XAU reached important Action Point!

FX:XAUUSD   Gold / US-Dollar
1456 8
We can see a midterm uptrend since 30.05.2016. The upmove temporarily stopped with a Double Top @ 1.375$ - a consolidation started.
Today we are trading near the supportlevel @ 1.310$. Here is based the midterm uptrend-line, the min. correction Level - the fibo 38,2 retracement, the neckline of the possible H&S and the EMA 200 in this timeframe. All together are apivot support-Cluster.
1. Trading below that Level will break the midterm-uptrend - a shortsignal appears. The TPs of the H&S are 1.274$/ 1.248$.
2. Will the trend be bought, that would be a bullish Signal. Here you could exspect the next buying-wave up to 1345$/137$5.
3. Trading above the former Top @ 1.375$ will cause a midterm-longsignal --> TP 1.430$
This is just my persoonal view -please trade your own view.


Former Analysis:
Can Gold free itself from the H&S- lock?

Gold-0.16% is fighting with the EMA 200. Will Gold-0.16% lose the fight, a bearish-shortterm-Turnaround-pattern in form of a H&S would appear. The TPs of the H&S are: 1278/1260.
Can the EMA 200 be defended, then the consolidation seems to be finished.
Only Prices above the shoulders (1340$) will brighten the shortterm trend. --> TP would be the former Top @ 1375$ .
Kommentar: TP1 (1345$) reached today - xau on the way up to tp2 @ 1373$
Kommentar: flag attack!!!
Kommentar: Flag active!!!
Kommentar: The Action Point unfolds his power!!!
Kommentar: The rsi signs a possible Rebound down to the flags Body (BO-Niveau)
Kommentar: next breakout ahead..or another round within the new mini flag?
Kommentar: gooood!
Kommentar: OK - we are trading near the next bigger Action Point -it`s getting interesting now
Kommentar: H&S, Flag ? Whatever! But it smells bullish! :-9
Kommentar: wow! the news /data destroyes all my pattern :(
Your posts are excellent for day traders. Thanks!
i am very glad to hear that - thx a lot - i hope my views are helpful for the one or other Trader :-) cheers!
1356 will be good for me :D lol
Awesome! can't wait for it to head to 1375! Thanks Mary for sharing! :)
:-) Thanks ..let`s see
Thumbs Up!!!
Hi. I follow the xaueur. I rwcently closed long positions. I am more in favor of more correction and possibly some more bullish action of stoks
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