Long XAU/USD
On the monthly XAU/USD has entered a ranging mode, this puts 1400 in view as a potential top of range.
On the weekly chart, we have entered a fresh uptrend.
On the daily chart, we are in a strong uptrend.
A sharp return to the 1190 level would generate opportunity for great long.
A slower return to the 1190 level would be less favourable and I would expect to see a slightly deeper penetration perhaps to 116x.
Tier 1 trade because we are at a major trendline on the monthly and it is not cleared yet; trends are not in agreement.
On the weekly chart, we have entered a fresh uptrend.
On the daily chart, we are in a strong uptrend.
A sharp return to the 1190 level would generate opportunity for great long.
A slower return to the 1190 level would be less favourable and I would expect to see a slightly deeper penetration perhaps to 116x.
Tier 1 trade because we are at a major trendline on the monthly and it is not cleared yet; trends are not in agreement.
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