HELLO TRADERS, THIS IS A POSSIBLE LONG SETUP ON GOLD. PRICE IS PRINTING HIGHER HIGHS AND HIGHER LOWS WHICH INDICATES BULLS HAVE TAKEN OVER SO IF YOU ARE A BULL LOOK TO BUY AT SUPPORT.

XAUUSD H1

THE DOWNTREND HAS REVERSED AS PRICE HAS PRINTED A HIGHER HIGH AND A HIGHER LOW. BULLS WILL LOOK TO BUY AT DM3 SUPPORT WHICH COINCIDES WITH WPP AND 61.8 FIB.

XAUUSD H1 POST TRADE PLAN

THE PLAN WAS TO BUY AT WPP/61.8 FIB. I FAILED TO NOTICE THE RESISTANCE CLUSTER OF PIVOTS. SECONDLY I DID NOT TAKE INTO ACCOUNT FUNDAMENTALS AS WE KNOW DOLLAR HAS BEEN STRONG LATELY. HOWEVER ANY OTHER DAY BUYING A HIGHER LOW IN WHAT LOOKS LIKE AN UPTREND MORE OFTEN THAN NOT WORKS OUT. PRICE DOUBLE TOPPED AT DM3 AND FELL AND POOF THERE GOES THE PLAN!

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