Long position on XAUUSD
Hi Traders !!!
After the sharp decline from the beginig of the week, I assume that the price can hold steady on this level and make a correction, if the price shows signs of reversal on the support area we can go long for the first TP as illustrated on the chart.
Remember that Gold has the potential to move even higher, History repeats itself, and this scenario has happened earlier on the chart.
IF the price breaks lower the support and consolidates on that level, this trade idea is invalid.
After the sharp decline from the beginig of the week, I assume that the price can hold steady on this level and make a correction, if the price shows signs of reversal on the support area we can go long for the first TP as illustrated on the chart.
Remember that Gold has the potential to move even higher, History repeats itself, and this scenario has happened earlier on the chart.
IF the price breaks lower the support and consolidates on that level, this trade idea is invalid.
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