XAUUSD Oversold buy opportunity.
Gold hit the bottom of the five month Channel Down following the Golden Cross (1d) collapse.
The same bearish leg has been seen another three times (was the logic behind our sell last week) and every time it was completed, the price rose by a minimum of +2.66%.
Trading Plan:
1. Buy on the current market price and as long as Support (2) holds.
Targets:
1. 1864 (+2.66%).
Tips:
1. The RSI (1d) is reversing after dropping even under 20.00. A further sign of a potential short term bullish reaction.
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Notes:
Past trading plan:
The same bearish leg has been seen another three times (was the logic behind our sell last week) and every time it was completed, the price rose by a minimum of +2.66%.
Trading Plan:
1. Buy on the current market price and as long as Support (2) holds.
Targets:
1. 1864 (+2.66%).
Tips:
1. The RSI (1d) is reversing after dropping even under 20.00. A further sign of a potential short term bullish reaction.
Please like, follow and comment!!
Notes:
Past trading plan:
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