GOLD (xau/usd) signal 740pips profit { tamil trading terms }

2 באוג׳ 2022

XAUUSD

Last week (21-7-22) yellow metal changes its trend from selling to buying at strong support 1680$ with a (bullish engulfing) pattern which confirms the bearish trend reversal.
the bull trend continues on support of fundamentals from USA reports which push the gold toward the strong resistance at 1780$ which also a 50% Fibonacci retracement
level. yellow metal will changes its trend to selling from nearer to 1780$ resistance due to the completion of retracement & upcoming fundamental, this week Friday got NFP which decides the market further.

selling :
sell @1778 with targets 1760,1748,1736,1718,1700
stop loss above resistance 1782

buying :
buy@1786 with targets 1800, 1812, 1822
stop loss with below support 1775

Current active position : selling (refer the chart attached)

Author :: pravin (tamil trading terms)