Hello Traders! I'm sure that I'm not the only trader who loves to trade gold because it is largely rewarding if traded right. And right now, here's how I'm looking at XAUUSD for the next possible bullish impulse that could be an easy 300+pips to the upside. Chart below
Here's the H1 timeframe analysis on XAUUSD and right now I personally expect to see some growth out of this pair particularly because we're trading at a very strong structure support level and we're in an overall uptrend (by top-down analysis).
Here's how I'm approaching it- upon the spotting of a reversal pattern (eg double bottom) which will show exhaustion of bears in the market, I will go long with a decent risk to reward ratio. Don't forget, you can trade this with me either on your Live or Demo account especially if you have a similar bias after doing your own analysis.
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Here's the H1 timeframe analysis on XAUUSD and right now I personally expect to see some growth out of this pair particularly because we're trading at a very strong structure support level and we're in an overall uptrend (by top-down analysis).
Here's how I'm approaching it- upon the spotting of a reversal pattern (eg double bottom) which will show exhaustion of bears in the market, I will go long with a decent risk to reward ratio. Don't forget, you can trade this with me either on your Live or Demo account especially if you have a similar bias after doing your own analysis.
Don't forget to LIKE and FOLLOW us for more informative contents.