💡 Don't miss the buying opportunity in XAUUSD

Midterm forecast:
While the price is above the support 1762.05, resumption of uptrend is expected.
We make sure when the resistance at 1902.60 breaks.
If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1802.00 on 01/18/2021, so more gains to resistance(s) 1875.15 and maximum to Major Resistance (1902.60) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.

Trade Setup:
We opened 6 BUY trade(s) @ 1836.93 based on 'Hammer' entry method at 2021.01.18.

Total Profit: 9052 point
Closed trade(s): 3822 point Profit
Open trade(s): 5230 point Profit

Closed Profit:
TP1 @ 1875.15 touched at 2021.01.29 with 3822 point Profit.

Open Profit:
Profit for one trade is 1847.39(current price) - 1836.93(open price) = 1046 point
5 trade(s) still open, therefore total profit for open trade(s) is 1046 x 5 = 5230 point

Take Profits:
TP1 @ 1875.15
TP2 @ 1902.60
TP3 @ 1931.40
TP4 @ 1965.50
TP5 @ 2075.05
TP6 Free

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