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GOLD - SHORT TERM LONG

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Guld / USA-dollar (FOREXCOM:XAUUSD)  
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FOREXCOM:XAUUSD   Guld / USA-dollar
Chart Patterns XAUUSD xauusdlong xauusdanalysis xauusdbuy Gold goldidea goldtrading goldanalysis goldlong
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chartpattern xauusd xauusdlong xauusdanalysis xauusdbuy gold goldidea goldtrading goldanalysis goldlong
Following on from our idea on may 2nd - Gold has fallen further and has now replicated a move lower it did in early 2021.
It has hit 0.707 and is at support.
We could look for a small quick buying opportunity. I say small and quick because beyond that we could be heading lower.
Check it out on the weekly....
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On the daily we see that price has hit a 2 (purple ext) and we have a buying tail.
Here we can give it our first attempt...
snapshot
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We should consider ourselves lucky and very satisfied.
Taking profits
snapshot
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Yesterday's daily candle is a very significant reversal and one can expect that price will move higher from here. I am leaving some money on the table for this. We have taken some profits and we should not have a losing trade with this so whatever is left on the table will have SL moved to at least break even!
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