GOLD/XAUUSD

25 באפר׳ 2022

There has been a new level of support created and this needs to be broken in order for further sells to continue. If price moves to this support and respects it then we can wait for the next test on the 2nd level of support but if prices moves and completely breaks the trend lines on the candle closures and breaks the 1st/bottom support then further sells may occur. If this 2ndd support is tested but respects it and price continues to push up, we can wait for price to break the next level of support (3rdd level). If price breaks the second support, then you can add buys at 1908 or 1907.50 as that confirms the top trend line breakages which perfectly sits on the breakage at the top of the second support line. You can then comfortably hold till the next TP/SL at 1912.50 which would be the next level of support, if it retests and is rejected and falls from there then secure profits and close the trade BUT if it breaks the 3rd trend line at 1915.50/1916 then hold as we have now broken the 3rd support and reached into the golden zone on the Fib level of 0.382 (1915 on the gold chart). Hold TP 2 till 1922.50/1923 which is the next level on the fib chart which is the 0.50 where it could fall down to 1915 or 1912 (3rdd support) but if retests the 3rd and goes back up then a possible TP 3 at 1930.