XAUUSD Establishing itself over the MA50 (4h).

Gold is trading inside a Channel Down since early May and last Friday formed the new Lower Low.
The price has established itself over the MA50 (4h) and technically this is the rising wave to a new Lower High.

Trading Plan:
1. Buy near the MA50 (4h).

Targets:
1. 1890 (a little under the 0.618 Fibonacci level and probable contact with the MA50 1d).

Tips:
1. The price peaks when the RSI (4h) forms a Double Top. If this is formed again before we reach 1890, then book the profit on the spot.

Please like, follow and comment!!

Notes:
Past trading plan: