XAUUSD Golden Cross and the 1H MA50 are supporting this uptrend.

Last time we looked at Gold (XAUUSD), it gave us two sell opportunities both of which hit their targets (see chart below):


The price has been rising since, supported by the 1H MA50 (blue trend-line) and on top of that, the 1H Golden Cross has been formed. Last time we saw that pattern was on August 23. On that fractal, once the 1H MA50 broke, the price pulled-back to the 0.5 Fibonacci retracement level and then resumed the uptrend.

As a result, we are bullish already since the 1H MA50 is supporting. If it holds, we will simply add one more buy position when the pull-back hits the 0.5 Fib. In either case, the target is 1953 (Resistance 3).

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