XAUUSD This makes all the difference between bearish and bullish

4 thg 11, 2023

Gold has taken a pause on October's enormous rise that was backed by the geopolitical tension in Israel, and formed a Bullish Flag pattern.
The whole pattern from October's low until now looks very much like March 2023.
A Bullish Megaphone with Higher Lows to buy and Higher Highs to sell, led the market to the eventual 2080 peak.

Trading Plan:
1. Sell as long as the (1d) candle closes under Resistance (1).
2. Buy if it closes over it.

Targets:
1. 1955 (Rising Support of a symmetrical to March Bullish Megaphone and over MA50 (1d)).
2. 2049 (Resistance 2).

Tips:
1. The RSI (1d) got overbought and pulled back. The last two times it did a similar structure was on March 17th and January 13rd. The former extended the rise while the latter had a strong decline to the 1805 level that formed Support (1).

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Notes:
Past trading plan: