Bounce on Gold, retrace some of last week's move

I think the daily bars are set up nicely for a bounce. Nestled just under sma200 and lower BB. Nice reversal off some selling pressure today. Looking for move back to 1275-1286. I think it is important to hold the 1247-1251 area. In fact, 1254 looks like nice support after today. Hopefully it will gap up an not need to worry about that. No one really knows how China coming back from holiday will affect the trade. Also another US election debate Sunday night. XAUUSD

Kommentar:

Looking for move back to sma9 and next clone area extension higher. That is how I came up with 1275-1286