XAUUSD Buy signal on Support
XAUUSD hit Support (1) at 1981 and the current reaction is a rebound.
The long term pattern is a Channel Up.
Trading Plan:
1. Buy as long as the price is closing over Support (1).
2. Sell if it closes under.
Targets:
1. 2050 (Resistance 1)
2. 1950 (Support 2 and MA200 (4h)).
Tips:
1. The RSI (4h) is testing the bottom of the Channel Down. This strengthens the probability of a rebound (buy signal).
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The long term pattern is a Channel Up.
Trading Plan:
1. Buy as long as the price is closing over Support (1).
2. Sell if it closes under.
Targets:
1. 2050 (Resistance 1)
2. 1950 (Support 2 and MA200 (4h)).
Tips:
1. The RSI (4h) is testing the bottom of the Channel Down. This strengthens the probability of a rebound (buy signal).
Please like, follow and comment!!
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