The pattern worked well so far.
Our first target was 1263. Gold hit 1262 and pulled back to consolidation zone.

1257 remains as a resistance for intraday trading. When we entered the trade at 1237, indicators were bearish. However, RSI is bullish now. And the price moved into upper Bollinger Band.

1250 is the intraday support. Gold will test 1257 again as long as it remains above 1250. Momentum turned to Bullish in H4 chart. 1265 and 1273 will be the next targets of Gold.

READ MORE

GOLD-DAILY-1

Source: http://www.fxters.com/xauusd-gold-technical-analysis-trade-idea/

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.