XAUUSD The first Golden Cross (4h) since March can deliver 2005.
Gold is trading inside a Channel Up that got it off the prior downtrend as it crossed above the MA50 (1d).
The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th.
Perhaps the most important development today is the first Golden Cross (4h) since March 15th.
Trading Plan:
1. Buy near 1,966.
Targets:
1. 2005 (top of Channel Up).
Tips:
1. The RSI (4h) is perhaps more illustrative of the expected minor pullback as it appears to have completed a leg similar to those that peaked on July 7th and June 30th. Also there is a Rising Support to consider for the Channel Up.
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Notes:
Past trading plan:
The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th.
Perhaps the most important development today is the first Golden Cross (4h) since March 15th.
Trading Plan:
1. Buy near 1,966.
Targets:
1. 2005 (top of Channel Up).
Tips:
1. The RSI (4h) is perhaps more illustrative of the expected minor pullback as it appears to have completed a leg similar to those that peaked on July 7th and June 30th. Also there is a Rising Support to consider for the Channel Up.
Please like, follow and comment!!
Notes:
Past trading plan:
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