lower NFP than the previous.
There are multiple political & economical tensions between the US & Iran & some other countries, which will take the Gold market even higher in the upcoming weeks.
I’m bullish on Gold & already entered Long.
Trade carefully Everyone, pay attention to the price action & remember: Plan your trades & Trade your plan :)
If you agree with me or disagree, please leave a comment below, Thanks :)
