Gold, the lows are are good opportunity to buy

20. Juli 2023

Hello everybody. In today's analysis I am going to take a look at the XAUUSD chart and review my previous analysis of the price. in the last analysis I indicated wave patterns in downward movement. currently, It seems to me that we are in the wave B of an upward ABC. as you can see the price is yet to break the resistance line with a close above the resistance. anyway I expect the resistance to brake upward sooner or later to the major resistance above 2000 lvl and only after touching the resistance we expect another strong downward trend. the proof of upward movement for me will be a close above the resistance with a good candle. we have to look for extra proofs at every situation and remember not to get ahead of ourselves in the market. I want to share with you guys what I did today as I didn't keep up sticking with my strategy and SL hit and I came to revenge and another SL hit and I opened the third position with a furious mind and guess what? the third SL hit :))
Be careful with your trading specially back to back trades that can ruin an account very easily. happy trading