XAUUSD: On the big picture there isn't any change of trend
Gold is still bearish despite some move on the upside. Yet there is no sign of a reversal.
On the big picture, for a reversal, we need at least 4 signals, and none of them have appeared yet.
And bare in mind that the bottom of the Kumo Cloud is still being used as a Resistance level.
The bearish cycle should end before, Bull signal are being initiated.
Of course there is always a room for short term trade in one or the other direction, but on the upside, 1330 is the limit, and on the down side, we could come yet on a long term basis to 1180 support, but we will. At that point, baring in mind the signal we can star planning for a long term long on GOLD and in particular with a safe risk/reward equation.
On the big picture, for a reversal, we need at least 4 signals, and none of them have appeared yet.
And bare in mind that the bottom of the Kumo Cloud is still being used as a Resistance level.
The bearish cycle should end before, Bull signal are being initiated.
Of course there is always a room for short term trade in one or the other direction, but on the upside, 1330 is the limit, and on the down side, we could come yet on a long term basis to 1180 support, but we will. At that point, baring in mind the signal we can star planning for a long term long on GOLD and in particular with a safe risk/reward equation.
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